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Friday, July 3, 2020

Ecobank Group leads new private sector initiative to end malaria - NaijaAgroNet

NaijaAgroNet
The Ecobank Group has reaffirmed commitment to support ending malaria, by launching the first-of-its-kind Zero Malaria Business Leadership Initiative in partnership with Dakar-based not-for-profit strategic communications and advocacy organization, Speak Up Africa, and the UN-hosted RBM Partnership to End Malaria, NaijaAgroNet.

The new programme is set out to drive private-sector engagement on the fight against malaria in Africa. It supports the Pan-African Zero Malaria Starts with Me Movement, led by the African Union and the RBM Partnership to End Malaria launched two years ago today by African Heads of States at the 31st African Union Summit in Nouakchott.

The collaboration will support malaria affected countries across the continent, starting with Benin, Burkina Faso and Senegal by advocating for stronger political will, increased funding, and stronger targeted disease elimination responses. The campaign’s objectives are three-fold:
  • Foster domestic resource mobilization for sustained financing of malaria control and elimination programs
  • Mobilize businesses and business leaders to contribute to the reduction and elimination of malaria;
  • Leverage Ecobank’s networks and partners to reinforce or create collaborative platforms.
“Ultimately, ending malaria will increase prosperity across Africa, by creating a healthier workforce that can drive economic growth. The Ecobank Group is thrilled to collaborate with Speak Up Africa, the RBM Partnership to End Malaria and the African Union on the Zero Malaria Business Leadership Initiative, and to use its position as a platform for co-ordinated action against this treatable and preventable disease”, says Paul-Harry Aithnard, Regional Executive UEMOA, Ecobank.

Originally launched in Senegal in 2014, Zero Malaria Starts with Me engages political leaders, the private sector and communities to take action to protect themselves from malaria, and the new initiative will continue to progress this mission. To date, 15 countries across the continent have rolled out their own national Zero Malaria campaigns.

The World Health Organization (WHO) estimates that over US $10 billion is needed to implement national strategic plans for malaria control in 30 African countries over the next three years[1]. However, despite all the efforts made by governments, funding for the fight against malaria remains a challenge. An annual US $2 billion in additional global funding is required to reach all those at risk of malaria, outlining the importance of private-sector engagement.

“To become the generation to end malaria, it is crucial that we increase funding to fight this disease to protect everyone at risk. There is an incredible opportunity for the private sector to join the fight, and we are thrilled to see the Ecobank Group leading the way with the Zero Malaria Business Leadership Initiative. By increasing private-sector funding and engagement, we will unlock valuable resources and mobilization, that will go a long way in helping us rid the African continent of malaria once and for all”, highlights Dr Abdourahmane Diallo, CEO of the RBM Partnership to End Malaria.

Malaria remains one of the continent’s deadliest diseases, with more than 400,000 fatalities in 2018 alone. Malaria not only impacts the health of communities across Africa, but prosperity too, as the disease limits economic growth and increases poverty amongst the workforce.

Isaac Oyimah/Editor

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Thursday, July 2, 2020

Fayemi dreams of 50,000 affordable homes - NaijaAgroNet

NaijaAgroNet:

The government of Ekiti State under Gov. Kayode Fayemi is dreaming of at least 50,000 affordable homes over the next 10 years, reports 
NaijaAgroNet.

This, 
NaijaAgroNet gathered saw to the partnership of Ekiti State with SHS Holdings and UNOPS have today, July 1, 2020, entered a deal to build at least 50,000 affordable homes over the next decade worth some $2bn.

All of the new affordable homes built will include renewable energy and disease preventative technology – including solar panel roofs, waste-to-energy technology and mosquito-repelling coatings.

The Nigerian state is the latest to join one of the largest affordable housing initiatives in the world, part of UNOPS Sustainable Infrastructure Impact Investments (S3I) - which will deliver 1.3 million homes across multiple countries on three continents over the next decade. The partnership will create thousands of local jobs at the factory and on construction sites and will spur economic growth among a host of local industries.

As part of the agreement signed today, UNOPS and SHS will seek to mobilize resources from third party investors to fund this initiative whose gross development value (based on the sales value of completed homes) is estimated to reach US$2 billion. SHS will supply proprietary state-of-the art technology as well as oversee the development of housing by qualified contractors. UNOPS will bring to bear its comparative advantages in the mandated (by the UN General Assembly) areas, such as: infrastructure, procurement and project management. The Government of Ekiti will identify and allocate suitable land for potential developments, and help create an enabling environment for foreign direct investment and mortgage finance.

S3I aims to break down barriers and create attractive opportunities for private sector investors to engage in long-term development initiatives – with a focus on affordable housing, renewable energy and health infrastructure.

Ekiti State Governor, H.E. Dr. Kayode Fayemi said: “We are very excited to partner with UNOPS and SHS to deliver affordable housing to the people of Ekiti State. This partnership will not only deliver 50,000 homes in our communities, it will also increase foreign direct investment into Ekiti State, and put thousands of our people in jobs. This is how our promise of developing Ekiti, and improving the lives of the people can be achieved. This partnership has come at an important time, during the COVID-19 pandemic, which has reminded us of the need to deliver quality social infrastructure to the people. I am excited that UNOPS and SHS have chosen Ekiti State as the first destination in Nigeria for this project, and we will do everything to ensure we create a model that can be replicated across the country.”

Speaking on the announcement, United Nations Assistant Secretary-General and Chief Executive of S3I (Sustainable Infrastructure Impact Investments), Vitaly Vanshelboim, said: “We are very pleased to support this contribution to Nigeria’s national development priorities and in particular, to help meet the critical need for affordable housing, through innovative approaches to construction and mortgage financing. UNOPS is strongly committed to helping find new ways to finance inclusive, resilient and sustainable development activities that generate positive social, economic and environmental impacts.”

Dr Allen Zimbler, Chairman of SHS Holdings, said: “SHS Holdings is proud to participate in signing a collaboration agreement with the Ekiti State Government of Nigeria and UNOPS in respect of building at least 50,000 sustainable housing units for key government employees and other eligible citizens, in sites to be identified within the State. SHS is committed to making housing accessible to all, using a robust and reliable construction technology, and employing proprietary energy efficient solar rooftops, waste to energy technology and mosquito-repellant coating. We look forward to working with the Ministry of Lands, Housing and Development of the Ekiti State Government and to creating opportunities for the employment of significant numbers of local citizens in the process.”

Isaac Oyimah/Editor

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Wednesday, July 1, 2020

Africa needs inclusive workable energy transition - NaijaAgroNet

NaijaAgroNet:

The African Energy Chamber takes notes of recent initiatives taken by the International Energy Agency (IEA) to support Africa’s energy transition and salutes the leadership of the IEA in this dialogue, reports 
NaijaAgroNet.

Such conversations notably echo the Chamber’s recent statement on African Lives Matter, questioning the OECD and IEA’s recent call to phase out fossil fuels. While the conversation of Africa’s energy transition continues, the Chamber reiterates its support to inclusive dialogues that take into account the realities of African economies and of energy poverty.

Unfortunately, the Africa Ministerial Roundtable organized this week has sidelined key stakeholders and actors within Africa’s energy sector, preventing its ability to be truly inclusive and impactful on the ground. Africa’s energy transition will not be possible without the inclusion, and participation of, the continent’s petroleum and gas ministries and companies.

The Chamber strongly believes that key institutions like the African Petroleum Producers Organization (APPO), led by its Secretary General Dr. Farouk Ibrahim, need to be part of this dialogue, along with representatives of the petroleum ministries of producing countries such as Algeria, Nigeria, Angola, Equatorial, Libya, Congo or Gabon and key National Oil Companies such as Sonatrach, GEPetrol, Gabon Oil, NNPC or Sonangol. The African private sector was not invited while we note the invitation and participation an international oil company. Given the importance of the oil & gas sector for several African economies, the Chamber questions the relevance of an energy debate that would exclude them from the conversation.

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How crypto is helping NGO with Covid-19 response - NaijaAgroNet

NaijaAgroNet:

Coronavirus cases are multiplying at alarming rates in South Africa, where NGOs estimate the population will require assistance for many months to come.

The Covid-19 pandemic has taken its toll on the world, causing almost half-a-million deaths, illnesses, and economic downturns. The World Bank argues that the deadly virus could push up to 60 million people into extreme poverty, wiping out the progress made in this area in the past three years.

In a recent report, the financial institution also said they believe that about a million people will drop back into extreme poverty in South Africa alone. In this Sub-Saharan country, where about a third of its 67.4 million inhabitants do not have access to essential sanitation services, the Covid-19 disease could have a particularly devastating effect.

The World Health Organisation (WHO) recently warned that because more than a third of Africa's population lacks access to adequate water supplies and nearly 60% of the urban population lives in overcrowded slums where the virus could thrive, the continent could be the next epicenter of the coronavirus outbreak.





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Tuesday, June 30, 2020

NaijaAgroNet: 

The impact of Coronavirus or COVID-19 on the food security and agriculture in Nigeria is already being felt, says PwC Nigeria, reports NaijaAgroNet.

PwC in its latest report available to 
NaijaAgroNet, noted that with COVID-19, the challenges hampering the attainment of food security in Nigeria could deepen.

“The impact is already being felt in the form of rising food prices,” part of the report stated.

Also, it said that as at April 2020, food inflation rose to 15 per cent compared to 14.7 per cent in December 2019.

“To ensure that the agricultural sector is not further impacted by the distortions caused by COVID-19, the government should ensure more palliatives are provided to farmers in the form of improved seedlings, basic farm implements at highly subsidized prices, and free or more affordable farm extension services.

PwC equally noted that of importance is the need to ensure that the sector is accorded more budgetary allocations in line with the Maputo declaration, increase the operational capacity of the strategic grain reserves, and reintroduction of farming clusters to be financed through Public Private Partnership (PPP) arrangement.

In addition, the report pointed out that state governments should reassess their area of core competence in the agriculture value chain and promote investment in that area.

Highlights of the report include challenges in the agriculture sector before COVID-19, policy measures for agribusiness, the impact of COVID-19 on Nigeria’s agricultural value chain, recommendations for improving agribusiness post COVID-19, and case studies for using innovation to boost agribusiness.


Isaac Oyimah/Editor

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Building purpose-driven businesses is key to economic empowerment


NaijaAgroNet:
Earlier this month and following the death of George Floyd, SoftBank announced a $100m investment fund for minority-owned businesses. 

The Opportunity Fund will invest only in companies led by people of color, and is the first such fund to be created in response to growing protests, in the US and worldwide, against racism and lack of equal opportunities for black people. While the initiative is not the first of its kind in the US or abroad (South Africa has several financial institutions dedicated to providing financial support to black entrepreneurs), its significance is much stronger now.

The US is in fact home to several financial institutions dedicated to supporting low- and moderate-income communities of color. However, as their relevance grows in the wake of the current crisis, their number has been steadily declining over the past years. One of the oldest such institution still in business today is the Unity National Bank. It is Texas’ only black-owned bank and an example of what purpose-driven businesses can accomplish for their communities and their country.

The Unity National Bank was established in the early 1960s and has since then supported the banking and capital needs of low- and moderate-income communities across Texas. While it used to operate in a banking industry with 47 African American-controlled banks in the early 2000s, the recession of 2008 took its toll on its peers. In 2019, the US had only 22 remaining black-owned banks.

Since 2005, the Unity National Bank is majority-owned by Nigeria-born oil executive Kase Lawal and his family. Kase Lawal is also Chairman of CAMAC International and seen as one of the few successful black entrepreneur in the energy sector, which remains an industry widely dominated by white men. He currently serves as Board Chairman of the Unity National Bank and, under his leadership, the bank has been able to weather the storm since 2008 and keep expanding. In 2018, it opened in Atlanta, its first expansion beyond the state of Texas, in order to consolidate and serve the African American community better.

Its lending program is focused on supporting and rebuilding its community, especially via commercial and mortgage loans. Unity National Bank has forged a network of partners and agents that are able to support the very core of its activities, from lending to supporting financial literacy across community.

While the bank, like other African American-owned banks, has struggled in recent years due to its smaller size and financial performances, its management is putting the foundations in place for the business to continue growing. It recently partnered with Citigroup and introduced a Paycheck Protection Program (PPP), which reportedly allowed the saving of 3,000 jobs. The PPP loans, acclaimed for their support to small black-owned businesses, even earned Unity National Bank a visit by Vice President Mike Pence this year.

“Kase Lawal is real, a legend. He is an improbable driver for black empowerment through entrepreneurship, even as most people never saw him coming and counted him out. I am not surprised that he will rise to the occasion, walk the walk and execute during these times when our communities are dealing with the scourge of Covid19 and difficult economic conditions,” stated NJ Ayuk Executive Chairman of the African Energy Chamber. “His humanity and humility lets him walk with the little guy and still keep his virtue. He may seat with Presidents and Ministers yet never loses the common touch or forgets where he came from. He is always thinking about the poor and the upward mobility of those who have not been dealt a fair hand by our economy,” added Mr Ayuk.

Now that the Covid-19 pandemic has taken its toll on American jobs and lives, and even more so for African American communities, and at a time when the world calls for better support to black entrepreneurs and businesses, the Kase Lawal-chaired institution is set to benefit. It remains one of the few institutions in the US with a true purpose of working with communities and linking their fate together to create a better future for African American families and gives countless of talented young women and men the means to build a successful future.

As the world seeks new ways to build equal societies, developing successful business models that promote equal opportunities and bring much-needed capital to talented communities is becoming the need of the hour. In doing so, looking at black-owned banks and businesses and learning from their experience would prove very beneficial. Beyond looking at pure business principles and balance sheets fundamentals, these companies are driven by a true social purpose which could well be the kind of basis the world needs to build fairer societies.

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Monday, June 29, 2020

HP committed to sustainable development, releases 2019 impact report - NaijaAgroNet

NaijaAgroNet:

HP Inc has reaffirmed its commitment to eliminating 75 per cent of single-use plastic packaging by 2025, reports NaijaAgroNet.

The company restated the commitment in its just-released 2019 Sustainable Impact Report, which also highlights the progress HP is making to drive diversity and inclusion, as well as strengthen communities globally.

“The HP culture has long been built on the belief that how we do things is just as important as what we do. Recent events have laid bare the systemic racism and deep inequalities that remain a stain on society, and it’s imperative for all companies to act with urgency on all fronts,” said Enrique Lores, HP President and CEO.

“It’s especially important for companies to hold themselves accountable and publicly report their progress,” Lores continued. “This year’s data shows that HP is making significant strides forward in many areas, while also revealing where we must do better. For example, the number of African American employees is below where it needs to be, and we are taking actions to improve. While we have a lot of hard work ahead, our values-driven culture that unites our teams and our partners gives me confidence in our ability to accelerate our progress and foster a more sustainable, equitable, and just society.”

As part of these commitments, HP announced a new goal to eliminate 75 percent of single-use plastic packaging by 2025, supporting the company’s efforts to drive a low-carbon, circular economy.

Efforts to make a sustainable impact on people, the planet and communities are integrated into HP’s business strategy and operations, and have become an increasingly important driver of customer purchasing decisions. HP’s Sustainable Impact efforts helped drive more than $1.6 billion in sales wins in 2019, up an estimated 69 percent, reflecting the growing business imperative for companies to lead with purpose.

The goal focuses on hardware unit packaging and is predicated on a move to moulded fibre packaging cushions. HP’s environmental packaging strategy aims to eliminate unnecessary plastics and materials of concerns wherever possible.

For instance, in 2019, HP decided to eliminate power cord plastic ties and plastic document bags in hardware packaging. HP also has shifted to more recyclable, paper-based alternatives. To accelerate this shift, the company is transitioning from plastic foam packaging cushions to those made with 100 per cent recycled, moulded pulp for HP’s notebooks, desktops and displays. The transition to moulded fibre Personal Systems packaging cushions eliminated 933 tonnes of hard-to-recycle expanded plastic foam last year.

In Printing, HP reduced plastic foam by 40 per cent and eliminated over 95 tonnes of the material in 2019 just by redesigning the packaging of a printer model.

Launched in 2019, the HP Tango Terra is HP’s first printer with zero plastic packagings, using a combination of moulded fibre cushions and glassine paper to replace the typical plastic foam and bag.

In 3D printing, HP recently announced the availability of a new material called polypropylene (PP), that helps reduce waste by enabling up to 100 per cent reusability of surplus powder.

HP has also sourced more than 60 million bottles of ocean-bound plastic and launched the world’s first notebook, display, mobile workstation and enterprise Chromebook made using ocean-bound plastics.

With 111 Gold and 268 Silver EPEAT-registered products – more than any other company in the IT industry, HP has the world’s most sustainable PC portfolio.

Aside from the environment, HP has also committed to diversity and inclusion at all levels of the company while fighting racial inequality, announcing a new goal to double the number of Black and African American executives inside the company by 2025.

The Company’s Board of Directors continues to be the most diverse of any U.S. technology company, comprised of 42 per cent women and 58 per cent minorities. In 2019, 63 per cent of U.S. hires were from underrepresented groups, including women, U.S. ethnicities, veterans, and persons with disabilities.

Globally, 40 per cent of HP hires in 2019 were women, and the company’s Global Supplier Diversity program spent $374 million with small and diverse suppliers including minority- and women-owned businesses, contributing $698 million in overall economic impact.

Earlier this year, HP re-committed to the CEO Action for Diversity and Inclusion, the largest CEO-driven business commitment to advance diversity and inclusion in the workplace. The HP Foundation pledged $500,000 to social justice organizations to confront and combat systemic racism and inequality in society.

HP is also leveraging its platforms to shine a spotlight on these issues globally, and is partnering with Girl Rising, a global non-profit dedicated to eradicating poverty by providing education to women and girls, to launch ‘My Story: The 2020 Storytelling Challenge.’

The challenge will bring to life examples of young leaders fighting for human rights, racial justice, gender equity and the advancement of education for girls.

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Friday, June 26, 2020

Investment in renewable energy highly attractive - NaijaAgroNet

NaijaAgroNet:
The renewable power has been described highly attractive just as its increasingly cheaper than any new electricity capacity based on fossil fuels, a new report by the International Renewable Energy Agency (IRENA) published reveals, reports NaijaAgroNet.

The report, Renewable Power Generation Costs in 2019
NaijaAgroNet gathered, showed that more than half of the renewable capacity added in 2019 achieved lower power costs than the cheapest new coal plants.

The report highlights that new renewable power generation projects now increasingly undercut existing coal-fired plants. On average, new solar photovoltaic (PV) and onshore wind power cost less than keeping many existing coal plants in operation, and auction results show this trend accelerating – reinforcing the case to phase-out coal entirely. Next year, up to 1 200 gigawatts (GW) of existing coal capacity could cost more to operate than the cost of new utility-scale solar PV, the report shows.

Replacing the costliest 500 GW of coal with solar PV and onshore wind next year would cut power system costs by up to USD 23 billion every year and reduce annual emissions by around 1.8 gigatons (Gt) of carbon dioxide (CO2), equivalent to 5% of total global CO2 emissions in 2019. It would also yield an investment stimulus of USD 940 billion, which is equal to around 1% of global GDP.

“We have reached an important turning point in the energy transition. The case for new and much of the existing coal power generation, is both environmentally and economically unjustifiable,” said Francesco La Camera, Director-General of IRENA. “Renewable energy is increasingly the cheapest source of new electricity, offering tremendous potential to stimulate the global economy and get people back to work. Renewable investments are stable, cost-effective and attractive offering consistent and predictable returns while delivering benefits to the wider economy.

“A global recovery strategy must be a green strategy,” La Camera added. “Renewables offer a way to align short-term policy action with medium- and long-term energy and climate goals. Renewables must be the backbone of national efforts to restart economies in the wake of the COVID-19 outbreak. With the right policies in place, falling renewable power costs, can shift markets and contribute greatly towards a green recovery.”

Renewable electricity costs have fallen sharply over the past decade, driven by improving technologies, economies of scale, increasingly competitive supply chains and growing developer experience. Since 2010, utility-scale solar PV power has shown the sharpest cost decline at 82%, followed by concentrating solar power (CSP) at 47%, onshore wind at 39% and offshore wind at 29%.

Costs for solar and wind power technologies also continued to fall year-on-year. Electricity costs from utility-scale solar PV fell 13% in 2019, reaching a global average of 6.8 cents (USD 0.068) per kilowatt-hour (kWh). Onshore and offshore wind both declined about 9%, reaching USD 0.053/kWh and USD 0.115/kWh, respectively.

Isaac Oyimah/Editor


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Thursday, June 25, 2020

Propertymart boosts affordable housing, allocates plots @Fairmont Hilltop Estate - NaijaAgroNet

NaijaAgroNet:

Propertymart Real Estate Investment Limited has intensified its effort to provide affordable housing to Nigerians with the allocation of plots of land to subscribers at Scheme Two of its Fairmont Hilltop Estate, Alagbado, Lagos.

Subscribers to the residential scheme, an affordable housing initiative, were full of commendations for the Company as they took possession of their plots at the weekend.

The subscribers, who praised both the scenic hilltop estate and infrastructure already provided by the Company, also hailed the speedy and transparent allocation process.

One of the allottees, Gibson Eze, praised the company, saying “I’m impressed with Propertymart. I like their customer service in particular and I will be recommending this Estate to others because my experience so far has been excellent. Every one of their activities is documented, and since it’s documented, it gives you the room to have trust. Once there is documentation, trust can easily flow.”

Another allottee, Biodun Koleosho, also praised Propertymart for the excellent layout of the Estate and not using the COVID-19 lockdown to delay allocation of plots.

He said, “They have done an excellent job of following up, keeping to their word and that is being able to deliver plots to customers. In terms of documentation, despite the COVID-19 lockdown, they got in touch with me and sent me an e-copy of the contract pending when I could come to the office and sign the hard copy. So, despite the challenges of COVID-19, they are still able to deliver as promised.”

An elated Mrs Abiola Oni also said, “I like the speedy nature of the sale and documentation process. We paid around early February, and here we are in June with our plot. The environment is nice and cool. I am impressed with Propertymart.”

Mrs Lynda Esohe Ugbesi, who stood in for her brother, Lucky Anthony, couldn’t contain her excitement with the serene Estate. She explained that “The environment is conducive and accessible. The terrain is excellent. I can see flooding won’t be an issue. The allocation process is transparent. I’m happy with the way everything has been done. I was even asking if they have more plots available so that I can tell others about the Estate.”

While commending the beautiful location, another allottee, Timothy Oyeniyi, said he had been on the lookout for a beautiful estate to invest in and that Fairmont Hilltop fit the bill perfectly.

He said, “It is secure from the hustle and bustle of the main Ota; it is close to Lagos. You can jump in and out without having to go through the potholes that many people experience in Ota. It’s a serene environment. That’s what I like about the location itself. And the fact that it’s a border town between Ogun and Lagos States.”

Speaking about the Estate and Propertymart’s resolve to provide affordable housing to Nigerians, General Manager, Sales and Marketing, Propertymart, Oluwasegun Damiro said it is committed to helping Nigerians own their homes in a safe and secure environment and at pocket-friendly prices.

He said, “we are for the grassroots and what we want to sell to people, particularly first-time homeowners, is affordability. Inside this Estate, we have some two-bedroom bungalows that we are constructing for people who won’t have time to build and want to save themselves the hassles of buying land and clearing. This is apart from the common land grabbers issue.”

Damiro added that though plots in Schemes One and Two in the Estate have been fully taken, prospective homeowners can take up the exciting promo offers in Scheme Three which run till the end of June.

“Ordinarily, our plot size is 500 Sqm, but we have 400 Sqm, 324 Sqm and 240 Sqm so that you could pay as low as N5 million. It’s all to encourage people. The promo price for 500sqm in Scheme Three is N7.8 million. That’s a discount of about N2 million from what you have in Schemes One and Two,” he said.

Damiro further added that Propertymart, which has been in the real estate business for over 12 years doesn’t just sell land, but a lifestyle to its customer.

He said, “We have allocated over 6,000 homes and serviced plots since inception and we are glad that our customers have faith in us. We don’t just sell land. What we sell is a lifestyle. Before people move in, infrastructure is ready. Street light, roads, electrification, which means that even before you start building, you have a planned Estate where you can start dreaming of where to keep a home—your children, where they are going to play. Where you can get your groceries. What we sell every day is a lifestyle, not just the normal Omo Onile.”

Fairmont Hilltop Estate, Alagbado, is part of the ‘The Fairmont’ serviced plots strategically located in Arepo and Lekki-Ajah. They are not only affordable but also allow clients to live in safe, beautiful environments with well-defined perimeters.

Isaac Oyimah/Editor


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Pix: Head, Marketing Services, Palton Morgan Holdings, Oluwaseyi Otulana (left), and an allottee, Bosede Otusanya, at the physical allocation of plots of land to subscribers of Fairmont Hilltop Estate, Alagbado, Lagos, recently.

Stantec, AfDB to host webinar on climate change, green investment - NaijaAgroNet

NaijaAgroNet:

A webinar to be hosted by Stantec and African Development Bank (AfDB) on building the momentum to enhance private sector participation in climate change and green investment in Africa, has got a date, reports 
NaijaAgroNet.


The workshop, 
NaijaAgroNet gathered, would present key findings on opportunities and challenges in climate change investment, in alignment with Nationally Determined Contributions (NDCs) in Africa.

The Consultation workshop, 
NaijaAgroNet also gathered would showcase options for private sector investments in climate change, and has been slated for Thursday, June 25, 2020 by 1pm GMT.

The Climate Change and Green Growth Department of the African Development Bank (www.AfDB.org), with the global infrastructure firm, Stantec, will host a consultation workshop on enhancing private sector participation in climate change and green investment in Africa on Thursday, 25 June 2020 from 1:00 pm to 3:30 pm (Abidjan time).

The key findings expected would specifically come from the six pilot countries: Egypt, Morocco, Angola, Mozambique, Nigeria and South Africa.

Since 2015, 54 African countries have signed the Paris Agreement on climate change while at least 44 of them have submitted their NDCs, committing to keeping global warming below 2°C. In Africa, it is estimated that the implementation of NDCs will cost about $3 trillion by 2030. All projections indicate that about 75% of this cost will come from the private sector.

The participation of the private sector in climate action in Africa needs to be supported and guided towards opportunities for green investments on the continent. The workshop will emphasize priority options and models to support NDCs-aligned private sector investments by presenting scoping studies in the six pilot countries and elsewhere on the African continent.

Anthony Nyong, Director for Climate Change and Green Growth, and Al-Hamndou Dorsouma, Manager of the Climate Change and Green Growth Division, will open the session. The meeting will gather the Bank’s country managers, key stakeholders from the private sector, public body representatives, and academics to build the momentum to scale up climate finance on the continent.

Ayo Midele/Editor

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