African Development Bank (AfDB) has pledged its support for the 2024 Climate Action Africa Forum (CAAF24) Deal Room, taking place from June 19 to 20, 2024 at the Landmark Event Centre in Lagos.
Nigeria Sovereign Investment Authority, The Catalyst Fund, and the Africa Enterprise Challenge Fund are also supporting the event.
The CAAF24 Deal Room is a platform connecting climate innovators in Africa with investors interested in supporting sustainable solutions. Climate-tech businesses focused on reducing emissions, energy, agriculture, transportation, circular economy, and building and construction are encouraged to apply.
Communication and Knowledge Management Specialist at the AfDB,Sonia Borrini, said: “By facilitating connections between passionate entrepreneurs and dedicated investors, including the bank’s strategic involvement, we can collectively unlock the immense potential of climate solutions in Africa.”
According to him, the bank’s participation reflects its commitment to boosting investments in Africa’s green economy.
It aims to galvanise a community of innovators, entrepreneurs, and investors to create applicable solutions to mitigate the challenges of climate change on the African continent.
“Eligibility for the CAAF24 Deal Room includes: African-owned companies operating in any of the 54 African countries; For-profit companies between one to five years post-incorporation, post-minimum viable product and post-go-to-market; companies that leverage digital technology in their business model.
“Female ownership is considered an added advantage.” Speaking on the event, Executive Director of Climate Action Africa, Grace Oluchi Mbah, said: “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.”
