Cape Town, 21-22 February 2024: the second edition of the Africa Green Economy Summit (AGES) commenced in Cape Town with great enthusiasm and participation of representatives from African governments, cities, policymakers, UN Agencies, global investors, private sector, innovators, women and youth, friends of the earth and environmental sustainability enthusiasts. More than 400 participants attended, along with over 40 investors actively seeking opportunities to support green bankable projects. A pipeline worth 1 billion US dollars was meticulously prepared and presented during the event. 

AGES is an innovative event that brings together individuals and organizations to promote knowledge, practice exchange, and cooperation in order to lead the continent towards an inclusive, sustainable future. The theme of the second edition of the summit is “Mobilizing Investments for Green Growth,” highlighting the urgent need for increased investments in green initiatives across Africa. The summit aims to stimulate these investments and establish an environment where green African projects can thrive. 

In the opening session of the Summit, Hon. Mr. Collins Nzovu, the Minister of Green Economy and Environment in Zambia stated that the government has adopted green growth to achieve a green economy and, ultimately, sustainable development that is inclusive and leaves no one behind. Zambia is prepared to receive green investments, and the necessary policies, regulatory frameworks, political will, and peace are in place to ensure that your valuable investments are safeguarded.

“Côte d’Ivoire is considering investments in key priorities such as renewable energies, sustainable agriculture, clean transportation, and ecosystem protection to stimulate inclusive, sustainable economic growth while reducing greenhouse gas emissions. To this end, we have undertaken efforts to enhance financing and institutional, technical, and human capabilities to enable effective implementation of climate-compatible projects and deliver value for money to our investors.” said Hon. Jacques Assahoré Konan, the Minister for the Environment, Sustainable Development, and Ecological Transition from Côte d’Ivoire in his opening keynote remark.

In the keynote address, Mr. Harsen Nyambe Nyambe, Director for Sustainable Environment and Blue Economy, representing H.E Amb. Josefa Sacko, the Africa Union Commissioner for Agriculture, Rural Development, Blue Economy, and Sustainable Environment, emphasized that a significant challenge for African countries is access to climate finance. He highlighted the crucial role that the private sector could play in unlocking finance, combating climate change, and promoting an inclusive green growth model. To support African Union Member States in accessing climate finance and attracting investments into green development projects, the African Union Commission established a Climate Finance Unit as part of the implementation of the Green Recovery Action Plan (GRAP).

The AGES was also attended by H.E. Chris Cooter, the High Commissioner for Canada to South Africa; H.E. Alberto Vecchi, the Ambassador of Italy; H.E Raimundo Robredo, the Ambassador of Spain; H.E Paul Amopru, the High Commissioner of Uganda; H.E. Jarr Inalla, the Ambassador of Mauritania; Mr. Allan Winde, the Premier of the Western Cape and Dr. Mallé Fofana, Africa Regional Director of the Global Green Growth Institute (GGGI) who made interventions in different sessions organized during the Summit.

The two-days’ Summit provided a platform for deal-making to showcase African climate change projects from Member States, and selected women and youth projects for investments. A key event was the AU high-level roundtable organized at the Summit in collaboration with GGGI, USAID, and Global Affairs Canada under the theme “Scaling Up Green Investments to Address Climate Change.” The roundtable deliberated on project pipelines from Member States and Regional Economic Communities for investments under the ‘Transformative Climate Finance Program of the African Union Green Recovery Action Plan.’

—————————
About the Transformative Climate Finance Program of the African Union Green Recovery Action Plan

The Africa Union Commission, in collaboration with the Global Green Growth Institute, the Africa Capacity Building Foundation, and Canada’s support, kicked off the first phase of GRAP implementation with the first cohort involving seven AU Member States (Cote d’Ivoire, Ethiopia, Lesotho, Namibia, Rwanda, Senegal, and Zambia) and three Regional Economic Communities (East African Community, Common Market for East and Southern Africa and Southern Africa Development Community).

By leveraging the potential of climate finance and investment possibilities, the GRAP initiative seeks to enable these states and communities to transform their economies to build resilience and reduce vulnerability to future shocks, particularly targeting women and youth.  Based on these pilot experiences, the GRAP approaches would be replicated in additional Member States and RECs in future phases of this program.

—————————
About the African Union

The African Union (AU) is a continental body consisting of 55-member states located on the African continent. The AU’s primary goal is to promote peace, security, and sustainable development across Africa, while ensuring the well-being and prosperity of its people. It is guided by its vision of “An Integrated, Prosperous and Peaceful Africa, driven by its own citizens and representing a dynamic force in the global arena.” And founded on the  Constitutive Act of the African Union and the Protocol on Amendments to the Constitutive Act of the African Union.

* AU Contact: Media Contact: Molalet Tsedeke MolaletT@africa-union.org
* GGGI communications contact: Media Contact: jean.bucyensenge@gggi.org