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Rwanda, Team Europe and partners pioneer an additional EUR 300 million financing to crowd in private investment and build climate resilience

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The ground-breaking partnership is part of ongoing efforts by the international community to reshape the global climate finance architecture

PARIS, France, June 23, 2023/APO Group/ — 

Building on the Resilience and Sustainability Facility with the International Monetary Fund, the Government of Rwanda, together with the Agence Française de Développement (AFD), European Investment Bank (EIB) (www.EIB.org), Cassa Depositi e Prestiti (CDP), and the International Finance Corporation (IFC), are announcing a cooperative approach to facilitate public-private partnership, scale-up climate finance and crowd in private climate investment that will mobilise an additional EUR 300 million to build climate resilience in Rwanda.

The new support complements and builds on the USD 319 million in financing accessed by the Government of Rwanda through the Resilience and Sustainability Facility (RSF) arrangement with the International Monetary Fund (IMF).

The ground-breaking partnership, which was unveiled at the Paris Summit for a New Global Financing Pact, is part of ongoing efforts by the international community to reshape the global climate finance architecture, including by moving beyond small-scale projects to significant long-term investments that leverage existing mechanisms to facilitate public-private partnerships and attract private sector investments.

Importantly, this collaborative support will bolster Rwanda’s efforts to address the impact of climate change on vulnerable communities and strengthen the catalysing effect of the IMF’s RSF arrangement by attracting additional budget support from partners, initiate a programmatic approach for climate investments, and scale up Ireme Invest – Rwanda’s unique and innovative investment facility dedicated to private sector green investment – that was launched by His Excellency President Paul Kagame in November 2022 at the UN Climate Change Conference (COP27) in Egypt.

A three-pronged approach

International partners will support Rwanda’s efforts to accelerate climate investments through action across three pillars:

  1. Policy reforms to address challenges triggered by climate change
  2. Capacity development initiatives, and
  3. Financing arrangements

Actions in these three areas are expected to strengthen and institutionalise the monitoring and reporting of climate-related spending, integrate climate risks into fiscal planning, improve the sensitivity of public investment management to climate-related issues, strengthen climate-related risk management for financial institutions, and fortify disaster risk reduction and management.

Partners have also committed to support Rwanda’s capacity development initiatives, and help attract and better manage further climate capital. As part of the collaborative approach, partners have committed to consolidate and mobilise the following climate finance resources for Rwanda:

Programmatic budget support for green public financial management

AFD is providing EUR 50 million programmatic budget support accompanied by a EUR 3 million technical assistance grant, with an initial disbursement expected in 2023. This financial contribution will be complementary and additional to the RSF-supported programme’s matrix of reforms, the greening of public investments and procurement as well as strengthening Rwanda’s Measurement, Reporting, and Verification (MRV) framework. The technical assistance will also support the implementation of Rwanda’s sustainable finance roadmap with a view to increase private sector mobilisation in support of climate action.

A new programmatic approach for Nationally Determined Contributions (NDC) investment

With its innovative lens, this partnership will maximise limited public finance to channel private capital into climate-related projects

The International Finance Corporation, in partnership with the Government of Rwanda through the Rwanda Green Fund (FONERWA), will jointly develop long-term investment plans for climate smart agriculture and sustainable urbanisation to increase the role of the private sector in greening Rwanda’s economy.

Scaling up Ireme Invest for private sector investment

Launched at COP27, Ireme Invest is a green investment facility powered by the Rwanda Green Fund (FONERWA) and the Development Bank of Rwanda (BRD), and developed through technical assistance from the World Bank. BRD is currently finalising the identification of a pipeline of private sector projects estimated at EUR 400 million based on a common set of eligibility criteria, governance, and reporting mechanism with its financing contributors for Ireme Invest.

  • The Government of Rwanda will support scaling up of access to green finance for the private sector to further enable BRD to grow its lending portfolio for the private sector at affordable interest rates.
  • The European Investment Bank is expected to provide EUR 100 million supported by the European Union. This support is provided under the Global Gateway strategy: the EU’s positive offer to deliver sustainable and trusted connections with partner countries and build more resilient societies for people and planet.
  • Cassa Depositi e Prestiti – the Italian Development Finance Institution – is discussing with the Government of Rwanda and BRD joint actions to scale up climate finance bridging public and private investments.

To further underpin the creation of private green assets in Rwanda, Ireme Invest private stakeholders will also directly contribute EUR 130 million equivalent in own private equity. The creation of new green private assets also opens the door for future issuances of innovative debt instruments on the local and international markets which will further crowd in private investment.

The coordinated initiative to scale up climate financing, combined with the policy reforms envisaged under the IMF’s RSF arrangement and capacity development support from the IMF will allow Rwanda to better withstand economic shocks and adapt to a changing climate. This unique collaboration between the Government of Rwanda and international partners exemplifies the power of partnerships in tackling pressing global challenges. It sets a precedent for other nations and financial institutions to explore innovative financing mechanisms and join forces in the pursuit of a sustainable and climate-resilient world.

It also adds to the substantial financial and technical support provided by the World Bank (IDA) to support Rwanda’s efforts to enhance its climate resilience and secure its natural assets – especially in vulnerable communities – unlock private investments and promote green finance and trade, as well as financial contributions by the Governments of Germany, the United Kingdom, Sweden and Denmark towards Rwanda’s NDC climate action plan objectives.

Quotes

“The partnership we have announced represents a transformational shift in the provision of climate finance and is a vote of confidence in Rwanda’s long-term climate action strategy. This is an important milestone in our journey to achieve our Nationally Determined Contributions that are estimated at USD 11 billion by 2030. We thank all the partners that have joined this initiative and we will be working together to make it a reality.” – The Right Honourable Prime Minister of Rwanda, Dr. Edouard Ngirente.

“The announcement is a testament of Rwanda’s commitment to sustainability, which has been widely recognised and applauded on the global stage. It also shows how close collaboration among international and domestic partners in the context of strong climate reforms under the RST can amplify climate financing, providing a model for accelerating investment to deliver a greener and more prosperous future around the world.” – Kristalina Georgieva, Managing Director of the International Monetary Fund.

“The agreement with Rwanda illustrates how joining forces in international partnerships is the only way forward in addressing the climate crisis. The European Union and its Member States are the world’s largest provider of public climate finance, and we remain committed to a multilateral approach. Through Global Gateway and together with our allies, we strive to bridge the investment gap and support partner countries, in particular in Africa, to mitigate and adapt to climate change. Our ambition is a green transition that is fair to the most vulnerable.” – Jutta Urpilainen, European Commissioner for International Partnerships.

“The close cooperation between the Government of Rwanda, IMF, international financing partners and the EIB is harnessing the potential of Special Drawing Rights to advance climate action. The strategic use of SDRs will significantly amplify the impact of climate action investments in the country, paving the way for a greener and more prosperous future. This initiative represents the EIB’s strong commitment to combating climate change and supporting sustainable development in Rwanda and beyond.” – Werner Hoyer, President of the European Investment Bank.

“With its innovative lens, this partnership will maximise limited public finance to channel private capital into climate-related projects. IFC will work with the government of Rwanda to develop an investment pipeline to build a resilient, low-carbon economy among the most vulnerable communities, with a focus on sustainable cities and climate-smart agriculture.” – Makhtar Diop, IFC Managing Director.

“In very few years, AFD and actors of the Rwandan financial ecosystem have engaged in a solid cooperation on climate finance on the country’s vision to align its public and private investment flows with its ambitious climate change strategy.” – Remy Rioux, Director General Agence Française de Développement.

Distributed by APO Group on behalf of European Investment Bank (EIB).

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Creative Africa Nexus (CANEX) WKND 2026 opens in Lagos, bringing together leading African and diaspora creatives, investors and policymakers

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The four-day gathering will convene leading voices from film, music, fashion, sport, publishing, gastronomy and business to advance trade, investment and commercial opportunities across Africa’s creative economy

LAGOS, Nigeria, November 5, 2026/APO Group/ –Creative Africa Nexus (CANEX) WKND 2026 has opened today in Lagos, bringing together leading creatives, investors, policymakers, business leaders and cultural figures from across Africa and the diaspora for four days of conversations, deal-making, performances, exhibitions and industry-focused sessions.

 




  

Hosted by the Federal Government of Nigeria and organised by African Export-Import Bank (Afreximbank) through its Creative Africa Nexus (CANEX) programme, this year’s event runs from 5 to 8 November under the theme “One People, United in Culture, Creating for the World.”

The 2026 programme spans film and television, music, fashion, sport, literature and publishing, gastronomy and visual arts, with a strong focus on finance, intellectual property, technology, skills, investment and market access.

Across the four-day programme, CANEX WKND will provide platforms for deal-making, industry dialogue and sector-specific engagement, including the CANEX Deal Room, with the aim of turning creative talent and ideas into stronger businesses, partnerships and commercial opportunities.

That ambition reflects the evolution of Afreximbank’s commitment to Africa’s creative and cultural industries in 2020, subsequently doubling this to US$1 billion before quadrupling the original commitment financing available to US$2 billion.

The expansion reflects Afreximbank’s wider objective of helping African creators and creative businesses build scalable enterprises, strengthen ownership of intellectual property and retain more of the economic value generated by African culture and creativity.

The opening ceremony is expected to feature addresses by Ministers of Culture and Creative Industries across 11 African countries, Dr George Elombi, President and Chairman of the Board of Directors of Afreximbank, H.E. Dr Olajumoke Omoniyi Oduwole, Nigeria’s Minister of Industry, Trade and Investment, H.E. Wamkele Mene, Secretary-General of the African Continental Free Trade Area Secretariat, and H.E. Babajide Sanwo-Olu, Governor of Lagos State among other dignitaries.

The programme will bring together some of Africa and the diaspora’s most influential cultural and industry figures. Participants include Nobel Laureate, writer and playwright Professor Wole Soyinka; Emmy Award-winning actor Uzo Aduba; filmmaker and actor Funke Akindele; actors Richard Mofe-Damijo and Thuso Mbedu; former professional footballers Didier Drogba and Jay-Jay Okocha; alongside leading figures from Africa’s music, film, fashion, sport and creative business sectors.

The event will also include performances and appearances from musicians and entertainers such as Davido, Fally Ipupa, Flavour, Libianca and Charlotte Dipanda, reflecting CANEX WKND’s combination of industry engagement with live cultural programming.

Beyond the headline names, the programme places a strong emphasis on the business of Africa’s creative economy.

On 6 November, a high-level conversation titled “One Market, One Culture: Building the Creative Economy of Global Africa” will examine the steps required to convert the growing global influence of African culture into stronger creative businesses, exports and investment. Speakers include Professor Wole Soyinka; ministers responsible for culture and the arts from Côte d’Ivoire, South Africa and Rwanda; International Finance Corporation representatives; and from Afreximbank.

Financing will also be central to the programme. The Creative Economy Finance Summit, presented by Afreximbank in partnership with the Creative Economy Practice at Co-Creation Hub, will bring financial institutions and investors together to examine how creative-economy transactions can be structured, financed and de-risked.

CANEX Creations Inc. will lead discussions on unlocking investment in African intellectual property, while the CANEX Deal Room and Creative Pitch Sessions will connect creative entrepreneurs directly with financiers and investors considering opportunities across film and television, music, fashion, sport, publishing, gastronomy, visual arts and creative infrastructure. Technology and the changing economics of creative production will feature prominently. Sessions will examine artificial intelligence, authorship and intellectual property; the use of technology to reshape creative businesses; and how African creators can use digital tools to develop globally competitive products.

The CANEX CreaThon, delivered with pan-African technology company Gebeya, will bring creators, developers and innovators together around projects in music, video and gaming, supported by African-built digital tools, mentorship, computing resources and a US$50,000 prize pool. Film and television programming will explore both storytelling and the commercial infrastructure required to take African content to wider audiences. Sessions include “Stories Without Borders: Africa, Hollywood & the Global Diaspora”, featuring former Afreximbank President Professor Benedict Oramah, and “Made in Africa, Watched in Africa”, which will examine research into film distribution, audiences and financing across Egypt, Kenya, Nigeria, Rwanda, Senegal and South Africa.

Sport will form another major strand of CANEX WKND 2026. Discussions will examine athlete development, management, commercialisation and the links between sport and the broader creative economy. Didier Drogba and Jay-Jay Okocha are scheduled to participate in “When Giants Speak: The Business of the Game,” while the weekend will conclude with a Legends Football Match at Onikan Stadium on 8 November. Fashion programming will include masterclasses on building profitable African brands, textile value chains, market access and intellectual property, alongside the CANEX Fashion Show and Awards Night.

In gastronomy, the CANEX Junior Chefs Competition, Africa Jollof Wars Competition and a series of live demonstrations and conversations will explore how African food, ingredients and culinary traditions can become stronger commercial propositions across domestic, continental and global markets. Publishing and literature will feature through the CANEX Book Factory, Book Fair, writers’ workshops, manuscript pitching and the CANEX Prize for Publishing, while visual arts programming will combine exhibitions, collector engagement and practical sessions for artists navigating Africa’s growing art ecosystem.

On 7 November, CANEX WKND 2026 will host a major concert bringing together artists from across Africa and the diaspora, before the programme continues into its final day on 8 November with cultural excursions, gastronomy activities, the CANEX Music Factory Songwriting Camp and the Legends Football Game.

Distributed by APO Group on behalf of Afreximbank.

 




 

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Coca-Cola system invests USD 1.22 million to strengthen water security in Namibia

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Coca-Cola

The initiative represents a nearly USD 25 million investment focused on helping address critical water-related challenges across 20 African countries by 2030

WINDHOEK, Namibia, November 5, 2026/APO Group/ –As Namibia continues to face recurring droughts and growing water demand, the country’s water resources are under increasing pressure. Windhoek is situated in one of the most water-stressed regions in sub-Saharan Africa, where low and unpredictable rainfall, combined with high evaporation rates, continues to challenge water availability and long-term water security.[1]

 




  

To help address these shared water challenges, the Coca-Cola system is investing USD 1.22 million in the //Gam-i Swakop Basin Resilience Project, designed to help strengthen water security and support ecosystem restoration in the Swakop River Basin, a vital water source for the city of Windhoek and surrounding communities.

The //Gam-i Swakop Basin Resilience Project aims to support improved water availability and help strengthen the resilience of the Swakop River Basin through nature-based solutions that support sustainable water resource management across the catchment area.

Implemented in collaboration with the Global Water Challenge (GWC) and World Wildlife Fund (WWF) Namibia, the project includes the construction of two sand storage dams, restoration of 235 hectares of land through the clearing of invasive alien plants, and the planting of 750 trees in river buffer zones and environmentally degraded areas within Windhoek’s informal settlements. In addition, two boreholes will be drilled to support groundwater recharge in the Windhoek aquifer, and a water resilience action plan has been developed.

Through the Africa Water Stewardship Initiative, the system aims to help protect important watersheds and to improve access to water and sanitation in local communities

This work forms part of the Coca-Cola system’s Africa Water Stewardship Initiative, launched in 2024. The initiative represents a nearly USD 25 million investment focused on helping address critical water-related challenges across 20 African countries by 2030.

“Because water challenges are local, our approach to water security is focused on local action and collaboration,” said Alfred Olajide, Vice President of East and Central Africa Operations at Coca‑Cola. “The Coca‑Cola system remains focused on helping to promote water stewardship, increasing water use efficiency, and treating and returning safe water to communities.”

Henry Friedrich, General Manager of Coca-Cola Namibia Bottling Company (CCNBC) added: “As part of the Coca-Cola Beverages Africa group, we have a responsibility to assist those who face water scarcity and to help protect local water resources where we operate, especially in places with the biggest challenges. Through the Africa Water Stewardship Initiative, the system aims to help protect important watersheds and to improve access to water and sanitation in local communities.”

WWF Namibia Country Director, Dr Juliane Zeidler, said: “Water is one of Namibia’s most precious and increasingly vulnerable resources. This project is an opportunity to demonstrate how investing in healthy ecosystems can deliver tangible benefits for people, while also helping communities become more resilient to future climate pressures. We hope the lessons and partnerships developed through this initiative can inform similar approaches elsewhere in the country.”

“Collaboration is essential to addressing shared water challenges effectively. Coca-Cola and its authorised bottlers continue to work with governments, businesses, and civil society organisations to design and implement strategic interventions,” concluded Olajide.


Distributed by APO Group on behalf of Coca-Cola Beverages Africa.

 

 




 

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‘Power, Protect, Purchase’: Africa Made It unveils blueprint to capture USD 34B in GDP and accelerate African industrial sovereignty

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Africa

Africa Practice research shows that Africa exports up to 98% of its raw cotton overseas and captures only 2% of its total value while incurring a USD 35 billion annual trade deficit

African culture, design, and storytelling influence global fashion, music, and media like never before

LAGOS, Nigeria, November 5, 2026/APO Group/ –Africa Made It (https://AfricaMadeIt.co/), the continental movement driving Africa’s industrial sovereignty, today officially launched its campaign, “Power, Protect and Purchase,” at the CANEX weekend in Lagos, Nigeria. Aimed at unlocking USD 34 billion in annual GDP contribution through a structural transition from unprocessed raw cotton exports to end-to-end local garment processing, the initiative seeks to turn Africa’s vast natural wealth into sovereign, self-sustaining economic power.

 




  

Africa Made It is driven by a consortium of leading pan-African organisations, advocacy groups, and media organisations who are positioning Africa as a global investment hub. Its flagship campaign, spotlighting the fibre-to-fashion value chain, presents a clear roadmap for continental industrialisation: securing competitive energy power for local industrial mills, enacting policy measures to protect emerging domestic manufacturers from unfair foreign imports, and rallying African consumers to purchase locally manufactured apparel. Together, these three pillars ensure that value created from African resources remains on African soil.

 

Africa Practice research shows that Africa exports up to 98% of its raw cotton overseas and captures only 2% of its total value while incurring a USD 35 billion annual trade deficit.  Building the continent’s domestic processing capacity in spinning, weaving, and sewing locally produced cotton will sustain nearly two million permanent industrial jobs and inject approximately USD 33 billion directly into domestic household incomes every year, in addition to a recurring contribution of USD 34 billion to the continent’s GDP.

 

While these figures reveal the immense macro-economic potential of the value chain, the true heart of this transformation lies in its human impact. Industrial wages and local lint purchases leading to increased capital circulation in rural communities can drive community micro-economic vitality and contribute to rural poverty reduction. Additionally, formal employment opportunities can expand drastically for women, as they currently make up between 70-90% of garment factory workers on the continent.

 

Realising this vision and changing the lives of millions of people requires a deliberate combination of targeted investments, supportive trade policies, and consumer mobilisation. A USD 1.8 billion capital allocation toward critical structural enablers for garment transformation is the foundation for bridging Africa’s missing middle in the fibre-to-fashion value chain.

 

Marie Wilke, editor-in-chief of the Africa Made It magazine, said, “African culture, design, and storytelling influence global fashion, music, and media like never before. Yet, without domestic manufacturing infrastructure, Africa’s creative authority yields very little economic return. Linking raw cotton harvest directly to local processing ensures that the intellectual property, commercial margins, and industrial jobs remain on the continent. It is time to wear our power.”

 

To learn more about the potential of Africa’s fibre to fashion value chain, watch the campaign video (https://apo-opa.co/4BKAIvY) or read the Africa Made it (https://apo-opa.co/4zvA5VF)magazine (https://apo-opa.co/4zvA5VF). Access the campaign website and resources in English (https://apo-opa.co/4zvA5VF) and French (https://apo-opa.co/4zrK8e2).

Distributed by APO Group on behalf of Africa Made It.

 

 




 

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