By Modupe Gbadeyanka
The Deal Room of the forthcoming 2024 Climate Action Africa Forum (CAAF24) slated for next month in Lagos received a significant boost.
This is because the African Development Bank (AfDB) has promised to support the event taking place precisely from June 19 to 20, 2024, at the Landmark Event Centre in Lagos, Nigeria.
The CAAF24 Deal Room is a platform connecting climate innovators in Africa with investors interested in supporting sustainable solutions.
Climate-tech businesses focused on reducing emissions, energy, agriculture, transportation, circular economy, and building and construction have been encouraged to apply.
Apart from the multinational lender, other organisations that have pledged support for the programme included the Nigeria Sovereign Investment Authority (NSIA), The Catalyst Fund, and the Africa Enterprise Challenge Fund.
The participation of AfDB reflects its commitment to boosting investments in Africa’s green economy, which aims to galvanise a community of innovators, entrepreneurs, and investors to create applicable solutions to mitigate the challenges of climate change on the African continent.
“Through the CAAF24 Deal Room, and with the African Development Bank’s presence, we aim to bridge the critical gap between promising climate ventures and the essential resources they need to thrive,” the Executive Director of Climate Action Africa, Ms Grace Oluchi Mbah, stated.
“By facilitating connections between passionate entrepreneurs and dedicated investors, including the bank’s strategic involvement, we can collectively unlock the immense potential of climate solutions in Africa,” the Communication and Knowledge Management Specialist at AfDB, Sonia Borrini, commented.
The CAAF24 Deal Room will conclude with a post-event accelerator program in partnership with the Silicon Valley-based Founder Institute and IDEA Africa. This program is designed to further accelerate and enhance support for promising climate tech startups and founders.
Those qualified to partake in it are African-owned companies operating in any of the 54 African countries; for-profit companies between 1-5 years post-incorporation, post-minimum viable product and post-go-to-market; and companies that leverage digital technology in their business model.