Managers of Wealth Africa

Union Bank Signs $500m Renewable Energy Deal with Germany’s DWS

An integral aspect of this deal is its contribution to processing approximately 50 million cubic feet per day of natural gas that would otherwise be flared.

Standard Bank’s big conflict of interest as top 5 SA banks lag in climate risk race

For Nedbank, the “How Cool is Your Bank” report cites Stanley Subramoney, who is also independent non-executive director at Sasol, as being potentially conflicted.

African countries told to establish carbon market to effectively reduce greenhouse gas emissions

The African Union within the AfCFTA could lead to the creation of a regional carbon market which can be utilized for selling carbon credits.

Climate inaction to cost Kenya Sh3.7trn by 2050

Lack of interventions to mitigate against the effects of climate change

Hundreds of activists demand plastic action in Kenya

Representatives from more than 170 nations will meet in Nairobi from Monday to negotiate what concrete measures should be included in a binding worldwide treaty to end plastic pollution

Africa must build a new social contract for sustainable development – Claver Gatete

Mr. Gatete said to build a new social contract for Africa’s future, requires a focus on the levers for achieving the Sustainable Development Goals.

Absa eyes Sh120 billion green lending portfolio

Absa says it is diversifying its portfolio and increasing funding and capital allocation to initiatives that support renewable and clean energy

South Africa advances green hydrogen economy with BMW trial

South Africa is the world’s largest supplier of platinum group metals (PGMs) that are used in the electrolysis of water to split hydrogen and oxygen

IFC loans Morocco's OCP $106mln to build two solar power plants

The two photovoltaic plants will be located in the mining areas of Khouribga and Benguerir with a combined capacity of 400 megawatts and a storage capacity of up to 100 megawatt-hours

Kenya eyes green energy for baseload electricity by 2028

Kenya has for years relied on hydroelectricity as the baseload

S.Africa's Standard Bank-funded solar plants to add 5% to grid by end-'24

The expected 5% of additional power to the national grid from the Standard Bank-funded projects awarded to companies last year is close to the shortfall in power demand and supply the country faces, a Reuters analysis showed.

South African president calls on wealthy nations to meet financial pledges on climate

At UN General Assembly, Cyril Ramaphosa urges fulfillment of annual $100B pledge for climate action, calls for UN reform

African banking industry urged to invest in carbon markets

The workshop also focused on carbon finance business models, the intricacies of financing clean cooking projects, and their associated risk-return profiles.

Mozambique Plans Climate Announcement Worth Billions at COP28

An investment plan will be announced at COP28, Mataveia said.

GFANZ Africa Network, African Development Bank Announce Climate Action Partnership

New partnership seeks to engage African financial institutions on climate transition planning and finance

Africa Development Bank to mobilise $1bln to provide climate risk insurance

AfDB President calls for investments in renewable energy in Africa

Inside the multi-billion dollar deals at Nairobi climate summit

The deals, some directly targeted at Kenya

SA’s energy bounce-back scheme ‘too little too late’

Standard Bank, Absa, FNB and Nedbank confirmed as participants in the energy loan scheme.

UAE announces $4.5bn initiative to support deployment of clean energy in Africa

The landmark initiative brings together Abu Dhabi Fund for Development , Etihad Credit Insurance, Masdar and AMEA Power among others

COP28 plans $4.5bn funding for African clean energy

The announcement was made during a keynote address at the inaugural African Climate Summit in Nairobi, Kenya.

ESG