The African Development Bank (AfDB) has thrown its weight behind the 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.

Joining AfDB in this initiative are the Nigeria Sovereign Investment Authority, The Catalyst Fund, and the Africa Enterprise Challenge Fund. The CAAF24 Deal Room is designed to connect climate innovators in Africa with investors eager to support sustainable solutions.

Climate-tech enterprises focused on reducing emissions, energy, agriculture, transportation, the circular economy, and building and construction are encouraged to apply.

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“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,” said Sonia Borrini, Communication and Knowledge Management Specialist at AfDB.

The Bank’s support underscores its commitment to enhancing investments in Africa’s green economy, aiming to foster a community of innovators, entrepreneurs, and investors dedicated to addressing the continent’s climate challenges.

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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.

“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,” stated Grace Oluchi Mbah, Executive Director of Climate Action Africa.

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The event will culminate in a post-event accelerator program in partnership with the Silicon Valley-based Founder Institute and IDEA, designed to further support and accelerate promising climate tech startups and founders.

The African Development Bank’s unwavering commitment to climate action initiatives in Africa and its belief in the potential of the CAAF24 Deal Room to drive sustainable solutions continues to inspire and drive forward-thinking climate innovation across the continent.