…Business is an infinite game. The leaders who embrace an infinite mindset, in stark contrast to those with a finite mindset, build stronger, more innovative, more inspiring organizations. They have the resilience to thrive in an ever-changing world. Ultimately, those who adopt an infinite mindset are the ones who lead the rest into the future. [14]

Phillipine says, ‘The growth and performance of our business is to a big extent dependent on our corporate sustainability strategies and efforts.’

Affirming a long-term strategy outlook, Phillipine reveals, ‘Coca-Cola is continuously strengthening its operations in Africa to keep it on a steady growth path. We have been investing to boost our capacity ahead of demand. In this regard we have made an investment commitment in Africa of $17m between 2010-2020.’

Referring to bottling operations divestiture and rationalization, Phillipine says, ‘In order to build scale, we have consolidated our bottling system – Coca-Cola Beverages Africa which is now the number 1 bottler in Africa and the 8th largest globally.’

She proceeds to demonstrate a purpose-driven approach to product innovations. ‘We have continued to expand our beverage offering to give our consumers choices and options. This has included reducing sugar in our sparkling beverages and introducing other categories like juices, tea and coffee.’

The promise of a single continental market, as well as the free movement of people is another factor that will accelerate the exponential growth of Corporate Africa. ‘Efforts are being made to expand the market for goods produced in Africa,’ states Phillipine. ‘We are seeing more countries signing up for the Africa Continental Free Trade Agreement.’

A Crucial Insight 
With a majority of businesses in Africa operating off traditional models, leaders invariably succumb to short term related pressures, leading to fragile, contracting and unsustainable businesses. This puts in doubt the prospects of ever having an African-born global corporate giant in Walmart’s league…the largest company in the world with approximately $500b turnover.

About accomplishing such ambitions Phillipine muses, ‘It is a possibility, though perhaps not a priority currently.’ She proposes, ‘The current priority for African businesses is to push for an enabling business and regulatory environment that supports growth, profit making, provides jobs along the supply chain, and gives material and service suppliers a good return for their labor.’

She further reasons, ‘With an enabling business environment in place we will also start to see Africa’s opportunities and wealth more evenly distributed via SME’s (horizontal), instead of individual companies holding it all (vertical). For Africa to thrive we need to focus on equitable wealth creation.’

Drawing from recent learnings, Phillipine shares a crucial insight for Corporate Africa. She says, ‘The COVID-19 global pandemic has demonstrated that when wealth is not evenly distributed even the large companies (which almost entirely depend on the wider population) are also exposed.’

Various trends underpin the possible rise of made-in-Africa global corporate giants. Phillipine predicts, ‘I believe in the next 20 or so years we could start seeing such companies. I see many positive and encouraging developments across Africa which are important foundations for strong economic growth and, if sustained, will fast track the continent’s role as a growth engine to the global economy.’

She also singles out top African entrepreneurs and notes, ‘We are seeing several local investors across Africa making huge investments and boldly addressing the complex challenges in African markets. Dangote Group based in Nigeria for instance, is currently investing more than $16b in various projects across the continent.’

Corporate Africa harbors a few businesses that show real potential by performance trends and outlook. Encouraged, Phillipine reckons, ‘African businesses are emerging as truly multinational companies with strong brands. They are found across sectors, including fast moving consumer goods, cement manufacturing, telecoms and banking.’

A Sustainability Mindset 
Regarding the sluggish rate of sustainability uptake in Corporate Africa, Phillipine remarks, ‘First of all, it is important to acknowledge that Africa has come a long way in the sustainability space…and this can only get better. Many forward-thinking organizations and governments have put in place initiatives aimed at supporting economic and social development for its communities.’

Phillipine nonetheless admits the need for more effort. She asserts, ‘There is still room to do better by getting more corporates to willingly run their businesses sustainably, adhering to all the principals and practices of sustainability.’

She adds, ‘Those who have not embraced this concept are perhaps not enlightened to the importance of corporate sustainability. It may also be that the aspect of survival and the high cost of doing business keeps them from investing time and resources in this area.’

Speaking of an urgent necessity for corporate sustainability education, Phillipine advises, ‘There is need to create awareness among corporate leaders on the benefits of corporate sustainability and how to integrate it into their strategies and in everyday business operations.’

Undeniably, the cultivation of a sustainability mindset in Corporate Africa is essential for the realization of commercial success. And an inclusive economy that is necessary for a thriving society. ‘There is need for sensitization to the effect that when the communities and countries in which they operate in lag behind and there is no economic and social progress it adversely affects their business survival and profitability in the long run,’ says Phillipine.

A Sweet Carrot 
Integrated reporting is one of the key trends shaping sustainability transparency. This has been in part due to a rise in government and stock exchange regulation. Indeed, environmental laws have proliferated, increasing 38-fold since 1972. [15] Mainstream investors are also incorporating sustainability in their decisions.

Promoting a partnership approach, Phillipine explains, ‘We advocate for industry-led Extended Producer Responsibility (EPR) in partnership with government. Working in partnership allows the adoption of what works best for both government and industry which is more sustainable than adopting what has been prescribed.’

Preferring a sweet carrot approach, Phillipine suggests, ‘Sustainability should be a part of every company’s DNA. What can be done is to provide more incentives – for instance tax rebates – to encourage initiatives around clean energy and environmental practices; and encouraging diversity.’

She declares, ‘As Coca-Cola, we have experience in self-regulation by being a part of various partnerships with other industry players to achieve common goals. We belong to PET Recycling Company – PETCO – in various countries; which represents the plastic industry’s joint effort to self-regulate post-consumer polyethylene terephthalate (PET) recycling.’

Phillipine further enlightens, ‘This is an industry-driven and financed environmental solution that has led to the most successful recycling rates in countries like South Africa. To achieve this everyone involved, from the raw material producers, the converters, brand owners, retailers, consumers and recyclers are playing their part in the solution.’

Without A Script 
Long gone is command-and-control…a leadership style that is greatly at odds with the current youthful workforce. Instead, a sustainable business leader is able to coax and draw out positive energy, creativity and innovation from the people with whom they work with.

This latter approach is recommended in the modern day, fast-paced environment which demands that everyone leads. Even without a title. [16] It demands agility as a core element of organizational culture. It demands shooting before taking aim. Through mentorship and coaching, leaders grow more leaders who can effectively work within such high adrenalin settings. Usually without a script…

[14] Simon Sinek, Author, 2019, The Infinite Game

[15] Dramatic growth in laws to protect environment, but widespread failure to enforce, finds report (2019) www.unenvironment.org 
[16] Robin Sharma

Excerpt from Phillipine’s Feature: ‘CCA: BUILDING AFRICA ‘ Sustainable Business Coffeetable book