The chief executive of B Lab Africa, Ms Lucy Muigai, has expressed optimism that other corporations in on the continue, especially in the West African region, would be inspired to pursue B Corp certification like FanMilk.
FanMilk recently became the region’s first largest Fast Moving Consumer Goods (FMCG) firm to earn a B Corp (Benefit Corporations) certification.
The world is changing and no longer is it good enough for companies to merely have ESG targets in place and loosely report on these. Consumers expect high verified levels of social and environmental performance, as well as complete transparency and accountability.
For Ms Muigai, FanMilk becoming B Corp certified has paved the way for others to pursue B Corp certification because of its usefulness.
“Scaling up accreditation for large multinational organisations is challenging, both legally and operationally. However, it also raises business standards, inspiring corporations to act as a force for good.
“We believe FanMilk’s certification in the local FMCG sector will encourage more multinational companies to create social and economic value,” she stated.
Commenting on the latest development, the Managing Director for FanMilk Ghana and Francos, Mr Lionel Parent, said the certification has become the gold standard for proving a business’s genuine commitment to social and environmental impact.
“FanMilk is one of only 5 FMCG companies in West Africa to have achieved this certification. Certainly, the process for B Corp certification is rigorous, as it relies on intense impact assessments from employees, to customers, governance, the communities in which they operate as well as the environment, but it provides a certified mark of trust for consumers when purchasing,” he stated.
“Becoming the first largest multinational in West Africa to receive B Corp status not only complements our Danone Impact Journey (DIJ) pillars of Health, Nature and People, but verifies our efforts at the highest known level, worldwide,” Mr Parent added.
On his part, the Managing Director of FanMilk Nigeria, Mr Kayode Adebiyi, said, “At FanMilk, we realise that the health of the planet and the health of our people are interconnected and therefore ensuring we have a real impact is what we are striving for, and this B Corp certification is testament to this.”
“A B Corp certification is not just a badge of honour, it is a powerful testament to a company’s dedication to sustainability, ethics, and positive impact and we are proud to be part of this new age of sustainable business – profit for purpose!” he added.
Originating in the United States in 2006, the B Corp movement now spans 103 countries and 160 industries, with over 9,500 companies certified worldwide, a clear signal to consumers, employees, and investors that a company is using business as a force for good.