MTN Bright Conversations: Businesses urged to place emphasis on ESG

Corporate businesses in Ghana have been encouraged to place equal emphasis on sustainability and Environmental, Social, and Governance (ESG) risks as they do on financial and operational matters, to attract more funding.

Dr. Kwabena Situ, Partner, Assurance at Deloitte Ghana, made the call in Accra on Wednesday during the MTN Bright Conversations, held as part of this year’s MTN Ghana Sustainability Week. The event was themed “Sustainability, A Strategic Imperative for Business Growth and National Development.”

Dr. Situ highlighted that sustainability and ESG present enormous opportunities for Ghanaian businesses, noting that the Ghana carbon market alone is projected to generate about US$1 billion in investment between now and 2030. “Companies that prioritise sustainability and ESG can attract funding to finance their operations,” he said.

He stressed that ESG is not merely a compliance requirement but a key driver of business growth and competitiveness. Dr. Situ urged businesses to tell their ESG stories while cautioning against greenwashing—the practice of overstating environmental credentials.

To prevent greenwashing, he recommended adopting recognised reporting frameworks such as the Ghana Stock Exchange ESG Guidelines and the Institute of Chartered Accountants Ghana’s sustainability reporting standards, including IFRS 1 and 2, to ensure consistency and credibility.

Dr. Situ outlined four approaches to build trust in sustainability reporting: adherence to recognised frameworks, use of expert practitioners, expanding internal audit functions to include sustainability risks, and conducting external ESG audits. “These measures bring credibility to the entire sustainability journey,” he noted.

He also advised Small and Medium-scale Enterprises (SMEs) to deliberately integrate ESG principles into their operations to attract investment. “Investors are now interested in ESG resilience as much as financial performance,” he added.

The Chief Corporate Services and Sustainability Officer of MTN Ghana, Mrs. Adwoa Wiafe, reaffirmed the company’s commitment to responsible and inclusive business practices. “We are not only looking at our bottom line; we are ensuring the sustainability of our communities and contributing meaningfully to national development,” she said.

Mrs. Wiafe highlighted that the MTN Foundation has impacted education, health, and economic empowerment, while MTN Ghana is transitioning its facilities to solar energy to reduce emissions. She also noted that MTN’s sustainability framework aligns with the United Nations Sustainable Development Goals (SDGs) and national policies, including the Energy Transition Framework and the Affirmative Action Act.

Currently, MTN Ghana has 40 per cent female workforce representation, with a target of 50 per cent by 2030. Mrs. Wiafe emphasised that sustainability is “a journey” requiring deliberate action from both large corporations and SMEs to ensure long-term national growth and resilience.

Paapa Osei, Head of Legal and Reputation Management at Mobile Money Ltd, added that MTN Ghana will continue prioritising sustainability in its operations to protect the environment and communities.

BY KINGSLEY ASARE

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