Category: AFRICA

Conference of the Parties (COP28): Multilateral development banks publish first common principles for nature-positive finance

LUXEMBOURG CITY, Luxembourg, December 9, 2023/ — New principles will guide multilateral development banks’ support for countries and the private sector in implementing the Kunming-Montreal Global Biodiversity Framework; For the first time, multilateral development banks define common principles and the criteria for identifying and tracking nature-positive finance; Announcement follows COP26 Joint MDB Statement on Nature, People and Planet. The European Investment Bank (EIB) and fellow multilateral development banks (MDBs) have today published (https://apo-opa.co/3RdNOeQ) common principles for identifying and tracking nature-positive finance. The announcement comes on nature day of the United Nations COP28 climate…

Youth-led African enterprises awarded $800,000 at Conference of the Parties (COP28) for climate solutions

DUBAI, United Arab Emirates, December 5, 2023/ — Eight dynamic African young women-led businesses emerged as winners of the 2023 YouthAdapt challenge. Each business will receive grant funding of up to $100,000. They will also receive a comprehensive mentorship and coaching as part of a 12-month accelerator program. Since its launch in 2021, the YouthADAPT initiative (https://apo-opa.co/49ZU0zH) has provided more than $5 million to 33 young entrepreneurs from 19 African nations. Jointly organised by the African Development Bank Group and the Global Center on Adaptation (https://GCA.org), supported by the Africa Climate Change Fund (https://ACCF.AfDB.org),…

Strengthening African Islands States’ Climate Resilience: President Ramkalawan chairs the AISCC Ministerial Dialogue at COP28

04th December 2023 In the midst of the bustling COP28 in Dubai, a significant event unfolded at the Seychelles Pavilion—the Ministerial Dialogue of the African Union Commission (AUC) in partnership with the African Islands States Climate Commission (AISCC). Seychelles as the Chair of this commission organized this gathering to enhance collaboration among African Island nations and chart a strategic course to amplify the visibility and communication efforts of the AISCC. President of the Republic of Seychelles and Chair of the AISCC, His Excellency President Wavel Ramkalawan, reiterated Seychelles’ dedication to…

African Development Bank with other multinational development banks commits to boost collaboration on climate and development

DUBAI, United Arab Emirates, December 3, 2023/ — Multilateral development banks attending the 2023 UN Climate Change Conference (COP 28) today affirmed their commitment to a concerted, global action, including increasing co-financing and private sector engagement to address climate change, felt acutely in Africa. Despite contributing the least to global warming and having the lowest emissions, Africa faces existential risks due to catastrophic impact of climate change. Perennial droughts in the Horn of Africa and recent devastating floods in Libya, Malawi, Mozambique, Zimbabwe and other parts of the continent have claimed thousands…

Conference of Parties (COP28): Global and African partners pledge $175m to the Alliance for Green Infrastructure in Africa (AGIA)

DUBAI, United Arab Emirates, December 3, 2023/ — In a powerful signal of support during COP28, African and global institutions together with governments of Germany, France and Japan and philanthropies have pledged over $175 million to the Alliance for Green Infrastructure in Africa (AGIA). The landmark initial pledge will help to rapidly scale up financing for transformative climate-aligned infrastructure projects across the continent. The new pledges will also advance AGIA towards its first close of $500 million of early-stage project preparation and development blended capital. The Alliance is a partnership of the African…

Nigeria Launches Long Term Low Emission Development Strategy At COP28

Nigeria has achieved what looks like another major milestone in her effort to achieve a net zero carbon economy by 2060 by launching its Long-Term Low Emission Development Strategy on Friday, December 1, 2023, at COP28 in Dubai, UAE. The event, which was graced by dignitaries and delegates from different countries around the world, was held at the African Pavilion in the Blue Zone and was moderated by Professor Chukwumerije Okereke, Director of the Centre for Climate Change and Development, AEFUNAI, and Dr Eugene Itua, Executive Director of the Natural…

President Ramkalawan addresses the 28th session of the Conference of Parties of UNFCC World Climate Action Summit

02nd December 2023 1st December 2023, Dubai UAE: The President of the Republic of Seychelles, Mr. Wavel Ramkalawan during his address at the Twenty-eighth session of the Conference of Parties of UNFCC (COP28).to which he led a Seychelles delegation, highlighted the urgency for collective action and the need for commitments made to be honoured as part of efforts to mitigate the heightened threats of climate change particular vis-à-vis Small Island Developing States (SIDS) like Seychelles. “In our shared pursuit of a sustainable future, the urgency of our deliberations here in Dubai cannot be overstated. As parties to the convention, we committed to deliver on commitments such as the USD100 billion promise,…

Natural Gas Is Key to a Just African Energy Transition (By NJ Ayuk)

SANDTON, South Africa, November 29, 2023/ — By NJ Ayuk, Executive Chairman, African Energy Chamber (www.EnergyChamber.org). It would be an understatement to say Tanzania’s Songo Songo gas field has been good for the country and its citizens. Since 2004, the project’s output has been put to work to benefit the Tanzanian economy, its domestic energy supply, energy costs, employment numbers, and the environment. With wells and a processing plant on Songo Songo Island, the public/private effort puts domestic needs first, using output to fuel the Ubungo gas-to-power operation as well as…

About African Continental Sustainable Built Environment Industry Summit-ACEACFMS 2023

ACCRA, Ghana, November 29, 2023/- As the day for the largest international Summit for the building, construction and real estate industry maiden event in Ghana, the African Continental Sustainable Built Environment Industry Summit (ACEACFMS 2023), draws closer, confirmations are coming in from both in-person and virtual participants within Ghana, Africa, Canada, Australia & New Zealand among others West African Sub-region Some of the high profile in-person participants from the West African sub-region who have confirmed their participation are, Engr Dr. Modasiru Bola (Principal Partner Prolarank Nigeria Limited currently, the National…

Uganda To Borrow Ksh.23 Billion From China After World Bank Halts Funding

Uganda is preparing to borrow $150 million (Ksh.23 billion) from China’s Export-Import Bank (Exim) to help expand its internet infrastructure, the finance ministry said on Monday.The move underscores the East African country’s increasing reliance for credit on Chinese lenders after the World Bank halted all new lending to Uganda earlier this year in protest at a new anti-homosexuality law. A junior finance minister and the minister for information asked lawmakers on Monday to authorise the debt, the finance ministry wrote on X, the social media platform. The money, the ministry…