The African Development Bank’s Director for Climate Change and Green Growth Department has called for more private sector involvement in climate finance. In his remarks at a conference organised by Coalition of Finance Ministers for Climate Action (CFMCA), Professor Anthony Nyong stated that between 2019 and 2022, the private sector financed less than 3% of adaptation projects in Africa. Nyong also highlighted that Africa needs $213.4 billion per year from the private sector in order to close the continent’s climate financing gap by 2030. Mr. Joseph Ng’ang’a, CEO of the Africa Climate Summit and interim CEO for the Global Energy Alliance for People and Planet, also spoke at the event. He emphasises that Africa can be more than a victim of climate change. “We have resources; if we accessed global financing, we could deliver solutions on climate,” he stated.
