AFRICA: Start-up Igugu Global launches “Angel Investment” for green finance

By - Published on / Modified on

AFRICA: Start-up Igugu Global launches "Angel Investment" for green finance © Igugu Global

Enabling investors to discover and compare green financial instruments is the aim of the new "Angel Investment" platform launched by the South African company Igugu Global. The initiative aims to accelerate climate finance in Africa.

Faced with drought that accelerates land degradation and floods that affect the resources of many people on the African continent, the South African start-up Igugu Global is launching “Angel Investment”, a platform focused on promoting green investments.  The initiative, which already includes 1,000 companies across Africa, is designed to help portfolio managers benchmark the environmental risks of their activities and climate-related investment opportunities.

According to the founder of Igugu Global, it is a fintech tool that provides African companies with data to contribute to the transition to a low carbon economy. “Currently, less than 2% of African companies are engaged in climate finance.  The global green finance market has surpassed $1.6 trillion in bond issuance, but only $5.4 billion of that is for Africa,” says Anele Makhwaza.

Read also-AFRICA: Standard Chartered launches « ANCA » to promote the green economy

Other green finance initiatives have also emerged in recent months. One such initiative is the African Natural Capital Alliance (ANCA) recently launched by the British bank Standard Chartered. In partnership with the United Nations Economic Commission for Africa (UNECA), the platform aims to mobilise $300 billion by 2030 to provide clean energy to 1 billion people on the continent. The project will be implemented with the support of Fund Sector Deepening (FSD) Africa, a UK-funded financial sector development agency based in Nairobi, Kenya.

Benoit-Ivan Wansi

More on the same theme

More on the same area

We respect your privacy

When you browse on this site, cookies and other technologies collect data to enhance your experience and personalize the content you see. Visit our Privacy Policy to learn more. By clicking "Accept", you agree to this use of cookies and data.

Newsletter AFRIK 21