CAPE TOWN, 19 February 2024: Thought leaders, policy makers and investors with an interest in Africa’s green economy transition are gathering in Cape Town ahead of this week’s Africa’s Green Economy Summit, taking place in the city from 21-23 February 2024.
The summit, now in its second year, is centred around connecting the global investment community with investment prospects in Africa to unlock opportunities within green economy and drive a sustainable, prosperous future for the continent.
This is underlined by the extensive African participation, with representation from key regions and role-players across a variety of sectors and the participation of the African Union Commission (AUC). The continental body will be joining the “Scaling Up Green Investments to Address Climate Change” roundtable as part of the Green Recovery Action Plan (GRAP) programme.
Speakers include:
• H.E. Ambassador Josefa Sacko, Commissioner for Agriculture, Rural Development, Blue Economy, and Sustainable Environment (ARBE), African Union Commission (AUC), Ethiopia
• Hon. Jacques Assahoré Konan, Minister for the Environment, Sustainable Development and Ecological Transition, Côte d’Ivoire
• Hon. Mr. Collins Nzovu, Minister of Green Economy and Environment, Zambia
• Junaid Ahmad, Vice President of Operations, Multilateral Investment Guarantee Agency (MIGA), World Bank
• Carl Roothman, CEO, Sanlam Investment Group, South Africa
Cape Town mayor Geordin Hill-Lewis will make the keynote address on Thursday 22 February and joins a fireside chat to explore ground-breaking urban development strategies to foster inclusive economic hubs.
Speaking to the publication Afrik21 about the message he’ll be sending to investors and political decision-makers at the summit, Hill-Lewis said that he’d be emphasising Cape Town’s role as a leading destination for green-economy investments.
“The City of Cape Town is the best place on the African continent to make your green economy investments. We have a range of services dedicated to investors and ease of doing business initiatives,” he said.
Hill-Lewis also emphasised the role of co-operation between cities in terms of building strategies for climate resilience.
“It is important to support municipalities and cities like Cape Town in their ongoing efforts to mitigate and adapt to climate change. Conservation and protection of biodiversity and ecosystem services are critical. Ongoing funding and partnerships in the global south would greatly assist to mitigate/ameliorate natural disasters.”
A key aspect of the summit is the pitch platform, which will give project owners the opportunity to showcase their businesses to global and local investors and corporate representatives, build key relationships and secure funding.
More than 30 projects will take to the Pitch Stage, presenting an investment pipeline of more than $1 billion to 30 investment and financial companies. Potential investors at the event will be able to get a comprehensive overview of some of Africa’s green champions, take discussions further with pitch owners and download pitch decks.
According to Iain Banner, the chairman of Cape Town E-Prix race promoter e-Movement, the pitch process holds huge potential benefit for the African economy.
“What I am most excited by is that we are ultimately outcomes based. Over 30 serious investors will be exposed to some 30 pitches for more than $1 billion of funding demand,” he said.
“Just imagine if 20% of that pipeline gets funded. That would be $200 million going into the African economy, off the back of Africa’s Green Economy Summit. Even if only 5% of the pipeline gets funded (by value), it is a R1 billion outcome.”
Africa’s Green Economy Summit consists of a two-day summit and connecting platform, a pitch programme and a project and innovation showcase, as well as an experiential day. It offers a showcase of investable African projects, access to investors, interaction with governmental and city officials, and the opportunity to obtain a deeper understanding of Africa’s green-economy landscape, its challenges, and opportunities.
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Author: Bridget Pringle from Brooke Buckland on behalf of Vuka.
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