Afreximbank calls for Africa’s sustainable development, industrialisation

At the ongoing 2025 United Nations Climate Change Conference (COP30) in Belem, Brazil, African Export-Import Bank (Afreximbank) is strategically advocating for a climate agenda that aligns with Africa’s sustainable development and industrialisation ambitions as outlined by its President, George Elombi.

The Bank’s delegation is advocating for a pan-African climate narrative that builds on the outcomes of the African Climate Summits and previous COPs. Afreximbank’s engagements are anchored on the core principles of the AU Agenda 2063: The Africa We Want, and emphasises the critical role of the African Continental Free Trade Area (AfCFTA) in building climate-resilient economies.

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A central pillar of the Bank’s advocacy involves mobilising climate finance primarily to support adaptation aspirations of its member countries and ensuring the swift and effective operationalisation of the Loss and Damage Fund. The Bank is also pushing for African countries, who are disproportionately affected by climate events despite contributing less than 4 percent of global emissions, to receive adequate compensation and to develop the necessary domestic structures to access these funds.

Aligned with President George Elombi’s vision, Afreximbank is spotlighting the continent’s immense potential in value addition and strategic minerals processing. Instead of exporting raw materials, the Bank is championing financing for entire value chains, such as transforming the Democratic Republic of Congo’s lithium into batteries, to position Africa as a hub for clean technology and create high-skilled jobs.

The Bank is also urging for a just and equitable energy transition that recognis0es Africa’s right to address its energy poverty, which leaves over 600 million people without electricity. This includes a balanced approach that integrates renewable energy sources while responsibly utilising transitional fuels like natural gas to power industrialisation.1¹ of climate change.

Furthermore, Afreximbank is showcasing its financial initiatives, such as the Afreximbank Trade Transformation Fund (ATTF) as one of its key vehicles for de-risking and financing green projects across the continent.

At COP30, the Bank’s participation includes high-level dialogues, thematic panels, and side events, including activities at the African Pavilion and a planned session with Liberia on establishing a carbon markets authority.

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Commenting on Afreximbank’s participation at COP30, Kanayo Awani, executive vice president, Intra-African Trade and Export Development Bank at Afreximbank, stated:
“Our mission at COP30 is clear: to ensure that Africa’s voice is not only heard but heeded. Our approach is one of proactive transformation, adding value to our abundant minerals, powering our industries with a sustainable energy mix, and leveraging the AfCFTA to build resilient, integrated economies. We are leveraging our influence to mobilise Global African capital and demand a globally recognised and supported framework for our continent’s just energy transition that ensures comprehensive climate action actively serves and reinforces Africa’s ambitions for development and industrialisation.”