The Fort Worth Press - Africa climate summit to urge investment in continent

USD -
AED 3.672504
AFN 66.503991
ALL 80.629676
AMD 365.091035
AOA 917.000367
ARS 1491.937897
AUD 1.417435
AWG 1.80125
AZN 1.70397
BAM 1.691649
BBD 2.00813
BDT 123.418242
BHD 0.375989
BIF 2985.079791
BMD 1
BND 1.277602
BOB 11.849673
BRL 5.083304
BSD 0.997016
BTN 94.875232
BWP 13.457596
BYN 2.968819
BYR 19600
BZD 2.00519
CAD 1.39545
CDF 2262.50392
CHF 0.80949
CLF 0.023206
CLP 913.315746
CNY 6.747604
CNH 6.743285
COP 3142.844787
CRC 453.228387
CUC 1
CUP 26.5
CVE 95.372573
CZK 20.982104
DJF 177.546166
DKK 6.46804
DOP 58.20179
DZD 132.308956
EGP 49.631449
ERN 15
ETB 160.923669
EUR 0.86495
FJD 2.20855
FKP 0.74148
GBP 0.742583
GEL 2.610391
GGP 0.74148
GHS 11.700039
GIP 0.74148
GMD 73.503851
GNF 8756.649224
GTQ 7.607144
GYD 208.588851
HKD 7.84315
HNL 26.723176
HRK 6.518804
HTG 130.363707
HUF 314.060388
IDR 17801
ILS 2.99985
IMP 0.74148
INR 95.210504
IQD 1306.058902
IRR 1375550.000352
ISK 123.340386
JEP 0.74148
JMD 158.335856
JOD 0.70904
JPY 157.80604
KES 129.014401
KGS 87.450384
KHR 4049.647537
KMF 426.00035
KRW 1407.860383
KWD 0.30866
KYD 0.830861
KZT 467.275008
LAK 22510.919863
LBP 89282.792025
LKR 334.420274
LRD 179.959348
LSL 16.197552
LTL 2.95274
LVL 0.60489
LYD 6.341738
MAD 9.29222
MDL 17.337716
MGA 4254.638239
MKD 53.215413
MMK 2099.549369
MNT 3595.852714
MOP 8.056654
MRU 40.080439
MUR 47.070378
MVR 15.450378
MWK 1728.841413
MXN 17.13645
MYR 4.090104
MZN 63.905039
NAD 16.197552
NGN 1364.860377
NIO 36.690741
NOK 9.51237
NPR 151.800372
NZD 1.701115
OMR 0.382693
PAB 0.997016
PEN 3.376465
PGK 4.406003
PHP 60.705038
PKR 276.796523
PLN 3.719205
PYG 5928.296501
QAR 3.644596
RON 4.536304
RSD 101.492021
RUB 81.598409
RWF 1466.072741
SAR 3.755591
SBD 8.065696
SCR 14.449077
SDG 600.503676
SEK 9.480804
SGD 1.278038
SLE 24.603667
SOS 569.822255
SRD 37.866504
STD 20697.981008
STN 21.191022
SVC 8.723782
SZL 16.194265
THB 33.050369
TJS 9.197509
TMT 3.51
TND 2.929032
TRY 47.697504
TTD 6.757774
TWD 32.250604
TZS 2639.622886
UAH 44.653894
UGX 3714.050945
UYU 40.133201
UZS 11924.058297
VES 755.762404
VND 26204.5
VUV 118.557141
WST 2.733716
XAF 567.363231
XAG 0.015731
XAU 0.00023
XCD 2.70255
XCG 1.796912
XDR 0.705618
XOF 567.363231
XPF 103.152705
YER 238.403589
ZAR 16.14632
ZMK 9001.203584
ZMW 18.818492
ZWL 321.999592
  • BCC

    2.3400

    86.6

    +2.7%

  • CMSC

    0.0240

    21.744

    +0.11%

  • GSK

    0.7900

    52.96

    +1.49%

  • CMSD

    -0.1600

    21.82

    -0.73%

  • NGG

    0.4700

    80.88

    +0.58%

  • JRI

    0.1500

    12.81

    +1.17%

  • BCE

    -0.0200

    22.75

    -0.09%

  • RBGPF

    0.7600

    70.5

    +1.08%

  • RIO

    1.4500

    101.1

    +1.43%

  • RYCEF

    0.2300

    20.85

    +1.1%

  • VOD

    0.1900

    16.19

    +1.17%

  • RELX

    0.0485

    35.52

    +0.14%

  • BP

    -0.6000

    41.63

    -1.44%

  • AZN

    1.4100

    161.42

    +0.87%

  • BTI

    0.6000

    59.33

    +1.01%

Africa climate summit to urge investment in continent
Africa climate summit to urge investment in continent / Photo: © AFP

Africa climate summit to urge investment in continent

African policymakers will kick off a landmark climate summit in Kenya on Monday aimed at reframing the continent as a budding renewable energy powerhouse and calling for international financial help to unlock its potential.

Text size:

Kenyan President William Ruto says he wants the first Africa Climate Summit to help "deliver African solutions" to the November COP28 climate summit in the oil-rich United Arab Emirates, which will likely be dominated by clashing visions for the world's energy future.

Africa, home to 1.2 billion people spread across 54 nations, is politically and economically diverse and its communities are among the most vulnerable to climate change.

Analysts say if the summit can bring together leaders from the continent to define a shared vision of Africa's green development, then that could ripple across a flurry of international diplomatic and economic meetings leading up to COP28.

Joseph Nganga, Ruto's appointee to head the summit, said the conference would demonstrate that "Africa is not just a victim but a dynamic continent with solutions for the world".

"We have the power to address this crisis... Africa represents a positive opportunity for the world if we work together towards mutually beneficial outcomes," said Nganga from the Global Energy Alliance for People and Planet, which promotes renewable power in developing nations.

Security has been tightened and roads closed around the summit venue in central Nairobi, where the government says 30,000 people have registered to attend the three-day event.

Civil society groups are expected to protest near the summit at its opening on Monday against what they call its "deeply compromised agenda" and focus on rich-nation interests.

- Daunting challenges -

A draft version of the final declaration seen by AFP puts the spotlight on Africa's vast renewable energy potential, young workforce, and natural assets.

Those include 40 percent of global reserves of cobalt, manganese, and platinum crucial for batteries and hydrogen fuel-cells.

But there are daunting challenges for a continent where hundreds of millions of people currently lack access to electricity.

Reminders of political instability in the region came last week, with a military takeover in Gabon little more than a month after a coup in Niger.

Countries in Africa are also hamstrung by mounting debt costs and a dearth of finance.

Despite hosting 60 percent of the world's best solar energy resources, Africa has roughly the same amount of installed capacity as Belgium, according to a commentary published last month by Ruto and the International Energy Agency chief Fatih Birol.

Currently, only about three percent of energy investments worldwide are made in Africa.

Charra Tesfaye Terfassa of the think tank E3G, said the summit should balance optimism with a tough assessment of the challenges to "chart a new path for Africa to be a key part of the global conversation and benefit from the opportunities of the transition."

The Nairobi meeting is expected to draw several African heads of state, EU chief Ursula von der Leyen and UN head Antonio Guterres and other leaders.

C.Dean--TFWP