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AfriCatalyst calls for establishment of an African Methane Abatement Bond framework to finance methane action

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2 years ago

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AfriCatalyst

Notably, 19 African countries are responsible for 80 percent of the continent’s methane emissions, with Nigeria, Sudan, the Democratic Republic of Congo, and Egypt contributing half of the total

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DAKAR, Senegal, January 23, 2024/APO Group/ — 

AfriCatalyst (www.AfriCatalyst.com), a leading Dakar-based global development advisory group, has urged African leaders to develop a framework for issuing African Methane Abatement Bonds (AMAB). This urgent appeal accompanied the launch of AfriCatalyst’s groundbreaking report (https://apo-opa.co/3ObUfOw) that sheds lights on the alarming surge in methane emissions across the continent and emphasizes the need for immediate global action to mobilize the resources needed to address this environmental crisis.

The report reveals that methane emissions in Africa have risen at an annual rate of 2 percent from 1990 to 2022, contributing a staggering 14 percent to the total global methane emissions. Notably, 19 African countries are responsible for 80 percent of the continent’s methane emissions, with Nigeria, Sudan, the Democratic Republic of Congo, and Egypt contributing half of the total. These emissions predominantly emanate from the agricultural sector (51%), energy production (35%), and waste management (14%).

While almost all African nations have outlined their Nationally Determined Contributions (NDCs), the lack of adequate financing impedes achievement of these goals. Only 2 percent of global climate financing was allocated towards methane abatement last year, and sub-Saharan Africa received a mere 6 percent of global methane financing.

In the report, AfriCatalyst has identified several avenues for boosting domestic and external financing for methane action in Africa. Its launch follows a high-level panel session held by AfriCatalyst in November, 2023, under the theme “Financing Methane Action in Africa ”(https://apo-opa.co/3vSI6Yw).

Only 2 percent of global climate financing was allocated towards methane abatement last year, and sub-Saharan Africa received a mere 6 percent of global methane financing

“Financing methane action faces a number of challenges. The first relates to the limited awareness on methane abatement in Africa and how to finance methane abatement efforts across the continent. There is strong evidence that if we do have ambitious methane abatement objectives in Africa, certainly we will be able to make the continent meet its commitments under the Paris Accord,” remarked Daouda Sembene, AfriCatalyst’s CEO, and co-author of the report.

According to AfriCatalyst, a collaborative effort by the 19 top African methane emitters could unlock additional funding by leveraging available financing from various partners, including European Union (EU) grants which could total nearly 6.4 billion Euros under the Neighborhood, Development, and International Cooperation Instrument – Global Europe (NDICI). Such financial support could be complemented by technical assistance from reputable institutions such as the African Development Bank (AfDB), International Monetary Fund (IMF), and the World Bank.

Recognizing that additional financing alone will not suffice, AfriCatalyst is also calling for innovative solutions aligned with the continent’s realities and specific circumstances. According to the International Energy Agency (IEA), the required spending needs for low-income and middle-income countries amounts to $6.8 billion, while the continent needs $15-20 billion to reduce energy-related methane emissions by 75% by 2030. Innovative strategies, including increased domestic revenue mobilization, leveraging philanthropic funds, and recycling Special Drawing Rights (SDRs) through multilateral development banks like the African Development Bank (AfDB), could fill the gap.

“Africa is the least risky region to do investment – the default rate for financed projects is only 5.5%, the lowest in the world,” Abdoul Salam Bello, Executive Director for the Africa Group II, at the World Bank Group, observed during the webinar in November. “We need to change the narrative of risk by harnessing digital technologies, exploring concessional funding, and establishing a one-stop shop for all investing instruments.”

Dr. Al-Hamndou Dorsouma, Division Manager, Climate and Green Growth Development at African Development Bank Group, further added, “Last year (2022), the African Development Bank allocated 45% of its budget financing to climate action, and we are committed to meeting the Paris Agreement targets by 2025 through applying greenhouse gas accounting tools to estimate methane emissions reduction from each of our projects.”

In its report, AfriCatalyst envisions the issuance of African Methane Abatement Bonds (AMAB) as a pivotal step towards mobilizing innovative financing to support the formulation and implementation of methane abatement measures outlined in countries’ national plans.

The AMAB framework would also create a private investment vehicle to support African Small and Medium-sized Enterprises (SMEs) and entrepreneurs in developing practices that contribute to methane emission reduction.

Distributed by APO Group on behalf of AfriCatalyst.

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As global power structures shift, Invest Africa convenes The Africa Debate 2026 to redefine partnership in a changing world

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2 days ago

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February 6, 2026

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Debate

The Africa Debate 2026 will provide a platform for this essential, era-defining discussion, convening leaders to explore how Africa and its partners can build more balanced, resilient and sustainable models of cooperation

LONDON, United Kingdom, February 5, 2026/APO Group/ –As African economies assert greater agency in a rapidly evolving global order, Invest Africa (www.InvestAfrica.com) is delighted to announce The Africa Debate 2026, its flagship investment forum, taking place at the historic Guildhall in London on 3 June 2026.

Now in its 12th year, The Africa Debate has established itself as London’s premier platform for African investment dialogue since launching in 2014, convening over 800 global decision-makers annually to shape the future of trade, finance, investment, and development across the continent.

Under the theme “Redefining Partnership: Navigating a World in Transition”, this year’s forum will focus on Africa’s response to global economic realignment with greater agency, ambition and economic sovereignty.

The Africa Debate puts Africa’s priorities at the centre of the conversation, moving beyond traditional narratives to focus on ownership, resilience and long-term value creation.

“Volatility is not new to Africa. What is changing is the opportunity to respond with greater agency and ambition,” says Invest Africa CEO Chantelé Carrington.

“This year’s edition of The Africa Debate asks how we strengthen economic sovereignty — from access to capital and investment to financial and industrial policy — so African economies can take greater ownership of their growth. Success will be defined by how effectively we turn disruption into leverage and partnership into shared value.”

The Africa Debate 2026 will provide a platform for this essential, era-defining discussion, convening leaders to explore how Africa and its partners can build more balanced, resilient and sustainable models of cooperation.

Key challenges driving the debate

Core focus areas for this year’s edition of The Africa Debate include:

This year’s edition of The Africa Debate asks how we strengthen economic sovereignty — from access to capital and investment to financial and industrial policy

Global Realignment & New Partnerships

How shifting geopolitical and economic power structures are reshaping Africa’s global partnerships, trade dynamics and investment landscape.

Financing Africa’s Future

The growing need to reform the global financial architecture, new approaches to development finance, as well as the strengthening of market access and financial resilience of African economies in a changing global system.

Strategic Value Chains

Moving beyond primary exports to build local value chains in critical minerals for the green economy. Also addressing Africa’s energy access gap and mobilising investment in renewable and transitional energy systems.

Digital Transformation & Technology

Unlocking growth in fintech, AI and digital infrastructure to drive productivity, inclusion, and the next phase of Africa’s economic transformation.

The Africa Debate 2026 offers a unique platform for high-level dialogue, deal-making, and strategic engagement. Attendees will gain actionable insights from leading policymakers, investors and business leaders shaping Africa’s economic future, while building strategic partnerships that define the continent’s next growth phase.

Registration is now open (http://apo-opa.co/46b19gj).

Distributed by APO Group on behalf of Invest Africa.

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Zion Adeoye terminated as Chief Executive Officer (CEO) of CLG due to serious personal and professional conduct violations

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2 days ago

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February 6, 2026

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CLG

After a thorough internal and external investigation, along with a disciplinary hearing chaired by Sbongiseni Dube, CLG (https://CLGglobal.com) has made the decision to terminate Zion Adeoye due to serious personal and professional conduct violations. This process adhered to the Code of Good Practice of the Labour Relations Act, ensuring fairness, transparency, and compliance with South African law.

Mr. Adeoye has been held accountable for several serious offenses, including:

  • Making malicious and defamatory statements against colleagues
  • Extortion
  • Intimidation
  • Fraud
  • Misuse of company funds
  • Theft and misappropriation of funds
  • Breach of fiduciary duty
  • Mismanagement

His actions are in direct contradiction to our firm’s core values. We do not approve of attorneys spending time in a Gentleman’s Club. CLG deeply regrets the impact this situation has had on our colleagues and continues to provide full support to those affected.

We want to express our gratitude to those who spoke up and to reassure everyone at the firm of our unwavering commitment to maintaining a respectful workplace. Misconduct of any kind is unacceptable and will be addressed decisively.

We recognize the seriousness of this matter and have referred it to the appropriate law enforcement, regulatory, and legal authorities in Nigeria, Mauritius, and South Africa. We kindly ask that the privacy of the third party involved be respected.

Distributed by APO Group on behalf of CLG.

 

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The International Islamic Trade Finance Corporation (ITFC) Strengthens Partnership with the Republic of Djibouti through US$35 Million Financing Facility

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2 days ago

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February 6, 2026

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ITFC

This facility forms part of the US$600 million, three-year Framework Agreement signed in May 2023 between ITFC and the Republic of Djibouti, reflecting the strong and growing partnership between both parties

JEDDAH, Saudi Arabia, February 5, 2026/APO Group/ –The International Islamic Trade Finance Corporation (ITFC) (https://www.ITFC-IDB.org), a member of the Islamic Development Bank (IsDB) Group, has signed a US$35 million sovereign financing facility with the Republic of Djibouti to support the development of the country’s bunkering services sector and strengthen its position as a strategic regional maritime and trade hub.

The facility was signed at the ITFC Headquarters in Jeddah by Eng. Adeeb Yousuf Al-Aama, Chief Executive Officer of ITFC, and H.E. Ilyas Moussa Dawaleh, Minister of Economy and Finance in charge of Industry of the Republic of Djibouti.

The financing facility is expected to contribute to Djibouti’s economic growth and revenue diversification by reinforcing the competitiveness and attractiveness of the Djibouti Port as a “one-stop port” offering comprehensive vessel-related services. With Red Sea Bunkering (RSB) as the Executing Agency, the facility will support the procurement of refined petroleum products, thus boosting RSB’s bunkering operations, enhancing revenue diversification, and consolidating Djibouti’s role as a key logistics and trading hub in the Horn of Africa and the wider region.

We look forward to deepening this partnership, creating new opportunities, and leveraging collaborative programs to advance key sectors and drive sustainable economic growth

Commenting on the signing, Eng. Adeeb Yousuf Al-Aama, CEO of ITFC, stated:

“This financing reflects ITFC’s continued commitment to supporting Djibouti’s strategic development priorities, particularly in strengthening energy security, port competitiveness, and trade facilitation. We are proud to deepen our partnership with the Republic of Djibouti and contribute to sustainable economic growth and regional integration.”

H.E. Ilyas Moussa Dawaleh, Minister of Economy and Finance in charge of Industry of the Republic of Djibouti, commented: “Today’s signing marks an important milestone in the development of Djibouti’s bunkering services and reflects our strong and valued partnership with ITFC, particularly in the oil and gas sector. This collaboration supports our ambition to position Djibouti as a regional hub for integrated maritime and logistics services. We look forward to deepening this partnership, creating new opportunities, and leveraging collaborative programs to advance key sectors and drive sustainable economic growth.”

This facility forms part of the US$600 million, three-year Framework Agreement signed in May 2023 between ITFC and the Republic of Djibouti, reflecting the strong and growing partnership between both parties.

Since its inception in 2008, ITFC and the Republic of Djibouti have maintained a strong partnership, with a total of US$1.8 billion approved primarily supporting the country’s energy sector and trade development objectives.

Distributed by APO Group on behalf of International Islamic Trade Finance Corporation (ITFC).

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