Connect with us
Innopower banner Ad

NGOs - SDGs

Wildu du Plessis: Commitment to sustainability opening doors to post-pandemic capital in Africa

Published

on

Wildu du Plessis, Head of Africa, Baker McKenzie (Image source: Baker McKenzie)

The industrials, manufacturing and transport (IMT) sector is being hit hard by COVID-19 disruption, but commitment to sustainability could very well lead the sector to recovery. This is according to Baker McKenzie’s report “Sustainable Success: Exploring environmental, social and governance priorities for industrials through COVID-19 and beyond” which revealed that industrialshave taken great leaps forward in relation to environmental, social and governance matters (ESG) in the past decade.  The report outlines how CEOs in the sector have signed up to a new holistic definition of company purpose and most public companies now report on ESG goals. Access to funding is also becoming intricately linked to a commitment to ESG principles, with industrials looking at sustainability initiatives as a way to source capital for projects in Africa.

According to the report, the economic challenges and the huge changes that have turned the world upside down in 2020 cannot be ignored, but the fundamental imperative to embed and prioritise ESG remains — and is arguably more important than ever as the fragility of the world’s current systems and norms is revealed.

The report found that sustainability can be used as a lever of recovery and competitive advantage, where companies proactively consider ESG issues as part of their COVID-19 response and decision-making. Connecting sustainability and business models more closely offers industrials the opportunity to reimagine supply chains, production and revenue streams — the basis for long-term reinvention and success. As such, sustainability is set to be a powerful guiding principle of COVID-19 recovery and a source of advantage for IMT companies. In the fight for post-pandemic capital in Africa, embracing sustainability provides a valuable edge for African industrials. Funding in some areas is already contingent on meeting certain global ESG standards and other investors have followed this lead — requiring documented, planned policies and processes in relation to ESG before investing

Access to capital will be critical to corporate recovery and in ensuring that key industrial and infrastructure projects in Africa can continue. Africa’s leaders have been assessing how best to mobilise capital from local savings pools, shore up development finance from various development finance institutions like the International Finance Corporation, the International Monetary Fund, and the World Bank, and direct capital raised via green bonds towards qualifying projects. 

The market for green and sustainable bonds is set to expand further in the coming years and industrials in Africa are likely beneficiaries of the capital raised. The African Development Bank (AfDB) Green Bond programme, for example, facilitates the bank’s green growth policy by providing capital for eligible climate change projects. Investors are able to finance climate change initiatives via green bonds, which is then allocated to eligible projects.

Green bonds are gaining in popularity across Africa and the larger economies of sub-Saharan Africa have all embraced this.  In 2019, Kenya set up the legal framework and rules for the launch of its first green bond on the Nairobi Securities Exchange,  with the aim of raising capital for green transport, water and energy infrastructure projects in the country. The country announced in 2020 that it planned to issue its first diaspora bond for green infrastructure projects this year, so that Kenyans living abroad could be given the opportunity to participate in the country’s post pandemic recovery via investments in sustainable projects.

Nigeria was the first African country to issue a Sovereign Green Bonds in 2017 and launched its the Green Bond Market Development Programme a year later. The Nigerian Stock Exchange (NSE) Green Bond Market is a platform for green bonds in the country and four bonds are listed on the platform. Late last year, the NSE signed a Memorandum of Understanding with the Luxembourg Stock Exchange to promote cross-listing and trading of green bonds in Nigeria and Luxembourg, with Access Bank’s Green Bond the first to be listed on both exchanges.

Download BAO E-MAGAZINE

In South Africa, in an effort to drive investment and make it easier to list and trade sustainability-linked instruments, the Johannesburg Stock Exchange (JSE) launched a sustainability segment for green bonds in June this year. In July 2020, the African Development Bank invested ZAR 2 billion in Africa’s first Sustainable Development Goals-linked bonds (SDG bonds), which were issued by Nedbank and listed on the newly launched green bonds segment of JSE. This bond issuance is expected to create jobs, promote SMEs run by members of under-represented groups in the country, and act as a catalyst for green projects.

Post pandemic, IMT initiatives in Africa are expected to have a heightened focus on improving Africa’s capacity for green, low-carbon and sustainable development, via, for example, clean energy, community healthcare, green transport, sustainable water, wildlife protection and low-carbon development projects. Wildu du Plessis believes a commitment to ESG principles is clearly taking centre stage in the quest for post pandemic funding, with access to capital for large industrial projects now likely to contain sustainability requirements.

Article by: Wildu du Plessis, Head of Africa, Baker McKenzie

NGOs - SDGs

Mercy Ships and Mission Aviation Fellowship renew partnership to bring life-changing surgery to African patients

Published

on

Mercy Ships and Mission Aviation Fellowship Team (Image: Supplied).

Humanitarian aid organizations Mercy Ships and Mission Aviation Fellowship (MAF) have renewed their partnership to help bring life-changing surgical care to isolated communities across Africa.

Mercy Ships operates state-of-the-art hospital ships, providing free surgeries and healthcare services to sub-Saharan nations with limited access to safe surgical care. MAF’s purpose is to bring help, hope and healing through aviation to people living in isolation and poverty.

The renewed memorandum of agreement between these two faith-based charities enables Mercy Ships to extend their reach further inland to a broader spectrum of the population across Africa, bolstered by MAF’s logistical support. This partnership, launched in Madagascar, will enable teams to access hard-to-reach areas and transport patients in need of critical surgical interventions. This collaboration provides opportunities for those in the most remote and inaccessible regions of the country. Further joint initiatives are being explored in other African nations.

“Traveling by road in Madagascar can be incredibly challenging due to the rough terrain and poor infrastructure,” Michael Jurgensen, MAF Madagascar Country Director, said. “In many cases, reaching remote villages can take days by car, draining valuable time and energy. However, with MAF Madagascar’s support, the [Mercy Ships] patient selection team can cover vast distances swiftly and safely, enabling them to visit multiple locations within a short period. Flying not only saves time for the selection team, but also ensures the team can travel to evaluate and select patients from the most isolated and underserved areas for surgery on-ship at a later date.

A 2016 study of Madagascar revealed that only 20% of the population can access surgical services within a two-hour timeframe, and up to 95% would face financial ruin if they required surgery (source: BMJ Global Health). With a scarcity of surgeons — approximately 1 for every 100,000 people — the prospect of receiving necessary surgical treatment seems unattainable for many (source: WHO).

Download BAO E-MAGAZINE

Bernard van den Bosch, who has worked for both MAF and Mercy Ships, and current Director of the Africa Services Center at Mercy Ships, expressed his enthusiasm: “We are confidently re-engaging with MAF because together we are stronger. The country of Madagascar has many hard-to-reach areas, and MAF is the key to accessing them. Non-profit organizations can ‘compete,’ but ultimately, we all serve the same goal. I see many opportunities for future collaboration and intensive joint efforts.”

Bastiaan de Waal, Africa Regional Director of MAF, added: “By transporting Mercy Ships teams with our aircraft to the interior of Madagascar, we provide help, hope and healing to residents with the surgical care they desperately need. The need is high in these areas, and these people in isolated communities are equally entitled to care. We are pleased to partner alongside Mercy Ships to support this often-forgotten group. Being each other’s hand and foot is what we are called to do and we have a shared synergy of vision and values.”

This renewed collaboration between MAF and Mercy Ships exemplifies how strategic partnerships can enhance humanitarian efforts, ensuring that more people receive the critical medical care they need. The two organizations previously partnered from 2014 to 2016 in Madagascar and have worked together in Liberia.

Mercy Ships’ hospital ship, the Africa Mercy®, has been docked in Toamasina since February and is delivering surgery and training. The ship is actively collaborating with Madagascar’s Ministry of Health to identify the most pressing needs and strengthen the country’s surgical systems through its education, training, and advocacy program.

Continue Reading

NGOs - SDGs

Climate Launchpad: Beyond competition, a catalyst for change

Published

on

Climate Launchpad Competition 2023 Image.

Despite the success of The Climate Launchpad Competition 2023, Climate Launchpad through the support of Climate-KIC and Irish Aid provided additional support to the participants of the competition through the Post-Climate Launchpad Accelerator. Given that the majority of the participants are early-stage businesses, capacity building is a necessity. The post-competition support is divided into 2, The masterclasses that are being handled by the Climate Launchpad Global team which has participants from over 7 African countries, and The national capacity-building session handled by the Climate LaunchPad Nigeria Team. 

The Masterclass session featured a business-changing session on important modules like funding options & Instruments, Gender and Climate, Communications and Storytelling, Climate Impact etc.  The national capacity-building session focuses on marketing strategies, practical and optimal use of social media and analytics. As an early-stage business in Nigeria, one of the major challenges you face is reaching and communicating with your potential customers at the market entry stage. The modules were selected after feedback from alumni of the competition. 

The modules have been proven to be useful as we have started seeing the tractions of the businesses on social media. Overall, the post-competition support program has been no short of helpful to the businesses. We had 5 active participants from Nigeria who have expressed their gratitude for the post-competition support. Each of them will be given a grant of EUR200 to facilitate their marketing and social media usage.

The National Lead for Climate Launchpad Nigeria, Oluwatosin Ajide affirms the importance of the accelerator program “If we have more competition dedicating their support beyond just the pitching like Climate Launchpad does, We would have more green businesses with solid foundations”. He also thanked the Climate Launchpad central team and the sponsors the Climate-KIC and Irish Aid for their constant support in building the green ecosystem in Nigeria.

Download BAO E-MAGAZINE

Continue Reading

NGOs - SDGs

GEANCO Foundation and Archewell Foundation Announce Mental Health Initiative for Nigerian Youth

Published

on

The GEANCO Foundation and The Archewell Foundation has announced an expansion of their partnership, currently serving girls and young women across Nigeria with menstrual health products and education, to include mental health resources and training for young men and women. 

This expanded partnership kicked off with its inaugural Mental Health Summit, taking place over two days and serving nearly 200 students in Abuja, Nigeria’s capital. Prince Harry and Meghan, The Duke and Duchess of Sussex and co-Founders of The Archewell Foundation opened the Summit by delivering inspiring remarks to the young people in attendance.

Download BAO E-MAGAZINE

GEANCO intends to hold summits throughout the country over the next year, providing teenage girls and boys with the information, skills, and coping mechanisms necessary to flourish mentally.

“Youth in Nigeria are critically underserved in terms of mental and menstrual health”, said GEANCO’s CEO Afam Onyema.  “I am deeply grateful to The Duke and Duchess for partnering with us to address this crisis and provide this vulnerable but inspiring young generation with what they need to thrive in body, mind and spirit.”  

A strong stigma also surrounds mental health in Nigeria, which is critically neglected in the country. The World Health Organization estimates that only 3% of the federal government’s health budget goes to mental health, and while up to one-third of Nigerians have mental health challenges, fewer than 500 mental health professionals serve the country’s 200 million plus citizens.  Nigeria’s teens and youth in particular have little to no access to mental health support.

The expanded partnership will also continue the ongoing work to support young girls with menstrual health products and education. An estimated 37 million women and girls in Nigeria experience “period poverty”, meaning they are unable to access or afford menstrual products like pads, tampons, and underwear. Because of the material difficulties caused by period poverty and the deep stigma surrounding menstruation, millions of girls in the country miss school every month, crippling their educational advancement and deepening Nigeria’s already vast levels of gender inequality.

GEANCO Foundation provides critical health care and education services in Nigeria. Its David Oyelowo Leadership Scholarship provides full tuition, medical care, and social and emotional support to young female victims of terrorism and gender inequality in Nigeria.

Continue Reading

Ads

Most Viewed