Equity Group CEO Dr James Mwangi has urged African public and private sectors to push for greater capital inflows into Africa to finance green business ventures across the continent.
Dr Mwangi noted that the growth of clean energy in Africa avails profitable investment scenarios as the continent possesses 60 per cent of the global green energy potential.
Speaking to Bloomberg on the sidelines of COP28 Climate Conference in Dubai, he called for strategic growth of green minerals and scaled food security through sustainable agriculture.
The CEO further underscored Equity Group’s commitment to issuing its green bond as soon as the current global macroeconomic challenges ease up expectedly in a few months.
The revelations by Dr Mwangi comes months after the initial plan to float the green bond was shelved owing to high inflation and interest rates that was being witnessed regionally.
He further challenged producers and consumers across the value chain to collaborate in ensuring the adoption of sustainable processes to better mitigate effects of climate change.
“Everyone is in the trade value chain as a consumer or producer. All we have to do is work jointly to clean up the supply chains and make them sustainable,” said Dr Mwangi.
In September, the Equity Group MD & CEO challenged private sector players in Kenya to invest more in innovative technologies that foster sustainable development across Africa.
He noted that the private sector, through industrialization, had played a key role in the deterioration of nature hence need to play a greater role in climate change mitigation.
Dr Mwangi spoke when Equity Group hosted the Africa Climate Summit Private Sector Breakfast to facilitate key dialogues on climate challenges and sustainable development.