Cape Town, South-Africa, 23 February 2023 – The Global Green Growth Institute (GGGI) has joined delegates, policy makers, experts, investors, and innovators from across Africa and the world to discuss strategies to advance Africa’s transition to a low-carbon, green, and inclusive economy during.

The 2024 Africa Green Economy Summit (AGES 2024) connects people and organizations, fosters knowledge sharing and collaboration, and explores strategies to steer the continent towards a low-carbon, sustainable, inclusive future. GGGI is a key partner in the organization of the Summit. AGES24 featured keynote addresses from political and business leaders; panel discussions on renewable energy, e-mobility, carbon markets, green investments, water services and waste management; and a project pitching exercise for some of the continent’s most innovative and promising ventures and projects.

At the Summit, GGGI, its Member States, and other participants emphasized the role of governments and the private sector in facilitating access to the needed resources, stimulate investments and attract private sector investments to support the transition to a green economy.

“We need to make sure that we derisk and incentivize climate compatible and green growth investment through blended finance and other options that are available to us in order to attract the private sector finance needed for the transition to green economy,” observed Mr. Harsen Nyambe, the Commission Director of Sustainable Environment and Blue Economy of the African Union Commission,

As a partner in the organization of the Summit, GGGI held a series of engagements, discussions and sessions to discuss and highlight its role in supporting Africa’s transition to a green model of economic and social development.

Dr. Mallé Fofana, GGGI’s Africa Director & Head of Programs noted, “Africa faces significant challenges in its quest for sustainable development but also has lots of untapped opportunities that could significantly boost its transition efforts to a green economy.”  Dr. Malle further highlighted carbon markets and green investments as areas that Africa could further benefit from and noted the continued support of GGGI to its Member States to achieve their low-carbon ambitions.

At the Summit, Dr. Mallé joined a panel discussion on Harnessing Carbon Markets in Africa where he highlighted the immense untapped potential in Carbon Markets that Africa holds, the challenges the continent faces and how GGGI is working with Member States to tap into these markets. He referenced GGGI’s Carbon Transaction Facility (CTF) as a model solution to carbon space and a key innovation to address existing carbon market challenges.

The GGGI also co-organized with the African Union, USAID and Canada a high-level Roundtable discussion on scaling up green investments to address climate change. The Roundtable explored ways and strategies to scale and transform climate financing in Africa in line with AU’s Green Recovery Action Plan.