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Inside Africa’s Green Economy: Kevin Munjal on What’s Coming Next

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Kevin Munjal, Director of Development Impact at FSD Africa, highlights the potential for up to 84.5 million green jobs in Africa by 2050 if capital flows to service-led value chains, regulations are enforced, and skills systems modernised

CAPE TOWN, South Africa, July 30, 2026/APO Group/ —Exclusive interview with Kevin Munjal, Director, Development Impact at FSD Africa, which recently published a report on “Unlocking Africa’s Green Transition: Opportunities Towards a Green and Inclusive Workforce (https://apo-opa.co/4yMIbJt)” in partnership with Shell Foundation. It contains highly relevant insights for stakeholders working on Africa’s green transition and related human capital challenges.  

Interview Summary:
Kevin Munjal, Director of Development Impact at FSD Africa, highlights the potential for up to 84.5 million green jobs in Africa by 2050 if capital flows to service-led value chains, regulations are enforced, and skills systems modernised. He stresses vocational training models with guaranteed income pathways, innovative financing that embeds workforce development into green infrastructure, and mobile-based social protection for informal workers.

Gender equity requires targeted interventions across both formal and informal economies. Clean cooking and waste recycling are identified as transformative sectors, while national strategies must reflect distinct labour market structures in Nigeria, South Africa and Kenya.

Let’s start with some background on you and the work that you do for FSD Africa. Where in Africa are you active?
My name is Kevin Munjal, I’m the Director of Development Impact at FSD Africa. FSD Africa is a specialist development agency deploying financial and non-financial instruments to strengthen Africa’s financial sector to enable the continent to mobilise sustainable capital at scale for financing of its development needs. We currently have a presence in over 30 countries.

As Director of Development Impact, I oversee the body of work that helps FSD Africa understand the effectiveness of its financial sector development strategies. Together with my team, we help craft and test hypotheses, generating data and insights that inform stronger programming.

I also oversee a growing portfolio of work on green skills and jobs, advocating for climate financing strategies that enable a just green transition in Africa.

The recently published FSD Africa report projects up to 84.5 million green jobs by 2050. What policy choices are most critical to ensure Africa reaches the high scenario outcome rather than falling short?
The gap between the low and high scenarios, 18 million jobs by 2050,  comes down to three things: where capital is directed, whether regulations are enforced, and whether skills systems keep pace with deployment.

On capital, the high scenario requires finance to flow toward service-led value chains like clean cooking, solar home systems, waste recycling, e-mobility, rather than concentrating in utility-scale infrastructure. These service chains generate more jobs per dollar and reach more people.

On regulation, the gap between policy intent and market reality is enormous. Thirteen African countries have published e-mobility strategies, but very few have operational enforcement frameworks. Clean cooking targets appear in only 45% of African NDCs.

On skills, the training systems that exist are largely calibrated to legacy technologies. There are no national training programmes for IoT-enabled remote operations, battery management system governance, or carbon measurement and verification in any of the three countries we studied.

How can African governments and industry rapidly scale vocational training and skills systems to meet demand?
Africa’s renewable energy workforce is around 324,000 people—just 2% of the global total—despite the continent holding 60% of the world’s best solar resources. That gap cannot be closed through the formal TVET system alone, which is too slow to reform and too geographically fixed to reach the workers who need it most.

The most effective approaches we’ve seen share a common design principle: train for a specific job with a guaranteed income pathway. The Rural Electrification Agency’s NextGen model in Nigeria—bootcamp training paired with a nine-month paid internship—is a strong example. South Africa’s Grootbos Green Futures programme places 90% of its trainees into roles in the local restoration economy.

Beyond individual programmes, three instruments can scale quickly without new legislation. Recognition of prior learning, embedding green skills modules into existing qualifications rather than creating standalone credentials, and making industrial apprenticeships paid, which has been shown to dramatically improve female retention.

Less than 1% of climate finance currently goes to skills development. What innovative financing mechanisms could redirect capital towards workforce training?
Less than 1% of climate finance currently goes to skills development. While “Jobs created” is the standard metric for investors, it tells you nothing about whether those jobs are decent, skilled, or sustainable.

The first shift needed is to embed workforce development criteria directly into green infrastructure financing. If a DFI is deploying capital into a solar project, a defined share of that deployment should be earmarked for training. Gender inclusion criteria should also be part of the deal terms.

To move beyond grants, need to identify how the underlying assets of a green investment can innovatively finance the skilling of workers. For instance, can a portion of the carbon revenue generated by a green investment be used to finance skilling, In principle, more private finance needs to be directed to the skilling agenda if it is to be sustainable, hence the need to find financing models that can enable this.

The report warns that 86% of green jobs in 2030 will be informal. How can stakeholders extend social protection and career pathways to informal workers, especially women and youth?
By 2030, 86% of green jobs will be informal. That is not a problem to solve for, it is the structure of Africa’s green economy, and any serious strategy has to work within it rather than around it.

Three instruments matter most. Mobile-based social protection, linked to the digital payment platforms that African workers already use, can extend access to health insurance, accident cover, and pensions for self-employed green workers.

Our research is very clear that there is no single African green transition, and a continental template would miss the mark badly

Portable digital credentials, verified through employer records and accessible on basic mobile devices, allow workers to build a recognised skills profile that travels with them across employers and markets. For young people in particular, this converts informal experience into a career asset.

Finally, giving micro-distributors access to working capital and trade finance allows nano and micro-enterprises to build the enterprise performance records that financial institutions need to extend credit. This is how you move someone from a survivalist activity to a sustainable livelihood.

Staying with women, they are concentrated in lower value, commission-based roles. What targeted interventions could ensure gender equity and progression opportunities in the green economy?
Women are projected to hold 31% of green jobs by 2030 and 44% by 2050. That sounds positive until you look at where those jobs are concentrated—the lowest-value, most informal, commission-based roles, with no contract, no social protection, and no progression pathway.

The barriers are structural and well-documented. Safety and mobility issues prevent women from taking on remote or overnight technical assignments. Women’s care burdens conflict with the rigid schedules of higher-tier roles. Gaps in certification and field placement mean that women who complete technical training often cannot convert it into employment.

The most effective interventions address these simultaneously rather than one at a time.

In South Africa, where the green economy is highly formalised, the levers are procurement standards, worksite infrastructure and embedding these into financing conditionalities so they become institutional expectations rather than voluntary practice.

In Nigeria and Kenya, where growth is happening through informal channels, the priority is expanding women’s access to distribution roles and providing working capital for women-led enterprises through catalytic finance instruments.

Gender covenants in DFI financing, specifying targets by value chain and tracking women in technical and management roles, are the accountability mechanism that makes all of this stick.

Africa’s transition is mainly driven by service-led industries. In your view, which of these sectors are most transformative for inclusive job creation?
Clean cooking stands out. By 2030, it is projected to be the largest green value chain on the continent generating between 1.4 and 2.5 million jobs through micro-distributors, maintenance technicians, and community agents. By 2050, clean cooking employment is projected to grow more than tenfold. The majority of customers are women, which means effective distribution requires women as agents, and the sector is approaching gender parity in our high-scenario projections.

Waste recycling is the other sector I’d highlight. It has the highest accessibility rates for low-income workers, around 72%, and the regulatory frameworks to drive formalisation are already in place in South Africa, Kenya, and increasingly Nigeria. South Africa’s Extended Producer Responsibility regime has already created over 24,000 formal jobs since 2022.

The common thread in both sectors is that employment is driven by service delivery at scale with millions of household connections and collections, not a handful of large construction projects. That is precisely what makes them transformative: the jobs are distributed, the barriers to entry are low, and the potential to reach workers who have been structurally excluded from the formal economy is real.

The report highlights differences across Nigeria, South Africa and Kenya. How should national strategies be tailored to reflect these distinct labour market structures and enabling conditions?
Our research is very clear that there is no single African green transition, and a continental template would miss the mark badly.

Nigeria’s transition is 87% informal and dominated by nano-enterprises. Mandating formalisation will not work at the scale and speed the sector requires. The priority is improving job quality within informal systems—portable credentials, mobile social protection, quality standards within agent networks—while expanding the sectors where women are better represented, like climate-smart agriculture.

South Africa’s transition is 70% formal, shaped by regulated procurement frameworks and the most capitalised just transition plan on the continent. The challenge here is not reaching informal workers; it is reforming conditions within formal systems, particularly the occupational segregation that keeps women’s participation stagnant at around 25%, and ensuring that the shift from construction-phase to operations and maintenance roles translates into improved incomes.

Kenya occupies a middle ground—a renewable electricity system already operational, an emerging e-mobility sector anchored by the continent’s most mature mobile money infrastructure, and a devolved governance structure that requires green skills to be integrated at the county level if employment benefits are to reach workers where deployment is actually occurring.

FSD Africa is launching the Green Jobs Innovation Hub. What role do you envision this initiative playing in bridging the gap between investment in infrastructure and investment in human capital?
The hub is a direct response to the coordination failure that sits at the heart of this problem. Training institutions cannot invest in green skills without demand signals from employers. Employers cannot plan workforces without deployment pipelines. DFIs cannot condition financing on workforce outcomes without data on what those outcomes should look like. And governments cannot sequence skills expenditure without occupation-level employment projections. Everyone is waiting for someone else to move first.

The Green Jobs Innovation Hub is designed to break that deadlock by bringing these actors together around shared data, shared standards, and shared investment. Concretely, The Hub works to unlock financing models that close the workforce investment gap—ensuring that capital flows alongside green infrastructure investment.

Any final thoughts from your side?
The most important thing I want to emphasise is that Africa’s green transition is not primarily a story about solar panels and megawatts. It is a story about millions of micro-distributors, maintenance technicians, waste sorters, and community agents, people who are already doing this work, largely informally, largely without recognition, and largely without protection.

We also have the data now. We know which value chains will generate the most jobs, we know who those jobs will reach, and we know what is preventing more people from accessing better ones.

Therefore, we should stop separating the infrastructure conversation from the human capital conversation. They are the same investment. And until we finance them that way, we will keep building green infrastructure that imports its skills and perpetuates the same development challenges we’ve seen over the years.

Distributed by APO Group on behalf of VUKA Group.

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Afreximbank Announces Speakers for Africa’s Largest Compliance Forum

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Bankers, compliance specialists and fintech leaders from more than 40 countries will explore how regulatory cooperation and technology can align compliance approaches, reduce barriers and advance intra-African and global trade

CAIRO, Egypt, November 3, 2026/APO Group/ –Afreximbank (www.Afreximbank.com) has announced speakers for its 2026 Compliance Forum, Africa’s largest compliance-focused gathering. Discussions will address regulatory fragmentation and barriers across Africa, improve access to correspondent banking services, and explore how technology can strengthen compliance and facilitate cross-border trade

 




  

Organised in partnership with the Botswana Investment and Trade Centre (BITC), the Forum will take place from 16 to 18 November 2026 at the Gaborone International Convention Centre in Botswana. Discussions will focus on strengthening regulatory cooperation, improving access to financial services and using technology to support effective compliance across African markets.

Confirmed speakers include Governor Lesego Caster Moseki, Bank of Botswana, Dr. Patrick Ndzana Olomo, Ag. Director, Economic Development, Integration and Trade, and Head of Economic Policy and Sustainable Development, African Union Commission (AUC), Luis Koberg, Founder and CEO of Klearium Group; Shane Ridel, CEO of Elucidate, Sophie Barre, Global Head of Risk and Compliance at Wave Mobile Money Group; Mr Mooketsi Ramanteba, Non-Bank Financial Institutions Regulatory Authority (NBFIRA), Nellie Nuyoni, Head of Private Sector, CBZ Holdings, Moira Mapundu, Head of Compliance, NMB Bank Limited and Boitumelo William of Continental Reinsurance. Compliance specialists from Dow Jones and Standard Chartered will also participate.

Mr Keletsositse Olebile, Chief Executive Officer of the Botswana Investment and Trade Centre, said: “Strong and predictable compliance systems build investor confidence, protect institutions, and create the conditions in which trade and enterprise can flourish.”

Under the theme “Better Compliance – Better Trade: Leveraging Compliance to Promote African Regulations that Advance Intra-African Economic and Trade Integration,” the Forum will examine how African markets can make their regulatory systems work more effectively together while preserving national sovereignty.

Idrissa Diop, Compliance Director at Afreximbank, said: “Our banks across Africa operate across very different legal systems, supervisory approaches and levels of digital maturity. Africa does not need uniformity at any cost. It needs interoperability that reduces friction while preserving regulatory sovereignty.

Our banks across Africa operate across very different legal systems, supervisory approaches and levels of digital maturity

“We invite regulators, compliance specialists, banks, fintechs, trade institutions and technology providers from across the continent to come to Gaborone ready to turn shared principles into practical cooperation, because better compliance can and should deliver better trade for Africa.”

The opening session, “Is Better Compliance Leading to Better Trade?”, will assess how regulatory cooperation can facilitate cross-border business. Other sessions will cover anti-money laundering and countering the financing of terrorism, sanctions, cybersecurity, consumer protection and the use of artificial intelligence in compliance.

Access to correspondent banking services will be a key focus. Luis Koberg, Founder and CEO of Klearium Group, said: “Many African banks continue to face barriers to accessing correspondent banking services. The reasons given often overlook a fundamental challenge: limited visibility across the payment chain. Improved transparency gives our industry the ability to accurately assess and manage risk, on a case-by-case basis with confidence.”

Delegates will also examine how fintech and risk-based onboarding can extend access to affordable financial services while meeting compliance requirements.

Sophie Barre, Global Head of Risk and Compliance at Wave Mobile Money Group, said: “Fintechs are rewriting the rules of financial inclusion and efficiency. By combining world-class technology with intelligent, risk-based onboarding, they can deliver affordable, simple and reliable services within a compliant ecosystem.”

The Compliance Forum will also feature an exhibition of AI-enabled anti-money laundering and counter-terrorist financing compliance systems. These demonstrations will let delegates engage with emerging technologies that can strengthen risk detection, monitoring, and reporting.

This Forum comes as artificial intelligence, automation, cybersecurity, third-party risk and diverging regulatory requirements place new demands on financial institutions. These developments reinforce the need for compliance approaches that reflect Africa’s regulatory, economic and institutional realities while drawing on global good practices.

ACF2026 will provide a platform for stakeholders to redefine compliance strategies for a changing financial environment and develop practical approaches that protect institutions while enabling more efficient movement of capital, goods and services across African borders.

For programme details and registration, visit ACF2026 (https://apo-opa.co/4iVtopG)

Distributed by APO Group on behalf of Afreximbank.

 




 

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Gas Exporting Countries Forum (GECF) Leadership Roundtable Brings Gas Producer Coordination to Paris

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As African gas producers navigate rising domestic demand, global LNG competition and a renewed push for investment, the GECF Leadership Roundtable at the Invest in African Energy 2027 Forum will examine how greater coordination can support project development, market access and long-term gas monetization

PARIS, France, November 3, 2026/APO Group/ –Africa’s gas industry is entering a period in which cooperation between producing countries could become increasingly important. Demand is rising, LNG markets are being reshaped by geopolitical disruptions and new supply, while major gas developments across the continent continue to compete for capital.

 




  

Against this backdrop, the GECF Leadership Roundtable at the Invest in African Energy (IAE) Forum 2027 in Paris will bring the perspectives of gas-producing countries into a discussion focused on the commercial and strategic priorities shaping the sector.

The session comes as Africa continues to expand its role in global LNG markets. The GECF forecasts LNG exports from the continent to reach about 110 billion cubic meters (bcm), or 80 million tons per annum (mtpa), by 2030, rising to 215 bcm, or 160 mtpa, by 2050. The outlook spans producers including Algeria, Angola, Egypt, Equatorial Guinea, Mozambique, Mauritania, Senegal and Nigeria, while GECF projections point to growing LNG trade with Asia and within African markets.

Recent developments have reinforced the strategic value of that supply base. Tanzania’s long-delayed $42 billion LNG project has gained renewed attention as disruptions to Middle Eastern gas supplies have increased the value of diversified LNG sources, while ExxonMobil is advancing preparations for Mozambique’s Rovuma LNG project after years of delay.

For African producers, however, expanding exports is only one part of the equation. Domestic gas demand is rising at the same time that governments are seeking to use gas to improve electricity supply, support industrial development and create new revenue streams. That creates a need to balance export projects with domestic offtake, pipeline infrastructure, gas processing and gas-to-power development.

Coordination between producing countries can help address some of these challenges. Sharing experience on fiscal frameworks, project development, infrastructure and market access can help governments compete for investment while strengthening the case for regional gas infrastructure and cross-border trade.

The global market is also becoming more competitive. Reuters reported this month that gas and LNG infrastructure investment is expanding across multiple regions, with Asia accounting for the largest share of planned LNG import capacity. At the same time, disruptions to Middle Eastern supply have reinforced concerns around security of supply and increased the strategic importance of alternative producers. That creates an opening for African gas producers, but converting that opportunity into projects will require capital, infrastructure and credible long-term markets.

The GECF Leadership Roundtable at IAE 2027, taking place in Paris from May 11-13, will provide a senior-level setting to examine those issues alongside the investors and project developers needed to advance them. The wider forum is designed to connect African energy markets with global capital, with a focus on projects spanning gas, LNG, infrastructure and power.

For African gas producers, the question is how effectively its resources can be developed, connected to markets and converted into reliable energy and industrial growth. The Paris roundtable will put producer coordination at the center of that investment conversation.

Distributed by APO Group on behalf of Energy Capital & Power.

 

 




 

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Islamic Corporation for the Development of the Private Sector (ICD) and Open Bank Sign Expression of Intent for a Potential USD 10 Million Line of Financing in Uzbekistan

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The EoI sets out the intent to establish a Shariah-compliant LoF facility of up to USD 10 million from ICD to Open Bank to be deployed for the onward financing of eligible private sector projects, including small and medium-sized enterprises (SMEs) and corporates operating in the Republic of Uzbekistan

JEDDAH, Saudi Arabia, November 1, 2026/APO Group/ –
  • ICD and JSC Open Bank (Uzbekistan) have signed an Expression of Intent for a potential Shariah-compliant Line of Financing facility of up to USD 10 million
  • The facility aims to channel funds to eligible private sector projects, including SMEs and corporates across Uzbekistan
  • The potential Line of Financing facility intends to support job creation and SME growth, contributing to broader economic development in Uzbekistan
  • Open Bank, a privately owned digital bank licensed by the Central Bank of Uzbekistan, will serve as the intermediary institution to channel the funds to private enterprises

 




 
 

The Islamic Corporation for the Development of the Private Sector (ICD) (www.ICD-PS.org), the private sector arm of the Islamic Development Bank (IsDB) Group, and Joint Stock Company “Open Bank” (Open Bank) from Uzbekistan have signed an Expression of Intent (EoI) in Jeddah, Saudi Arabia, on 26 October 2026, for a potential Shariah-compliant Line of Financing (LoF) facility of up to USD 10 million, aimed at supporting eligible private sector projects in the Republic of Uzbekistan.

The EoI sets out the intent to establish a Shariah-compliant LoF facility of up to USD 10 million from ICD to Open Bank to be deployed for the onward financing of eligible private sector projects, including small and medium-sized enterprises (SMEs) and corporates operating in the Republic of Uzbekistan. The facility is designed to ensure that financing reaches productive segments of the economy in a manner consistent with Shariah principles and in line with the development objectives of ICD and Uzbekistan.

The intended facility reflects ICD’s commitment to expanding access to Shariah-compliant financial services in Central Asia. By working through Open Bank, a digitally oriented institution with a focus on retail and SME customers, the proposed LoF aims to direct resources toward businesses that can generate meaningful employment opportunities and contribute to sustainable economic growth in Uzbekistan. SME support of this nature plays an important role in strengthening the private sector and broadening economic participation across the country.

ICD’s development mandate centers on advancing private sector growth and improving livelihoods in its member countries through Shariah-compliant financing solutions. The intended LoF with Open Bank aims to contribute to job creation and SME support in Uzbekistan, outcomes that align with ICD’s broader objective of fostering inclusive and sustainable economic development across the IsDB Group’s member countries.

Distributed by APO Group on behalf of Islamic Corporation for the Development of the Private Sector (ICD).

 




 

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