Channelling climate finance in Africa to where it’s needed most

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Besides a lack of climate finance at a global scale, far too little — about 3% — of this already limited finance flows to Africa

ensure that tight feedback loops occur during monitoring and evaluation of projects so that changes in climate change impacts, as well as socio

economic and geopolitical conditions, are responded to timeously, and that constant learning leads to responsive and efficient project deployment. The role of DFIs goes beyond financing projects that are unfeasible for commercial lenders — these institutions also shape development and bolster human and social development. In 2020, DFIs financed projects with a total cost more than . A DFI that has for decades proven to be a leader in both respects is the Developmental Bank of Southern Africa . In the last few years the DBSA has mobilised a total commitment of R3.

Africa’s wondrous natural resources are, once again, being eyed by the developed world, this time for clean energy. Africa is said to possess a technical wind potential of almost , enough to satisfy the entire continent’s electricity demands 250 times over. Furthermore, our youthful and vibrant population is being raised navigating complex environments, similar to those that define transitions.

The world will dock on Egypt’s shore for an African COP later in 2022. The continent should not go hat in hand, but rather position itself as holding many of the potential solutions to the globe’s energy and climate change crises. Tangible examples of African-based good practice by organisations such as the DBSA and initiatives such as CoM SSA provide hope and show what is possible when visionary leadership aligns with portholes of opportunity.

 

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