The EU wants us to invest more in Africa - here's how

Are you looking for renewable energy ventures in Africa? This week, you can shop around to find the right impact businesses to invest in at two virtual EU events.

"We are ready to work together with our African partner countries on these challenges, to improve business climates and unlock huge potential,” says EU Commissioner Frans Timmermans, ANP / Roel Burgler

The ongoing EU-Africa Business Forum is this year focusing on what can be done to accelerate the green transition in the energy sector in Africa. The forum gathers about 2,000 participants from African and European renewable energy companies, regional bodies, public administrations and trade associations.

On 20 and 21 April, the forum hosts a virtual marketplace for African and European green energy projects and 34 public and private partner organisations. Impact businesses and investors get the chance to exchange ideas, explore partnerships and seek funding for green energy projects in Africa.

“Renewable is just smart business”

The EU-Africa Business Forum is organised every three years by the EU, the African Union Commission and African and European business organisations. The idea is to increase opportunities of sustainable economic cooperation between the continents.

“Going for renewables used to be a climate action. Today it’s just smart business!” EU Commissioner responsible for the European Green Deal, Frans Timmermans, said when the event kicked off last Friday.

“The public sector must play a greater role in terms of attracting private investments and in addressing the technology gap. We are ready to work together with our African partner countries on these challenges, to improve business climates and unlock huge potential,” Timmermans continued.

The EU is increasingly encouraging involvement of the private sector in Africa. Through the European External Investment Plan, the Union offers funding in the form of financial guarantees and blended finance.

Exploring new investment pathways

The EU-Africa Business Forum leads up to the EU-Africa Green Investment Forum on 23 April. The event is organised by the European Investment Bank (EIB) and the Portuguese Presidency of the Council of the EU.

This event brings together political and business leaders as well financial institutions and academia. Impact investors get the chance to catch up on policy developments on green investments in Africa, and to better understand how investors can be a part of the green transition.

You can register here to attend the EU-Africa Business Forum on 20-21April.

And here you can register for the EU-Africa Green Investment Forum on 23 April.