The need for more funding of environmental projects in Africa is driving Orla Enright to start the first exchange dedicated to green bonds on the continent.
The startup is driven by a mission to address the challenges of climate change and propel Africa towards a more sustainable future.
“My mission is to channel capital into sustainable projects that protect our planet and uplift communities,” Orla says.
“By bridging the gap between capital and climate action, I aim to accelerate Africa’s transition to a net-zero economy while providing businesses with the affordable financing they need to thrive,” she adds.
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Orla established the Green Exchange – the first of its kind on the continent – that enables companies to issue billions in green bonds and for investors to trade the debt in a secondary market.
The Green Exchange has a listing in Ghana and plans Nigeria’s listing soon to fund turbines, electric vehicle charging stations, sustainable housing, solar panel installations and companies that want to reinvent their operations to become green-compliant.
“While other emerging markets are embracing these instruments such as Latin America and Asia, Africa is lagging. I recognized a huge opportunity to create a platform where African businesses could access affordable financing to scale their operations while contributing to a greener future,” she notes.
“By developing a thriving market for green bonds, we can help Africa achieve its climate goals and unlock its economic potential,” she adds.
To ensure that businesses that use the Green Exchange platform in issuing green bonds reduce their carbon footprint, Orla says that platforms like theirs employ mechanisms – strict eligibility criteria, third-party verification and rigorous performance monitoring to ensure compliance.
Speaking on how the Green Exchange will help drive Africa’s climate resilience and food security, the young entrepreneur says the platform will be a vital channel to bring global financing to the continent to finance sustainable projects.
She explains that the current high interest rates across the continent hinder businesses in Africa, noting it as part of her inspiration to provide affordable financing options for organisations.
“I believe that by providing access to lower-interest loans, especially through green bonds, African companies can scale faster, become more competitive, and contribute meaningfully to a sustainable future. I’m determined to revolutionise the financial landscape for African businesses.”
Orla notes that the platform plans to launch in Nigeria in the short run and is currently in the final stages of clearing regulatory hurdles. She describes Nigeria as the epicentre of the Green Exchange while noting the high level of optimism in its potential.
“It is a booming market with fantastic entrepreneurial individuals driving its growth. While we envision a pan-business, with our sights set on countries like Kenya, South Africa, Egypt, and Côte d’Ivoire, Nigeria is our current focal point. It’s a thriving market brimming with opportunities.”
On the major challenges the platform has faced since its Ghana launch, Orla says convincing businesses about the benefits of green financing has been a major challenge.
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In tackling the issue, the young entrepreneur notes that the platform shows how issuing green bonds can enhance their core business and not hinder it.
“By accessing new capital for sustainable projects, they can expand their operations, improve their reputation, and contribute to a greener future. It’s about demonstrating how green finance is a win-win,” she says.
In analysing the Nigerian climate finance market and where opportunities lie for investors, Orla says there is a plethora of development funds championing energy projects across Africa, adding that the Nigerian landscape is a very fertile ground for investments.
“By embracing electric vehicles and other clean energy solutions, we can significantly reduce costs and improve the overall energy landscape. It’s a win-win for both the environment and the economy,” she notes.
