Africa contributes least to global pollution but is impacted the most. The need for sustainable finance is therefore critical and immediate for African countries as they battle the scourge of climate change and meeting foundational development needs.
Early green shots can be seen in innovative financing mechanisms that have been developed in availing clean solar energy to rural households in Kenya, Uganda and Tanzania (M-Kopa) and government mobilising micro-amounts to fund development in Kenya (M-Akiba). African banks are also committing to global sustainable finance initiatives. But much more is required to scale up sustainable financing in Africa.
Read more: The Star