KPMG survey reveals key SDGs businesses want included in the 2024 budget

A recent survey conducted by KPMG indicates that businesses in the country want the government to prioritize Sustainable Development Goals (SDGs) in the upcoming 2024 budget.

The survey, which engaged 133 businesses spanning various industries, offers valuable insights into the expectations and concerns of these stakeholders regarding the national budget and economic policies.

The report underscores the top three SDGs – No Poverty, Good Health and Well-Being and Quality Education –  that businesses view as imperative for inclusion in the 2024 budget.

Goal 1 – No Poverty

Businesses recognize that addressing poverty is a fundamental prerequisite for building a prosperous society.

They understand that poverty eradication is not only a moral imperative but also a strategic move, as a populace grappling with poverty is unable to actively participate in economic activities and innovation.

Goal 3 – Good Health and Well-Being

The ongoing challenges posed by the COVID-19 pandemic have heightened the significance of ensuring good health and well-being for all.

Businesses emphasize the pivotal role of health in bolstering economic growth and facilitating social transformation.

Goal 4 – Quality Education

Quality education is viewed as a catalyst for societal advancement. Businesses stress the importance of accessible and high-quality education in fostering job creation and empowering the workforce, thus underpinning the nation’s progress.

These SDGs, as identified by the surveyed businesses, are deemed critical for the nation’s advancement, and they call for the allocation of sufficient resources to effectively address these priorities in the forthcoming budget.

In addition, the survey highlights the alignment of businesses with the SDGs, with a noteworthy 85 percent of respondents affirming their businesses’ alignment with these global goals. This underscores a growing awareness among businesses regarding the significance of the SDGs for national development.

Crucially, businesses articulate their commitment to the SDGs through key areas of focus, including human resource development, affordable energy solutions, and responsible utilization of raw materials. These elements are identified as having a substantial impact on economic development, citizens’ well-being, social transformation, and job creation.

Furthermore, the survey respondents provide insightful recommendations for the government to incorporate SDGs into the national budget formulation process. They propose that the government should utilize the SDGs as the foundation for resource allocation and should prepare a qualitative report assessing how the budget aligns with the pursuit of these global objectives. This approach, they contend, will not only bolster the nation’s progress towards the SDGs but will also serve to incentivize businesses to actively engage with and contribute to these vital goals.

In his closing remarks during the post-survey presentation, Evans Asare, Partner of Deal Advisory at KPMG, underscored the profound impact of these focus areas on economic development, citizen well-being, social transformation, and job creation. In a world profoundly impacted by the reverberations of the COVID-19 pandemic, these issues have taken center stage, necessitating immediate attention from governments, particularly in Africa, to sustain efforts aimed at achieving the desired impact.

Source:norvanreports