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AfDB Board Approves $20Mn For SSA’s Renewable Energy Projects

The Board of Directors of the African Development Bank (AfDB) Group has approved an equity investment of $20 million in Evolution Fund III, a pan-African clean and sustainable energy private equity fund that is mobilising about $400 million into renewable energy and resource-efficiency assets across sub-Saharan Africa over a 10-year period. Inspired Evolution Investment Management […]

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ILO Launches Initiatives On ‘Green Jobs’ For Nigerian, Others’ Youths

The International Labour Organization (ILO) has launched the first Green Jobs for Youth Pact at the Climate Change Conference (COP27) in Sharm el-Sheikh, Egypt, as part of its work to promote a Just Transition to a more sustainable and greener future. The labour organization stated that the Youth Pact, a partnership with UN and other […]

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UK Supports Africa With £200Mn For Climate Adaptation

The United Kingdom has announced an increase in its financial support to the poorest African countries that bear the brunt of climate change. Speaking at COP27 in Sharm El Sheikh, Egypt, on the funding support, British Foreign Secretary, James Cleverly, confirmed the UK will provide £200 million to the African Development Bank Group’s (AfDB’s) Climate […]

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We Have Built 3,526 Housing Units Through PPP – Sanwo-Olu

Lagos State Governor, Babajide Sanwo-Olu, on Thursday disclosed that his administration had inaugurated more than 15 housing projects and 3,526 housing units since he assumed office in 2019. Sanwo-Olu, who gave these figures at the 2nd Stakeholders’ Summit of the Real Estate Developers Association of Nigeria (REDAN), Lagos State Chapter, held in Lagos said that […]

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Africa Requires $2.6Trn To Tackle Energy Poverty

A new report by PriceWaterhouseCoopers (PwC), a global accountancy and auditing consulting firm, has estimated that Africa will require about $2.6 trillion to drive energy transition and bridge its widening energy gap over the next 30 years. The firm, in its latest ‘Africa Energy Review 2022’, indicated that the continent was not likely to achieve […]

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Analysts Rate FCMB Group High On Clean Energy Investments

Proshare Limited, one of Nigeria’s leading investment consulting firms, has described the sustained investments by FCMB Group in renewable energy as vital to the current drive by the Federal Government to achieve net zero carbon emissions in the country by year 2060. In a Note issued on Monday, the firm’s analysts noted that the group […]

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Africa Loses 15% Of GDP To Climate Change – AfDB Chief

The African Development Bank’s (AfDB’s) Acting Chief Economist and Vice President, Prof. Kevin Urama, has said that Africa is losing between five percent to 15 percent of its Gross Domestic Product (GDP) per capita growth to climate change and its negative impacts on the countries in the continent. Urama, was quoted in a statement posted […]

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World Bank Supports Countries With $31.7Bn For Climate Change

The World Bank Group has disclosed that it committed the sum of $31.7 billion this financial year (FY2022) to help countries address climate change challenges. The Washington D.C-based multilateral finance institution in a statement hoisted on its website on Thursday indicated that the amount represented a 19 percent increase over the $26.6 billion financing by […]

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EIB President Supports Africa’s Climate Adaptation Projects

European Investment Bank (EIB) has expressed its readiness to collaborate with African governments on accelerating climate adaptation in the continent. The EIB President, Werner Hoyer, made the promise at the Africa Adaptation Summit, the first-ever global summit to focus solely on accelerating climate adaptation in Africa organized by the Global Center on Adaptation (GCA), in […]

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Africa Needs $127Bn Yearly For Climate Change Financing Gap – Adesina

The President of African Development Bank Group (AfDB), Dr. Akinwumi Adesina, has projected that Africa would require between $100 billion to $127 billion yearly between now and  year 2030 to bridge climate change financing gap in the continent. The AfDB President, who gave these figures on Monday in his paper delivered at the Africa Climate […]