The African Development Bank has announced its participation in the 2024 Climate Action Africa Forum (CAAF24) Deal Room from the 19 -20 June, 2024 at the Landmark Event Centre, Lagos, Nigeria to contribute to the acceleration of sustainable solutions.
Other supporters included; the Nigeria Sovereign Investment Authority, The Catalyst Fund and the Africa Enterprise Challenge Fund.
In a statement released on the bank’s website, the CAAF24 Deal Room is an innovative platform connecting high-impact climate innovators in Africa with potential investors committed to accelerating sustainable solutions. Eligible climate-tech businesses focused on emission reduction, energy, agriculture, transportation, circular economy, and building and construction can apply.
It added that AfDB’s participation reflects its commitment to boosting investments in Africa’s green economy by galvanizing a community of innovators, entrepreneurs, and investors to create applicable solutions to mitigate the challenges of climate change on the African continent.
According to Grace Oluchi Mbah, Executive Director of Climate Action Africa, with the African Development Bank’s presence, the CAAF24 Deal Room, aimed to bridge the critical gap between promising climate ventures and the essential resources they need to thrive.
She said: “By facilitating connections between passionate entrepreneurs and dedicated investors, including the strategic involvement of the Bank, we can collectively unlock the immense potential of climate solutions in Africa.”
Meanwhile, the CAAF24 Deal Room would conclude with a post-event accelerator in partnership with the Silicon Valley-based Founder Institute and IDEA Africa.
This initiative is designed to further accelerate and enhance support for promising climate tech startups and founders participating in the Deal Room.