African Development Bank Group 2023 Annual Meetings - Panel Discussion: ““Collaboration between Private and Public Sector is essential for financing the green transition in Africa”

WHO:      African Development Bank, Absa

WHAT:    Panel Discussion: ““Collaboration between Private and Public Sector is essential for financing the green transition in Africa”

WHEN:    24th May 2023, TIME: 17h30 – 19h00 (local time)

Venue:    Fayrouz Room on the Capital side of the Sharm El Sheikh ICC

Summary:

This event will facilitate a frank discussion that acknowledges the challenges faced by the African continent in its ambition to achieve a just energy transition.  The conversation will seek to identify opportunities and adopt a solution mindset that captures the roles of both private and public sector, to catalyse the green transition in Africa.

Absa, appreciates the existing relationship with AfDB through its Financial Sector Development Department. Absa enjoys a $250m Risk Participation Facility from the AfDB that supports its Trade and Working Capital business in Africa.

The green transition in Africa, which aims to promote sustainable development while reducing the continent's carbon footprint, requires significant investment from both the public and private sectors.

The public sector has the authority and mandate to shape policies, regulations, and institutions that can facilitate private sector growth. They can implement policy frameworks that promote sustainable development and incentivize private sector investment.

Private sector has the resources, expertise, and flexibility to identify and exploit opportunities for growth in Africa. It can provide critical funding for renewable energy projects, energy-efficient buildings, and sustainable agriculture practices as well as bringing much-needed expertise, innovation, and entrepreneurial spirit to the green transition in Africa.

Key Themes:

• Financial Inclusion - beyond adaption financing, what is the role of the coalition of DFIs and commercial Banks in financing a just transition, that encourages financial inclusion and promotes access to finance?


• Governance – government has a huge role to play and how do they create an enabling environment through policy support and advocacy, in the context of the current tough financing conditions in Africa?


• Capital Markets Solutions - the ability to raise funding from domestic markets must deepen and broaden to support green transition. How can the work that is being done by the AfDB be expanded and scaled by incentivizing bonds and other instruments that attract financing for greener investments?


• Just Energy Transition - bring real examples of challenges experienced in Africa. Example of SA power sector challenge while still focusing on driving transition to greener energy. What is the short-term solution and how can the challenges be addressed in a way that is Just?

Moderator:

Mr. Msizi Khoza – Managing Director, Head ESG Absa Bank CIB

Panellists:

1. Ms. Boitumelo Mosako, Chief Executive Officer, Development Bank of Southern Africa (DBSA)

2. Mr. Saviour Chibiya, CEO, Africa Regional Operations, Absa Group

3. Mr. Ahmed Attout, Ag. Director, Financial Sector Development Department, AfDB

4. Mr. Ramy El Dokany, Chairman, Egyptian Stock Exchange

5. Dr. Christopher Marks, Managing Director - Head Emerging Markets, EMEA, The Bank of TokyoMitsubishi UFJ, Ltd (MUFG)