Why Climate Finance in Africa Must Shift from Foreign Debt to Sovereign Equity
ESI Africa reports that African nations do not need a higher volume of international capital so much as they need a fundamental restructuring of how funding reaches the continent. For 16 years, sittin
Why Climate Finance in Africa Must Shift from Foreign Debt to Sovereign Equity
ESI Africa reports that African nations do not need a higher volume of international capital so much as they need a fundamental restructuring of how funding reaches the continent. For 16 years, sitting across tables from government ministers in Abuja and community leaders in Uyo, I have seen standard international aid mechanisms fail our communities. The debate surrounding climate finance in Africa has focused on multi-billion-dollar pledges while ignoring the structural trap of dollar-denominated debt. When foreign lenders issue sovereign loans for clean energy projects, currency devaluation turns
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Written by Elkanah Oluyori
Director, Clement Isong Foundation Β· Uyo, Akwa Ibom State, Nigeria
Elkanah leads Clement Isong Foundation with 16+ years of experience in green economy development, climate justice, and civic technology in Akwa Ibom State and Nigeria. He is the founder of GreenAccelerators, Nigeria's first green economy opportunity portal.
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