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Africa: The African Bank is committed to the green transition of the continent

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The African Development Bank Group’s Sustainable Energy Fund for Africa (SEFA) will provide a $1 million grant in the form of technical assistance to the Africa Green Mobility Facility. The latter provides technical assistance and investment capital to scale up and accelerate private sector investment in sustainable transport solutions in seven countries: Kenya, Morocco, Nigeria, Rwanda, Senegal, Sierra Leone and South Africa.

The donation will help create an enabling environment for EVs, design EV business models, and guidelines for the public and private sectors.

It will also develop a bankable pipeline of e-mobility projects, ensure regional coordination and knowledge sharing, to help catalyze private sector funding into the next phase of Mobility Facility investments.

“Mobility is a key element connecting people to essential services, jobs, education and opportunities,” said Nnenna Nwabufo, managing director of the African Development Bank’s East Africa Regional Office.

“We believe the African Green Mobility Facility will have a significant impact on the African market by accelerating the transition to green mobility, reducing greenhouse gas emissions by more than 2.175 million tonnes of carbon dioxide equivalent and facilitating the creation of 19,000 jobs at full time,” Nwabufo stressed.

According to the director general of the Rwanda Development Board, Clare Akamanzi, “future demand for mobility solutions and vehicles is expected to increase with rapid urbanisation, population growth and economic development. Rwanda is one of the seven pilot countries of the African Green Mobility Facility. [Da Redazione InfoAfrica]

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Read our focus on ongoing initiatives to implement a green and fair transition: https://www.africaeaffari.it/rivista/svolta-green-ma-a-che-price

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