By Chinenye Anuforo

The African Development Bank (AfDB) has joined a consortium of organizations supporting the Climate Action Africa Forum (CAAF24) Deal Room, scheduled for June 19-20, 2024, at the Landmark Event Centre in Lagos, Nigeria.

The Nigeria Sovereign Investment Authority, The Catalyst Fund, and the Africa Enterprise Challenge Fund also lend their backing to this important event.

The CAAF24 Deal Room serves as a critical platform connecting Africa’s climate innovators with investors dedicated to fostering sustainable solutions. Climate-focused businesses working on solutions in emissions reduction, energy, agriculture, transportation, circular economy, and building and construction are encouraged to apply.

“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,” said Sonia Borrini, Communication and Knowledge Management Specialist at the African Development Bank.

The AfDB’s participation underscores its commitment to bolstering investments in Africa’s green economy. The Bank aims to galvanize a community of innovators, entrepreneurs, and investors to develop practical solutions to mitigate the challenges of climate change on the continent.

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Companies meeting the following criteria are eligible to participate in the CAAF24 Deal Room:

African-owned and operating in any of Africa’s 54 nations.
For-profit businesses between 1-5 years post-incorporation, with a minimum viable product and having launched in the market.

Companies that leverage digital technology in their business model.
Female-owned businesses are considered an added advantage.

“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,” said Grace Oluchi Mbah, Executive Director of Climate Action Africa.

The CAAF24 Deal Room will culminate in a post-event accelerator program offered 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.

The African Development Bank’s unwavering commitment to supporting climate action initiatives in Africa and its belief in the potential of the CAAF24 Deal Room to drive sustainable solutions remain steadfast.

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