News Investigators/ The United Nations Development Fund (UNDP) says it has completed Sustainable Development Goal (SDG) Investor Maps in nine African countries.
UNDP’s Deputy Assistant Administrator and Officer-in-Charge, Regional Bureau for Arab States, Sarah Poole said this at a virtual event on Tuesday.
The event, organised by UNDP and African Development Bank (AfDB), was tagged “Africa Continental Investor Convening: Partnering for SDG Investments in the Green & Blue Economy in Pursuit of Agenda 2063.”
The SDG Investor Map is a market intelligence product produced by UNDP Country Offices and partners to help private investors (funds, financiers, corporations), identify investment opportunities and business models that have significant potential to advance the SDGs.
The aim of the map is to provide investors with actionable data and insights to enable them use their capital for good, while making a financial profit.
UNDP, thereby, helps to contribute to filling the SDG-financing gap by directing private capital to where it can most make a difference to people and the planet.
Ms. Poole said UNDP was finalising such investor maps in another six African countries.
She said that in Sub-Saharan Africa, the investor maps had been completed in Ghana, Kenya, Namibia, Nigeria, Rwanda, South Africa, Uganda, Djibouti and Mauritius.
Ms. Poole said that Eswatini, Gabon, Malawi, The Gambia, Tanzania, Morocco and Tunisia were currently preparing for or developing their SDG Investor Maps.
She said that increased investment in the blue and green economy would help improve the livelihoods of all African people.
“As of today in Africa, UNDP has completed SDG investor maps in nine countries while finalising such maps in another six countries and we are keen to support more countries who are interested in this initiative.
“African SDG investor map identified 245 investment opportunities, half of which are geared towards the blue and green economy.
“The focus of today’s event is where there is immense opportunity in the energy transport, agriculture and forestry, as well as in fisheries and marine resources.
“We are excited to showcase a sample of the investment opportunities identified through our African SDG investor map at today’s event.
“And we look forward to the contributions from our spotlight countries, Djibouti, Mauritius and Nigeria, with many thanks to the national counterparts present here as they demonstrate how their countries are ready for SDG investments,” she said.
Poole further said the panel would discuss how private and public institutions could support the acceleration of investments in the green and blue economy, drawing country examples and capitalising on regional integration opportunities.
The UNDP representative added that it would be particularly in the African Continental Free Trade Agreement (AfCFTA).
“The panel would showcase how the Japanese private sector can help realise the African investment opportunities and the role that government and development partners can play in guiding private capital to where it can make a greater difference for people and for planet,” she said.
Also speaking, Wale Shonibare, Director for Energy Financial Solutions, Policy and Regulation, AfDB, said that AfCFTA, as a great enabler, should be taken advantage of and that regional trade would drive African economies going forward.
“The energy sector requires robust and coordinated interventions. So, things like the continental master plan will be very key.
“We need an integrated and competitive African electricity market, and also the work of the various development finance institutions, such as the AfDB, and others.
“We all need to work together to create synergies for maximum impact,” Mr. Shonibare said. (NAN)