24 September 2024, NDC Awards Media
New York, Addis Ababa, Dubai, Johannesburg, Nairobi, Lagos, Washington, Brussels, Beijing – Africa Investor (Ai) Group, the continent’s leading institutional investment platform, announced today the successful conclusion of the African NDC Institutional Investment Summit and Awards, held in association with the Sustainable Markets Initiative (SMI) Africa Council. Under the theme “Aligning Private Capital Mobilization at Scale with Africa’s NDCs, the Nairobi Declaration, and the Sustainable Development Goals (SDGs),” the event concluded on a high note.
The Summit was hosted by the CFA Society New York Asset Owners Council in collaboration with key partners, including the Economic Commission for Africa (ECA), the African Union Development Agency (AUDA) Continental Business Network, the SMI Africa Council, the NDC Partnership, and the African Green Infrastructure Investment Bank (AfGIIB). It brought together African and global leaders to discuss strategies for scaling up private capital to support Africa’s Nationally Determined Contributions (NDCs) and green development projects.
At the 37th African Union (AU) Heads of State Summit, African leaders highlighted the urgency of mobilizing private capital to finance Africa’s $3 trillion in climate and sustainable development projects by 2030. The leaders recognized that concessional loans from Multilateral Development Banks (MDBs) would address only 10% of the continent’s private financing gap. The Heads of State reaffirmed their commitment to collaborating with the global institutional investment community to achieve the objectives of the Nairobi Declaration.
In response to this call, the SMI Africa Council (SMIAC), in partnership with Africa Investor, launched an initiative to position African green industrial infrastructure and nature as globally competitive investable asset classes. This initiative aims to mobilize private and philanthropic capital, create investable development opportunities, co-create bankable NDC investment programs, and achieve the Nairobi Declaration’s goals through Institutional Investor-Public Partnerships (IIPPs) and blended investments.
The Summit convened leaders from across Africa and around the globe, representing over $50 trillion in assets under management and advisement. Discussions focused on private capital mobilization strategies, IIPP opportunities, and showcasing Africa’s potential as a significant player in the $10 trillion per annum global green industrial economy, all while achieving risk and climate-adjusted returns for public, private, and philanthropic investors.
The Summit also showcased the work of the SMI Africa Council’s Investable Asset Classes Working Group, which has been instrumental in positioning African green industrial infrastructure as a globally competitive investable asset class and co-creating bankable NDC projects. These initiatives will help accelerate the Nairobi Declaration’s private capital mobilization targets and support global decarbonization efforts through IIPPs and blended investment solutions.
Commenting on the Summit and Awards, Dr. Hubert Danso, Chairman of Africa Investor (Ai) and Chair of the NDC Investment Awards Adjudication panel, said: “Africa’s NDCs are at a pivotal moment as countries prepare their five-year updates, due in February 2025.
This summit presented a powerful opportunity for governments, institutional investors, and philanthropies to come together and form impactful institutional investor-public partnerships. By making African NDCs investable, we can mobilize private capital at the speed and scale required to unlock the continent’s $3-7 trillion NDC investment opportunities and transform Africa’s green industrial future.
We extend our heartfelt congratulations to all the nominees and winners of the African NDC Investment Awards. Your projects are a beacon of hope and action, demonstrating what is possible when ambition meets commitment, inspiring us all to raise ambition and accelerate our efforts in building a sustainable Africa and a thriving world for the benefit of people, planet, and nature.”
The Summit culminated in the African NDC Investment Awards, which recognize the achievements of governments, institutions, and individuals advancing investment readiness for Africa’s NDC projects, which require over $3 trillion in investment by 2030. Now in their third year, these awards were initially launched at the Commonwealth Heads of Government Meeting in Kigali in 2022 and have since gained prominence, with awards presented at COP27 in Egypt and COP28 in Dubai.
The 2024 African NDC Investment Awards honored several distinguished leaders:
Presidential Green Industrialization Investment Statesman of the Year
- H.E. Dr. William Samoei Ruto, President of the Republic of Kenya
Presidential Green Infrastructure Investment Statesman of the Year
- H.E. Mohamed Ould Ghazouani, President of the Islamic Republic of Mauritania
Presidential Just Transition Investment Statesman of the Year
- H.E. Bola Tinubu, President of the Federal Republic of Nigeria
Presidential Carbon Investment Initiative Statesman of the Year
- H.E. Denis Sassou Nguesso, President of the Republic of the Congo
Presidential Transport Investment Statesman of the Year
- H.E. Joao Lourenco, President of the Republic of Angola
Presidential Water Investment Statesman of the Year
- H.E. Prithvirajsing Roopun, President of the Republic of Mauritius
Presidential Agriculture Investment Statesman of the Year
- H.E. Samia Suluhu Hassan, President of the Republic of Tanzania
Presidential Energy Investment Statesman of the Year
- H.E. Julius Maada Bio, President of the Republic of Sierra Leone
The Awards also recognized outstanding NDC projects and initiatives, with winners in the following categories:
- Best Waste NDC Investment Initiative of the Year: Cape Town Waste Management Strategy, City of Cape Town’s Directorate of Urban Management
- Best Energy NDC Investment of the Year: Microsoft and G42 AI Kenya Renewables Investment Programme
- Best Transport NDC Investment Initiative of the Year: The Lobito Corridor Investment Promotion Authority
- Best Forestry NDC Investment Initiative of the Year: Republic of Congo Forest Management Program, Ministry of Forest Economy of the Republic of Congo
- Best Financeable NDC City Investment Initiative of the Year: Casablanca Urban Green Spaces Project, Casablanca Urban Agency
- Best GreenTech NDC Investment Initiative of the Year: M-KOPA Solar, International Finance Corporation (IFC)
- Best Agriculture NDC Investment Initiative of the Year: Low Carbon Transformation of the Rwandan Tea Processing Sector, Green Climate Fund (GCF)
- Best Health NDC Investment Initiative of the Year: Nigerian Climate-Resilient Health Initiative, World Health Organization (WHO)
- Best Water NDC Investment Initiative of the Year: Resilient Water Accelerator (RWA)
- Best Investable NDC Adaptation Investment Initiative of the Year: The Africa Adaptation Acceleration Program, Global Center on Adaptation and the African Development Bank Group
- Best Bankable Donor NDC Investment Initiative of the Year: USTDA and ILN Strategic Climate Finance Mobilization Partnership
- Best Blended Investment NDC Investment Initiative of the Year: Afreximbank Climate Finance Program
- Best Youth NDC Investment Initiative of the Year: Green Jobs Platform, Jacob’s Ladder Africa
- Best Natural Capital NDC Investment Initiative of the Year: Congo Basin Natural Capital Accounting Project, Climate Investment Funds (CIF)
- Best Green Industrialization NDC Investment Initiative of the Year: The Africa Green Industrialization Initiative (AGII), African Union Commission and COP28 Presidency
The Summit and Awards successfully reinforced Africa’s commitment to advancing green industrialization and unlocking the continent’s vast climate and investment potential.
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