U.S. Vice President Kamala Harris announced $7 billion in both private sector and government financing across 27 programs to promote climate resilience and mitigation across Africa. The announcement was made in Zambia as part of Harris’ week-long Africa tour aimed at strengthening U.S.-Africa relations, particularly across the climate, energy transition and financing sectors. The funding aims to improve access to climate information services, enhance resilience and adaption while advancing the continent’s energy transition through the provision of capital and knowledge sharing.
In addition to energy-related goals, the funding is aimed at strengthening Africa’s ability to address key challenges associated with climate change including food security through the promotion of climate-smart agriculture.
On the energy front, the private sector commitments aim to spur sustainability, clean energy development and the advancement of clean transportation.
Programs include commitments by African Parks to raise an additional $1.25 billion in Africa over the next seven years; Cambridge Industries to raise $950 million to decarbonize waste management in Kinshasa; ABD Group to finance and operate a $800 million electrification project in Tanzania; Combustion Associates to raise $600 million to reduce vented greenhouse gas emissions in Nigeria; SAGLEV to raise $600 million in electric vehicle assembly plants in Ghana; the Emissions Capture Company to raise $550 million to reduce emissions and plastic waste from Nestlé sites in Africa; and the Africa Finance Corporation to invest and mobilize $510 million for the initial $750 million of a $2 billion Infrastructure Climate Resilience Fund.
Additionally, CrossBoundary Energy has committed $500 million to support clean energy solutions for African businesses; Wilderness is expected to deploy over $500 million in operational investments as part of a partnership signed with the Zambian government; C1 Ventures has committed $50 million for biomanufacturing; Coalition for Climate Entrepreneurship has committed over $200 million to support emerging sustainability entrepreneurs; Roam will invest $150 million to scale up electric motorcycles and public transport solutions; Vista Bank Group has committed $100 million towards sustainability initiatives; World Economic Forum has announced a $18.2 million investment; while Transvolt Energy Systems will raise $10 million for a lithium battery plant.
On the climate-smart agriculture front, investment and climate mitigation commitments have been made by companies including Pula; Mastercard; SunCulture; One Acre Fund; Touton SA; AlphaTalentsAfrica; AgDevCo; Switch Bioworks; Afrinfo Company Limited; Corteva; Land O’Lakes Venture 37; and McCormick.
Meanwhile, U.S. Government commitments include financial and technical support through expanding access to climate information services and enhancing climate resilience and adaption. This will be achieved through programs such as the GEOGlows Streamflow Forecasting Service; by expanding weather station networks in Africa; the YouthMappers program; and the extension of the Famine Early Warning Systems Network. Additionally, the government has committed up to $1.5 million in grant funding for off-grid solutions while it expects to advance support through a U.S.-Africa Climate Innovation Week.