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Africa offers opportunities for green growth in post-COVID-19 recovery

Africa offers opportunities for green growth in post-COVID-19 recovery

Africa’s recovery pathway offers enormous opportunities, African Development Bank (AfDB) head said at the European Union-Africa Green Investment Forum.

AfDB President Dr Akinwumi Adesina reminded global audiences of the continent’s vast opportunities for green growth at the recent European Union-Africa Green Investment Forum.

“Africa is a huge market offering incredible opportunities. The recovery pathway offers enormous opportunities. Recovery must be green and build climate resilience. Recovery must boost green investments,” Adesina said in the keynote address.

Adesina identified energy, agriculture and infrastructure as key areas of investment potential for a post-COVID-19 recovery in Africa. With abundant solar, wind, hydro and geothermal energy resources, Africa’s energy transition alone presents a $100 billion per year investment opportunity, he said.

Agriculture potentially offers massive investments in climate-smart crops to build more resilient food systems. And, climate-resilient infrastructure offers investment potential of between $130 billion and $170 billion, Adesina said.

African Union Commissioner Josefa Sako called for a just transition that recognised the historical responsibility of the developed world for climate change. She warned that measures taken should not push vulnerable populations into greater poverty. “We need to bring everyone on board,” said Sako.

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