Morocco, Senegal, Gabon … Who are the African champions in green finance? “Young Africa.”

As discussions on African debt continue, the African Development Bank (AfDB), in a study published in late January and just released, assessed new growth financing mechanisms related to environmental protection.

Titled Green Growth in Africa, this study, conducted in collaboration with the Global Institute for Green Growth (GGGI), presents a map of countries according to their level of progress in green projects (renewable energy, eco-industrial parks, etc.). It identifies the pioneers of green growth and, above all, climate finance.

  • Kenya and Rwanda, two great leaders

Among those that stand out is Kenya, whose leadership in green growth is driven by effective institutional change. Rwanda, which has raised $ 160 million through Fonerwa, a fund that directs, disburses and monitors environmental and climate finance, demonstrates that green growth funding can be stimulated through a climate change mechanism.

Although job creation in the so-called green sectors is not systematically monitored at the national level, Fonerwa estimates that this has contributed to the creation of 144,858 of them, according to an AfDB report.

  • Morocco, Tunisia and the share of renewable energy

The study notes that, like Tunisia, Morocco has achieved 100% access to electricity, which means relatively high per capita consumption in these two countries.

Gabon, where high electricity consumption comes from wealthy urban dwellers (40% of the rural population do not have access to electricity), is also in this category. In Gabon, Kenya, Rwanda and Mozambique, the share of renewable energy sources in electricity generation is high (60% to 90%) due to the weight of hydropower.

It is noted that Ethiopia, which is trying to lay the foundations of green industry through an eco-industrial park, is also a pioneer in financing green growth. Thanks to good land management practices, the country has reversed its vegetation degradation curve, which rose from 5% in 2010 to 13% or 15% in three years. That’s about $ 27 billion, or $ 520 million at current exchange rates.

Ethiopia’s experience shows that successful green growth depends in part on the adoption and adherence to the local planning process. In Tunisia, an innovative financing mechanism has yielded convincing results in the solar water heater sector through the Prosol program, which aims to combat deforestation.

The financial mechanism Prosol was launched in 2005-2009 with the aim of installing 300 thousand m2 of solar collectors for the development of the market of water heaters in the residential sector.

  • Combating deforestation: Gabonese label

Finally, both Gabon and Mozambique are models in the fight against deforestation to ensure green growth. The abolition of logging on 1.3 million hectares, including reserves and national parks, as well as a ban on the export of unprocessed timber led to a 50% drop in logging.

Covered by 98% of tropical forests, the country, which harvested 3.5 million cubic meters of wood a year fifteen years ago, lowered that threshold to 1.5 million m3. Libreville also called on all forestry companies present in its territory to comply with the requirements of the Forest Stewardship Council (FSC), a brand that promotes sustainable forest management.