The African Development Bank (AfDB) has pledged its support for the upcoming 2024 Climate Action Africa Forum (CAAF24) Deal Room, set to take place from June 19 to 20, 2024, at the Landmark Event Centre in Lagos, Nigeria.
The Nigeria Sovereign Investment Authority, The Catalyst Fund, and the Africa Enterprise Challenge Fund are also key supporters of this event.
The CAAF24 Deal Room serves as a pivotal platform connecting climate innovators across Africa with investors keen on supporting sustainable solutions. Climate-tech businesses focusing on emissions reduction, energy, agriculture, transportation, circular economy, and building and construction are encouraged to participate.
Sonia Borrini, Communication and Knowledge Management Specialist at the African Development Bank, emphasized the significance of this initiative: “By fostering connections between passionate entrepreneurs and committed investors, including the Bank’s strategic involvement, we can collectively unlock the immense potential of climate solutions in Africa.”
The Bank’s involvement underscores its dedication to boosting investments in Africa’s green economy. It aims to cultivate a vibrant community of innovators, entrepreneurs, and investors dedicated to devising practical solutions to mitigate the challenges posed by climate change on the African continent.
Eligibility criteria for the CAAF24 Deal Room include:
- African-owned companies operating in any of the 54 African countries.
- For-profit companies between 1-5 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.
Grace Oluchi Mbah, Executive Director of Climate Action Africa, highlighted the pivotal role of the CAAF24 Deal Room: “Through the CAAF24 Deal Room, and with the African Development Bank’s participation, we aim to bridge the crucial gap between promising climate ventures and the vital resources they need to thrive.”
The CAAF24 Deal Room will culminate with a post-event accelerator program in collaboration with the Silicon Valley-based Founder Institute and IDEA Africa. This program is tailored to further accelerate and bolster support for promising climate tech startups and founders.
