African countries remain the most vulnerable in the world to climate change, including natural disasters, drought, extreme heat, famine, and flooding.
At the same time, as one of the fastest-growing and urbanizing continents, Africa is uniquely positioned to pursue low-carbon, resilient growth.
Even though climate finance in Africa grew nearly 50% in just two years, reaching USD 43.7 billion , it still falls far short of what’s needed. The continent requires approximately USD 190 billion per year, indicating a gap of over USD 146 billion annually.
To achieve sustainable and inclusive growth, Africa requires innovative business models that attract investors and facilitate a transition to low-carbon, climate-resilient development, with a focus on clean energy, sustainable agriculture, greener cities, and opportunities for youth and women.
With support from the German Federal Ministry for Economic Affairs and Energy , The Lab is looking for bold, scalable ideas that can drive climate mitigation efforts across Africa. These solutions should leverage financial innovation, blended finance, and private sector engagement to accelerate the transition to low-carbon, resilient economies.