Kola Adesina details annual climate finance gap for Africa at UNGA
- Reports
- 2
- Developments
- 1
- Repetition
- 50%
New informationRepeats or wire copies
What happened
Kola Adesina, Group Managing Director of Sahara Power Enterprise Group, presented findings on Sub-Saharan Africa at a United Nations General Assembly roundtable on Sustainable Global Investment. Adesina stated that Africa requires approximately $277 billion annually to meet its climate commitments, but currently attracts only about $30 billion in climate finance. He noted that this funding gap is capable of undermining the continent’s development and resilience.
From thesun.ng
Why it matters
The findings highlighted that Sub-Saharan Africa faces a broader infrastructure deficit, with nearly 600 million people still lacking access to electricity. The annual infrastructure financing gap in the region is estimated to be between $68 billion and $108 billion. Adesina argued that sustained investment in energy, infrastructure, industry, and agriculture is critical for African economies to expand productive capacity.
From thesun.ng
Who's involved
- Kola AdesinaNigerian entrepreneur who presented findings on continental finance needs.
- sub-Saharan AfricaArea of Africa facing significant infrastructure and energy deficits.
- AfricaContinent facing the need for massive annual climate and infrastructure investment.
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
- AfricaSpeculative
The continent might face increased pressure on its infrastructure and energy sectors due to underinvestment.
Keep exploring
The entities involved
-
Africa
continent
-
sub-Saharan Africa
area of the continent of Africa that lies south of the Sahara Desert
- Chevron is expanding its oil and gas exploration footprint across Sub-Saharan Africa, with new activity in Angola, Nigeria, Equatorial Guinea, and Namibia.
- NoorNation, a solar irrigation provider, expanded into Sub-Saharan Africa after operating in Egypt, attracting investment from KBW Ventures and Linah Farms.
-
Kola Adesina
Nigerian entrepreneur
Nothing else this week.
Related events
- An Oceans conference was held in Kenya regarding Africa's oceans, while a separate UN summit took place in Yerevan.
- The Nigerian Army promotes dialogue and collaboration among African armies within the continent of Africa.
- African Union operates in Africa.
- African institutions, including the Pan-African Parliament and African Union, are calling for continental unity and greater representation in the UNSC.
- Uganda and Africa are advocating for comprehensive reform and greater representation within the UN Security Council.