Monday, February 26, 2024
Home Blog

AU Summit Africa Business Forum addresses ‘Making Development Investable’

0

Leaders from the African government, civil society, investment and business community, convened over the weekend in Addis Ababa, Ethiopia, for the 37th African Union (AU) Summit and the Africa Business Forum (ABF) 2024, co-hosted by the UN Economic Commission for Africa (UNECA) and Google.

Africa investor’s CEO and Chair, Dr. Hubert Danso Chaired the ‘Making Development Investable’ roundtable.

 

How the AU Can Confront Africa’s Unaddressed Scope 3 Equivalent in Private Capital Mobilization

0

As African Heads of State participate in the thirty-seventh ordinary session of the Assembly of Heads of State and Government of the African Union in Ethiopia this week and grapple with climate finance challenges, a hidden crisis akin to the “Scope 3 challenge” in global climate finance looms large.

The imperative to mobilize private capital at scale for Africa’s $3 trillion of Nationally Determined Contribution (NDC) and sustainable development investment projects by 2030 is obscured by an exaggerated emphasis on Multilateral Development Bank (MDB) concessional loans, which, after all the reforms, will at best only address 10% of Africa’s private capital mobilization financing gap.

Much like the scrutiny investors face in accounting for Scope 3 emissions, African governments and MDBs must confront the hidden “Scope 3 equivalent” – the private capital mobilization market failure — the 90% financing and investment gap that demands immediate attention and strategic institutional investor at scale intervention. The urgency of recognizing and addressing this issue is heightened by Africa’s soaring external debt, reaching 29% of GDP in 2022, coupled with declining Official Development Assistance (ODA).

To achieve the Nairobi Declaration and the Sustainable Development Goals (SDGs), Africa requires at least an additional annual financing of approximately USD 194 billion, a goal that current MDB efforts fall significantly short of and are incapable of mobilizing from the private sector.

This call to action implores Heads of State and MDBs to augment and shift focus from the 10% addressed by MDB concessional loans, to urgently partner with the institutional investment community (representing over $150-$200 trillion of assets) as universal owners, to play a leadership role in addressing the hidden 90% private financing gap exacerbated by the pervasive MDB private capital mobilization market failure. Regulatory bodies from the European Union, Japan, the UK, and others signal the impending mandatory disclosure of private sector contributions, echoing the evolving landscape of Scope 3 reporting.

Institutional Investor-Public Partnerships (IIPPs) and blended investments are indispensable to co-create bankable NDC projects and bridge this financing gap at scale and speed. Much like the push for mandatory Scope 3 disclosures, governments and MDBs must incentivize the institutional investment community to invest and procure at scale as universal owners, to close Africa’s financing gap at speed.

The transformative role of entrepreneurial philanthropies, spearheading and catalyzing Africa’s private capital mobilization paradigm shift, – rendering African Green Industrial Infrastructure a globally competitive investable asset class, which makes development investable, not investment development, cannot be overstated.

In essence, this call to action advocates for a comprehensive and strategic approach to address Africa’s “Scope 3 equivalent” of private capital mobilization at scale. The focus should be on making development investable by unlocking the potential of the African Union’s 5% Institutional Investment Agenda, IIPPs, and blended investments, to close the investment gap, ensuring the responsible mobilization of private capital at scale and speed for Africa’s Nairobi Declaration, is incentivized and mainstreamed as the expectation, not the exception.

Africa investor’s Dr. Hubert Danso will be chairing the high-level panel on ‘Making Development Investable’ at the Africa Business Forum, alongside the thirty-seventh ordinary session of the Assembly of Heads of State and Government of the African Union in Addis Ababa, Ethiopia. See Ai MDB Reform Private Capital Mobilization Initiatives here 

Ends…

Ai Combating Climate Change

Bankers Push World Bank to Unlock Secret Data For Climate Loans

0

 As the finance industry faces mounting pressure to play its part in fighting the climate crisis in the developing world, bankers point to a significant hurdle—one the World Bank and other public sector financiers have yet to remove.

The problem, they say, is data.

Executives from banks, including Citigroup Inc., say they could offer better rates and access to some of the world’s most debt-stressed countries if the World Bank Group’s International Finance Corp., the European Investment Bank and a group of multilateral development banks grant them access to their data on $1.5 trillion in emerging market debt. 

The Global Emerging Markets Risk Database, or GEMs, contains three decades of loan performance and default data from multilateral development banks. Commercial bankers contend that access would enable them to base their risk calculations on historic record, rather than proxy and perception. This, in turn, could allow them to charge less to lend and possibly offer financing in places and for projects they would otherwise avoid.

Currently, the data is only available to the consortium’s 24 member institutions, and despite pressure from the G20 and promises to reform, they’ve refused to share.

“I bet that we are calculating more risk than we need to, but we still don’t have the GEMs data to prove it,” said Jay Collins, vice chairman of banking and public sector at Citigroup.

The MDBs have been promising to make the data available, and investors are tired of waiting. Asking MDBs to disclose the GEMs data is “like asking a turkey to vote for Christmas,” said Hubert Danso, chief executive and chairman of Africa Investor. “They’ve got all the nice answers and reasons why it can’t happen at the administrative level,” he said, but it’s ultimately an “antagonistic stance” that “undermines the private sector’s ability to be a much bigger contributor.”

The growing debt crisis in emerging markets has brought the issue to the fore. Almost 40 poorer countries are in or at high risk of debt distress, according to the World Bank. One in every four is effectively priced out of international capital markets.

What’s more, many of those countries are extremely vulnerable to climate change. Of the roughly $2 trillion a year they’ll need in climate finance by 2030, up to 90% will have to come from the private sector, the IMF estimates —but that money is getting harder to access and increasingly expensive to borrow.

The GEMS data could show that investing in many of those places isn’t as risky as the commercial banks currently assume, said Christopher Marks, head of growth markets, innovative finance and portfolio solutions for Europe, the Middle East and Africa at Mitsubishi UFJ Financial Group Inc. That in turn “will lower the cost of financing and allow us to argue with the rating agencies that some of our private sector-financed activities could be rated more highly,” he said.

A spokesperson for the EIB, which founded GEMs in 2009 along with the IFC, said the consortium is “committed to the goal” of making the data accessible to investors and the broader public. GEMs recovery statistics in particular are “well on track” for publication by the end of March, which will be an “important step forward,” the spokesperson said. 

Debate over the role of international development banks has become central to global efforts on climate. The way commercial banks see it, MDBs are supposed to lend in markets that the private sector considers too risky; for their part, the MDBs are expected to be prudent with the public’s money.

As a result, the two are often competing in medium-risk markets, with the public institutions at an advantage because of their historical data, the commercial banks say. That means public funds are being spent in countries and on technologies that private funds could take on at the expense of the places and products that they can’t.

“Public development financing should focus on jurisdictions, technologies and sectors where there is genuine financial additionality,” said MUFG’s Marks. “Too much public development money still flows into middle-income countries rather than focusing principally on more vulnerable jurisdictions.”

The EIB said it focuses on sectors and policy areas that are sometimes “not well served” by the market, and aims to lend alongside private sector investors, crowding them in, not out. A spokesperson for the IFC said it’s “vital that we remain engaged in middle-income countries.” That’s because it’s here where most of the extreme poor live and the IFC can help create jobs, economic growth and improve living conditions, the spokesperson said.

Making the GEMS data more readily available isn’t as simple as handing out logins and passwords, the EIB spokesperson said. The consortium’s steering committee says it wants to turn GEMs into a stand-alone entity, a move recommended by a G20 expert panel in 2022. That would ensure improved data governance and quality control. but it requires better collaboration among stakeholders, the panel said. Cleaning, standardizing and ensuring the accuracy of data across such a large group of institutions is, ultimately, a mammoth task.

Newly installed World Bank President Ajay Banga,  former chief executive officer of Mastercard Inc., has made improving collaboration with the private sector a core priority. He said in October that the group planned to start granting access to the GEMs data “in a matter of months.”

Citigroup’s Collins said that if Banga can deliver, it would be a “huge step forward” and finally “put this issue to rest.”

After all, for all the shared panels and public statements, it’s progress on tangible tasks like GEMs transparency that showcases true intent. “It’s a question of commitment to the reforms senior policymakers have advocated for years,” Marks said. “Are these institutions willing to compromise a little bit of their existing business model to achieve that?”

His Excellency Sheikh Shakhboot bin Nahyan highlights United Arab Emirates commitments to Africa at Conference of the Parties (COP28)

0

His Excellency Sheikh Shakhboot bin Nahyan Al Nahyan, Minister of State, participated in the ‘Africa Investment Earthshot Leaders’ Summit’ at the Conference of the Parties to the United Nations Framework Convention on Climate Change (COP28), which is currently being held at Expo City Dubai.

During a keynote speech, His Excellency highlighted the most prominent pledges and commitments announced by the UAE which will be implemented in Africa during COP28. Most notable was the allocation of USD 200 million to bolster climate resilience in vulnerable countries, and USD 100 million of new finance for nature-climate projects, with an initial USD 30 million investment as part of the government of Ghana’s ‘Resilient Ghana’ plan.

His Excellency also stated that: “Under the leadership of His Highness Sheikh Mohamed bin Zayed Al Nahyan, UAE President, the UAE is continuously working to ensure the establishment of a prominent and effective regional Africa investment Earthshot partnership, which reflects the UAE’s commitment to enhance long-term partnerships that aim to develop and invest in Africa as equal economic partners to achieve mutual interests.”

His Excellency commended the endeavors of Africa leaders in bridging the African continent’s climate gap of USD 3 trillion and the gap of investing private capital in sustainable development goals, through institutional partnerships between the private and the public sector.

Furthermore, His Excellency Sheikh Shakhboot bin Nahyan held numerous bilateral meetings with several officials in Africa, where His Excellency signed Memorandums of Understanding and bilateral agreements in various fields, on the sidelines of the meetings.

His Excellency’s continuous engagements at COP28 pertaining to the challenges facing the African continent reflects the UAE’s unwavering commitment to collaborate with its partners in Africa to reach pragmatic and sustainable solutions, and to enhance the international community’s climate action in countries most vulnerable to the risks of climate change, particularly in the Global South.

Distributed by APO Group on behalf of United Arab Emirates Ministry of Foreign Affairs & International Cooperation.

See how Ai is Combating Climate Change

Mercer unpacks Asset Allocation at The COP28 Africa Investment Earthshot Leaders’ Summit

0

Mercer, a business of Marsh McLennan (NYSE: MMC), the world’s leading professional services firm in the areas of risk, strategy, and people advising trillions of institutional assets, shared asset allocation assumptions at the COP28 Africa Investment Earthshot Leaders’ Summit, hosted by the COP28 Presidency, in association with The African Union Development Agency (AUDA), The AU Continental Business Network (CBN), Africa Investor (Ai) Group, and The Energy Nexus Network (TENN).

The COP28 Africa Investment Earthshot Leaders’ Summit builds on the Africa Climate Summit and the African Union’s 5% Infrastructure Investment Allocation Agenda (The 5% Agenda) to establish African green industrial infrastructure as a globally competitive investable asset class.

With Africa possessing 40% of the worlds super abundant natural capital for renewables, 60% of the green critical and in high demand minerals for the world’s transition, a plethora of emerging green industrial cities creating Africa’s silicon valley for global green technologies manufacturing corporations, and the continent possessing more than 50% of the world’s workforce by the end of the century with its youth bulge, Africa is uniquely positioned to significantly increase its share of the $10 trillion per annum and growing global green industrial economy and deliver market competitive, risk and climate adjusted returns, representing a unique and multi-generational investment opportunity for domestic and global long-term institutional investors representing over $150-200trn of assets under management.

The summit’s aim was to shape an African investment Earthshot Investment Allocation Plan for the Nairobi Declaration, to mobilise private capital at a scale that can be deployed at speed, de-risked through Institutional Investor-Public Partnerships (IIPP’s), and optimally marry African regional and global energy market demand with Africa’s industrial and Just Energy Transformation and growth, and to represent stable and performing assets in institutional investors’ portfolios.

The Summit brought together an influential group of visionary institutional investment leaders, comprising pension plans, sovereign funds, insurance companies, investment consultants and leaders representing more than $100trn of domestic and global institutional assets, to share insights to government and investment  leaders on a new institutional investor-public partnership agenda facilitated through an Africa Investment Earthshot process, to collaboratively draft an African investment Allocation Plan, which supports private capital mobilization at scale, for the Nairobi Declaration, as the continent’s equivalent of the Inflation Reduction Act (IRA) and Europe’s Net Zero Industry Act (NZIA) during The COP28 Presidency.

Mercer shared highlights from its note prepared for the Summit on ‘Considerations in Establishing Specific, Dedicated Allocations to Emerging Markets Infrastructure and Private Equity’. Rich Nuzum, CFA, Executive Director, Investments & Global Chief Investment Strategist, Mercer in delivering the paper, recognised that whilst some of the world’s largest, most sophisticated asset owners and fiduciaries (collectively “asset owners”) have established dedicated allocations to emerging markets infrastructure and/or private equity, as part of their strategic asset allocations or other means of deploying their risk budgets, he highlighted his intervention was intended to help educate asset owners who have not yet established such allocations, regarding some of the common considerations that come into play, as asset owners work through their deliberations on the pros and cons of establishing such allocations.

Speaking at the Summit, Dr. Hubert Danso, CEO and Chairman, Africa investor (AI), Chairman, African Union Continental Business Network (CBN), and co-host of The COP28 Investment Earthshot Leaders’ Summit and NDC Investment Awards, said,

“GIC’s are central to the delivery of Scope 3 decarbonisation, JET-Ps, the African Continental Free Trade Area (AfCFTA), and the African Union’s Nairobi Declaration. We therefore need to enfranchise more at-scale investment innovations and institutional investor-public partnerships (IIPPs), as well as the use of catalytic digital twin technologies, to bring together institutional investors, industrial companies, SME’s, and mayors while disencumbering and networking global off-take markets. This type of GIC place-based impact investment network is at the core of the emerging GIC Global Alliance we will launch during the COP28 Presidency”, says Dr. Hubert Danso, CEO and Chairman, Africa investor (AI), Chairman, African Union Continental Business Network (CBN), and co-host of the COP28 Investment Earthshot Leaders Summit and NDC Investment Awards

The Summit underscored that investable African Green infrastructure and industrialization, with global commercial, technology partnerships, and long-term bankable offtakes, represent a compelling strategy for the continent to leapfrog from a $9bn to a $7trn participation in global green value chains, whilst at the same time establishing African green industrial infrastructure as a stable and performing piece in asset owners portfolios, with the Nairobi Declaration as the enabling political framework, de-risked through Institutional Investor-Public Partnerships (IIPPs).

Read the Mercer note here: https://tinyurl.com/skkhu8xb

See how Ai is Combating Climate Change

Investable Green Industrial Cities Standards previewed at COP28 Africa Investment Earthshot Summit

0

While Special Economic Zones (SEZs) are well-recognised place-based investment tools for economic development, there is an urgent need to evolve bankability models and practices in the direction of investable Green Industrial Cities (GICs). GICs are destinations that nurture productive, long-term growth and attract industrial capital at scale. However, they do much more. GIC’s represent a greening and investment transformation that refurbishes existing and future SEZs, making them more attractive and resilient as green manufacturing hubs for productive innovation and industrial growth.

The Africa Climate Summit 2023 and its Nairobi Declaration underscored the need for institutional investor public partnerships to mobilise private capital at scale and speed to make the continent a global green technologies and manufacturing leader and capture its outsized share of the $10 trillion per annum and growing global Green Industrial Economy. While investments are pivotal, so are the methods and tools that will ultimately unite the interests of both institutional investors, industrial companies, SME’s, and local communities to deliver a place-based, just energy investment transition. This is of particular importance for communities sitting on significant mineral reserves critical for green transition technologies in high global demand.

“GIC’s are central to the delivery of Scope 3 decarbonisation, JET-Ps, the African Continental Free Trade Area (AfCFTA), and the African Union’s Nairobi Declaration. We therefore need to enfranchise more at-scale investment innovations and institutional investor-public partnerships (IIPPs), as well as the use of catalytic digital twin technologies, to bring together institutional investors, industrial companies, SME’s, and mayors while disencumbering and networking global off-take markets. This type of GIC place-based impact investment network is at the core of the emerging GIC Global Alliance we will launch during the COP28 Presidency,” says Dr. Hubert Danso, CEO and Chairman, Africa investor (AI), Chairman, African Union Continental Business Network (CBN), and co-host of the COP28 Investment Earthshot Leaders Summit and NDC Investment Awards.

The summit saw the release of a working paper on Green Industrial Cities, prepared by a team of global experts on cities, energy, investment, and finance. This initiative comes on the back of a collaboration signed earlier this year between United Cities, and the African Union convened, investor-led Just Transition Investors Alliance (JTIA). The publication draws on proven models  for establishing the operating system for investable future Green Industrial Cities.  

In a comment, contributor and United Cities Sustainability Centre CEO, Dr. Kristian Mjoen, explained:

“GICs are a more viable way for cities to pursue financial stability, investment attractiveness, circular infrastructure resiliency, and long-term offtakes. The status quo will not suffice.”

The next session on the GIC working paper will be convened as part of the Net Zero Energy and Prosperity Conference to be hosted in Trondheim, Norway, on January 25, 2024. Inquires about the publication or the GIC Global Alliance can be directed to post@unitedcities.net.

The working paper has been supported by Norway through a High Potential Opportunities (HPO) grant from Innovation Norway.  

Link to the working paper: https://tinyurl.com/yhu3xfft

See how Ai is Combating Climate Change

The COP28 African Investment Leaders Earthshot Summit showcases investments to support the Nairobi Declaration mobilize private capital at scale

0

With more than $100trn of domestic and global institutional assets represented at the Summit, influential public and private sector investment leaders gathered at the COP28 Africa Investment Earthshot Leaders’ Summit, in the first major international gathering of institutional investors following the Africa Climate Summit. The aim is to shape an African investment Earthshot Investment Allocation Plan for the Nairobi Declaration and to mobilize private capital at a scale that can be deployed at speed, through Institutional Investor-Public Partnerships (IIPP’s) that can optimally marry African regional and global energy market demand, with Africa’s industrial and Just Energy Transformation and growth.

Hosted by the COP28 Presidency, in association with The African Union Development Agency (AUDA), The AU Continental Business Network (CBN), Africa Investor (Ai) Group, and The Energy Nexus Network (TENN), the Summit underscored that Green industrialization with global commercial, technology partnerships, and long duration offtakes, are the only way that Africa can leapfrog from a $9bn to a $7trn participation in global green value chains.

The Summit builds the Africa Climate Summit and the African Union’s 5% Infrastructure Investment Allocation Agenda (The 5% Agenda) to establish African green industrial infrastructure as a globally competitive investable asset class.

The COP28 African Investment Leaders Earthshot Summit was graced with keynote addresses from His Excellency Sheikh Shakhboot Nahyan Al Nahyan, Minister of State for Foreign Affairs of The UAE, H.E. Hage Gottfried Geingob, President of the Republic of Namibia, H.E. Bekele-Thomas, Chief Executive Officer of The African Union Development Agency (AUDA-NEPAD), H.E. Adnan Amin, CEO of COP28, Dr. Hubert Danso, Chairman, AU Continental Business Network (CBN) and the Africa investor (Ai) Group, and Dr. Kandeh Yumkella, Former UN Under-Secretary-General and Special Representative of the UN Secretary-General.

Africa Investment Earthshot initiatives showcased

Africa Investment Earthshot institutional ecosystem leaders, showcased several scalable, replicable, and bankable projects and initiatives capable of establishing African Green Industrial Infrastructure, as a globally competitive investable asset class, buoyed by the Nairobi Declaration as the enabling political framework, equivalent to America’s Inflation Reduction Act (IRA) and Europe’s Net Zero Industry Act (NZIA)), with the Africa Investment Earthshot’s Investment Allocation Plan as the institutional investor-public partnership private capital mobilization instrument.

The Summit also hosted and announced the winners of the prestigious 2023 African NDC Investment Awards, which was launched at COP27, to reward the governments, institutions, and individuals driving transactions that are improving the investment readiness of Africa’s NDC projects requiring $3trn of investment by 2030.

In her keynote address, H.E. Bekele-Thomas, Chief Executive Officer of the African Union Development Agency (AUDA-NEPAD), stated,

“We would ensure that this new institutional investor-public partnership is well reflected in the AUDA-NEPAD programme delivery report at the upcoming AU Heads of State Summit in 2024 and to building momentum throughout and in collaboration with the COP28 Presidency, with formal progress reports being presented at COP29 and the next Africa Climate Summit.

**ENDS**

See How Ai is Combating Climate Change

Africa investor NDC Investment Award Winners announced at COP28

0

Dubai, Johannesburg, Nairobi, Lagos, Washington, Brussels, Beijing, Dubai –  5th December  2023: Africa investor (Ai), a leading international investment group, today announced that African Governments and business leaders, were honoured at the Africa investor (Ai) NDC Investment Awards, held on the 5th of December 2023 at COP28, during The COP28 Africa Investment Earthshot Leaders Summit & NDC Investment Awards at Expo City Dubai, UAE.

These first-of-their-kind NDC Investment Awards, sponsored by the African Green Infrastructure Investment Bank (AfGIIB), were designed to recognize achievements across the main NDC 10 project sectors and reward the governments, institutions, and individuals, driving transactions and improving the investment readiness and ambition, of Africa’s NDC projects requiring $3trn of investment by 2030.

The NDC Investment Awards were launched at the Commonwealth Heads of Government Meeting in Kigali, in June 2022, with the inaugural awards presented in November 2022 at COP27 in Egypt.

The 2023 NDC Investment Awards were profiled at the Africa Climate Summit in Nairobi, with the Best Shortlisted NDC projects comprising 160 projects, representing over $35bn of NDC financing and investment opportunities, from 43 African countries and all 5 African sub regions, announced during Climate Week at the 78th Session of the UN General Assembly in New York.

To recognize exemplary Presidential leadership on Africa’s climate investment agenda, the NDC Awards Secretariat presented its prestigious, special NDC Presidential Investment Climate Statesmen of the Year Awards during the ceremony in Dubai.

Commenting on the Ai NDC Investment Awards winners, Dr. Hubert Danso, Chairman of Africa investor Group and the Chair of the NDC Awards Adjudication panel said,

“Africa investor (Ai) is proud to use its global investment platform to showcase and recognize Africa’s NDC project sponsors, developers, financiers, investors and Presidential Climate Investment Champions. This growing community of leaders are critical to the continent mobilising the required $3trn of green investment for our NDC’s by 2030, to pursue Africa’s NetZero aspirations. We congratulate all the shortlisted and winning candidates on their climate investment leadership.”

The NDC Investment Awards high-level Adjudication panel included:

  • Hubert Danso, Chairman of Africa investor Group and the Chair of the NDC Awards Adjudication panel
  • Damilola Ogunbiyi, CEO and UN SRSG for Sustainable Energy for All, Co-Chair of UN-Energy.
  • Ziad-Alexandre Hayek, President of the World Association of PPP Units (WAPPP).
  • John Denton, Secretary General of the International Chamber of Commerce (ICC).
  • Kandeh Yumkella, Former UN Under-Secretary-General and Special Representative of the Secretary-General and CEO.

The Africa investor (Ai) NDC Investment Awards, are held in collaboration with the African Green Infrastructure Investment Bank (AfGIIB).

Ai African NDC Investment Awards Winners 2023:

NDC Presidential Champion Award Winners

  1. Presidential “Green Infrastructure Investment Statesman” Of The Year

His Excellency Hage Gottfried Geingob, President of The Republic of Namibia

  1. Presidential “Agriculture Investment Statesman” of the Year

His Excellency Julius Maada Wonie Bio, President of The Republic of Sierra Leone

  1. Presidential “Just Transition Investment Statesman” Of The Year

His Excellency William Ruto, President of the Republic of Kenya

  1. Presidential “Carbon Investment Initiative Statesman” Of The Year

His Excellency Denis Sassou Nguesso, President of The Republic of Congo

  1. Presidential “Transport Investment Statesman” Of The Year

His Excellency Paul Kagame, President of The Republic of Rwanda

  1. Presidential “Water Investment Statesman” Of The Year

His Excellency Bola Tinubu, President of The Republic of Nigeria

  1. Presidential “Energy Investment Statesman” Of The Year

His Highness King Mohammed VI, President of The Kingdom of Morocco

NDC Project Award Winners:

  1. Best Urban Development NDC Investment Initiative of The Year

Chongwe Smart City Renewable Energy Project, The Government of Zambia

  1. Best Agriculture NDC Investment Initiative of The Year

Using Agricultural residue to achieve health and climate benefits from cleaner cooking, National Council on Climate Change (NCCC) Nigeria

  1. Best Health NDC Investment Initiative of The Year

Global Health Corps (GHC) 2022, GHC Malawi, Rwanda, Uganda, Zambia and America

  1. Best Transport NDC Investment Initiative of The Year

E-mobility venture, Basigo Ltd Kenya

  1. Best Water NDC Investment Initiative of The Year (Joint initiative)

Climate Investor Two (CI2) – Water, Sanitation, and Oceans Infrastructure Projects, Climate Fund Managers B.V

  1. Best Waste NDC Investment Initiative of The Year

The Power of Waste, Phoenix Edison Nigeria

  1. Best Tourism NDC Investment Initiative of The Year

Rhino Africa Corporate Social Responsibility (CSR), Rhino Africa Namibia

  1. Best Forestry NDC Investment Initiative of The Year

Irise Malawi, Irise Global Inc Malawi

  1. Best Energy NDC Investment Initiative of The Year

Siwa Solar PV Plant, MASDAR Egypt

  1. Best Education NDC Investment Initiative of The Year

Food for Education (F4E), Kenya 

  1. Best Financeable NDC City Initiative of the Year

Green City Kigali (GCK), FONERWA Rwanda

  1. Best GreenTech NDC Initiative of the Year

Early-stage Tech start-ups, The Catalyst Fund Africa

  1. Best Investable NDC Adaption Initiative of the Year

Building the Resilience of Local Communities in Zambia through the Introduction of Ecosystem-based Adaptation (EbA) into Priority Ecosystems, including Wetlands and Forests, The Government of Zambia

  1. Best Bankable Donor NDC Initiative of the Year

Etihad 7, United Arab Emirates Ministry of Foreign Affairs and International Cooperation

  1. Best Blended Investment NDC Initiative of the Year

GAIA’s Blended Finance Fund, Mitsubishi UFJ Financial Group Bank Latin America, Caribbean, Africa, Asia-Pacific and FinDev Canada

  1. Best Youth NDC Initiative of the Year

Ivoire Myciculture Distribution (IMD), Cote d’ivoire

 

ENDS**

Note to Editors

For more information on the Ai African NDC Investment Awards, visit: www.ndcinvestmentawards.com, or email: awards@africainvestor.com

 

About The NDC Investment Awards Headline sponsor

The African Green Infrastructure Investment Bank (AfGIIB) is an African Union-convened and supported African institutional investor-led, global climate investment platform, to catalyze private capital for Africa’s green transition. Visit www.afgiib.com for more information.

About Africa investor Group

Africa investor (Ai) Group is an institutional investment holding platform that aligns its pools of capital from sovereign wealth funds, pension funds, family offices, and long-term investors with vetted infrastructure, private equity, and technology investment opportunities in Africa. Visit www.africainvestor.com

See how Ai is combating Climate Change

Africa investor announces GEMs3.0 at COP28 Finance Day in Dubai

0

Dubai, 4th December 2023 – Africa investor (Ai) unveiled the GEMs3.0 initiative today during COP28 Finance Day.

Over the past decade, more than 500 private investors have asked the MDBs and DFIs to make the Global Emerging Markets Database (GEMs) database available to allow investors to gain a deeper understanding of investment risk in Emerging Markets and Developing Countries (EMDC’s), helping to increase their investment in these countries.

Forced by the alarming public evidence of the tens of billions of dollars of lost opportunities and direct costs to EMDC’s of Multilateral Development Banks (MDB’s), not releasing the GEMs database to investors and credit rating agencies, MDBs have grudgingly committed to providing access to GEMs data in January 2024, through the GEMs2.0 initiative.

Ai established the GEMs3.0 initiative to accelerate and shift GEMs2.0 from minimal disclosure to a data driven asset allocation at scale platform for Africa and EMDC’s.

GEMs 3.0 is an institutional investor-led Emerging market and Emerging Markets including Africa (GEMs is global) investment risk data analytics initiative, to systematically support and  harness investor insights and engagement, to implement the G20 Capital Adequacy Framework (CAF), The COP27 Presidency’s, The New Financial Pact Summit’s, The Bridgetown Initiative’s, The Africa Climate Summit’s, The SDG Review’s, and the $150trn Institutional Investor Consortiums’ COP28 Call-to-Action and recommendations, urging MDBs and DFI’s to take bold and immediate steps to form institutional investor-public partnerships, to democratize GEMs2.0 data analytics access and exponentially increase private capital mobilization allocations and financing capacity, to close the climate and SDG investment and financing gap in Africa and EMDC’s.

GEMs3.0 will build on and expand GEMs 2.0 with new data based on inputs from the institutional investment community, including the top rating agencies. GEMs3.0 aims to transform GEMs2.0 data into an asset allocation tool, to enable institutional investors to contribute to the process so that issuers, investors, and governments can begin to work together towards de-risking and promoting greater investment allocations and financing to help meet the SDG and the Paris Accord targets.

Read About GEMs3.0 here

Read Hidden GEMs Memo here 

See how Ai is combating Climate Change

COP28: The Infrastructure Corporation of Nigeria, The African Green Infrastructure Investment Bank and Solarge International BV Announce the Intention to manufacture lightweight Solar Panels with an Ultra-Low Carbon footprint in Nigeria

0

3 December 2023: The Infrastructure Corporation of Nigeria (InfraCorp), a US$15 billion government-backed, privately managed infrastructure development, is pleased to announce a strategic partnership with the African Green Infrastructure Investment Bank and Solarge International BV, a leading European manufacturer of lightweight solar panels, for establishing a solar panel manufacturing factory in Nigeria, contributing significantly to the country’s industrialization drive and aligning with the vision of President Bola Ahmed Tinubu for local manufacturing capabilities to create employment, accelerate electrification, and grow the economy while decarbonizing in line with Nigeria’s energy transition commitments.

The Solar PV Manufacturing Plant will be one of the first large scale production facilities in the world for lightweight solar panels with ultra-low carbon footprint. The project will play a pivotal role in Nigeria’s commitment to sustainable local manufacturing and critical infrastructure for achieving Net Zero emissions and advancing its energy transition plan to cleaner and sustainable energy sources, reducing reliance on traditional fossil fuels. More fundamentally, the project reinforces the drive towards localization, green manufacturing and import substitution agenda of the country.

“We are excited about the partnership with Solarge as it aligns with our commitment to driving an accelerated deployment of infrastructure in Nigeria and specifically toward sustainable development and economic growth. The Solar PV Manufacturing Plant represents a critical step in our aspiration to champion the deployment of climate-resilient infrastructure for a cleaner, greener, and more industrially vibrant Nigeria.” – Dr. Lazarus Angbazo, CEO of InfraCorp.
“The African Green Infrastructure Investment Bank (AfGIIB) is delighted to bring Solarge and InfraCorp together, as part of our strategic investment mandate to align global technology and domestic institutional investment partners, to establish and invest in locally owned and run industrial-scale, solar and green manufacturing technologies plants, located in Africa’s emerging world class green industrial cities.” – Dr. Hubert Danso Chair, The African Green Infrastructure Investment Bank (AfGIIB).
“Solarge is honored to collaborate with InfraCorp in advancing Nigeria’s solar energy capabilities. Our joint efforts will contribute to the realization of a sustainable and resilient energy future for the country and strengthen the long-standing bilateral relationship between the Government of Nigeria and the Netherlands.” – Drs. Jan Vesseur, CEO of Solarge.
“This partnership is a significant step forward to realising Nigeria’s ambitions to transition to green sustainable economy, strengthening the relations between Nigeria and the Netherlands. The solar sector not only provides opportunities for climate mitigation but also contributes to increased energy access and job creation. Together, we are committed to leveraging these opportunities for a sustainable and prosperous future”.- His Royal Highness Prince Jaime de Bourbon de Parme, Climate Envoy of The Netherlands.

This strategic partnership marks a significant milestone in Nigeria’s journey towards a sustainable and resilient energy future. InfraCorp and Solarge are dedicated to driving positive change, fostering innovation, and contributing to the nation’s overall well-being.

For more information:

InfraCorp: Elisha Douglas d.elisha@infracorpnigeria.com

AfGIIB: Hubert Danso hdanso@africainvestor.com

Solarge: Gerard de Leede gerrarddeleede@solarge.com

- Advertisement -
- Advertisement -

RECENT EVENTS