- Leaders in Madagascar stress African unity in addressing economic challenges and climate change through clean cooking energy.
- The Africa50 meeting seeks $500 million to enhance infrastructure and promote clean energy solutions across the continent.
Madagascar President Andry Rajoelina and Finance Minister Dr Mwigulu Nchemba say African unity is vital for addressing economic challenges, poverty, and climate change. At the shareholders’ meeting for Africa50 and the Africa Infrastructure Forum, Rajoelina emphasised that adopting clean cooking energy can mitigate climate change while creating jobs and improving livelihoods.
The meeting was part of a 12-year initiative to raise $500 million in capital commitments, managed by a team of entrepreneurial executives. The Africa Infrastructure Accelerator Fund (Africa50-IAF) is focused on investing in infrastructure projects that unlock capital in specific countries.
Despite development progress, Rajoelina noted that Madagascar faces high electricity generation costs, which hinder further advancement. He urged African nations to leverage clean cooking energy for economic enhancement and improved living conditions.
Nchemba, representing President Samia Suluhu Hassan, highlighted the initiative’s role in combating climate change and environmental degradation.
He called for investments in public education about the benefits of clean cooking energy and its economic and social advantages. Nchemba appealed to global financial institutions and the private sector to support the initiative, emphasising the need for liquefied petroleum gas (LPG), solar energy, geothermal electricity, and biogas sources.
The forum also highlighted the need for collaboration between governments, private investors, and international financial institutions to advance the clean cooking energy initiative. Participants discussed innovative financing mechanisms and partnerships that could facilitate the development and deployment of renewable energy technologies across Africa.
Rajoelina and Nchemba both underscored the potential for such initiatives to improve energy access and economically empower communities, paving the way for a sustainable future that prioritizes environmental conservation and economic growth.