Climate solutions beyond investor, entrepreneur connections — Grace Mbah, ED, Climate Action Africa 

Grace Oluchi Mbah,co-founder/executive director, Climate Action Africa

GRACE OLUCHI MBAH, the co-founder and executive director of Climate Action Africa (CAA), a social enterprise that promotes climate literacy, advocacy, research, and commercialisation of sustainable products and services in Africa, tells Business a.m.’s ONOME AMUGE, about the impact of the upcoming Climate Action Africa Forum and the pivotal role of the Deal Room in advancing a green and sustainable agenda for the African continent, opening up new horizons for climate investment and innovation to reshape the continent’s climate narrative. Excerpts:

What inspired Climate Action Africa to introduce the Deal Room concept in the 2024 Climate Action Africa Forum?

Climate Action Africa introduced the Deal Room concept at CAAF24 to bridge the critical gap between climate-focused businesses and potential investors. Understanding the pivotal role of adequate funding and resource support in scaling climate solutions, the Deal Room is designed as a dynamic platform to facilitate these essential connections, fostering an ecosystem where climate innovation can thrive.

Can you elaborate on the challenges climate entrepreneurs in Africa face and how the Deal Room aims to address them?

African climate entrepreneurs often face challenges such as limited access to funding, lack of technical expertise, and minimal market access. The Deal Room addresses these challenges by providing a platform for visibility, networking with seasoned investors and experts, and access to a broader market through showcased innovations.

How does the CAAF24 Deal Room aim to address the gaps between climate ventures and investors? What specific strategies and tactics are being employed?

The CAAF24 Deal Room employs several strategies to bridge gaps between climate ventures and investors, including:

• Curated matchmaking sessions to align startups with the right investors;

• Panel discussions and workshops to educate both parties on the latest industry trends and investment opportunities;

• Showcasing innovative projects to attract funding and support on a platform recognised by key stakeholders in the climate finance community.

 How does the Deal Room contribute to the overall mission of CAA to promote climate resilience and sustainable development in Africa?

The Deal Room contributes to Climate Action Africa’s mission by actively promoting investments into projects that are directly aligned with climate resilience and fostering green growth. It enhances the scalability of effective solutions and fosters a more robust economic environment conducive to green growth.

Do you believe that simply connecting entrepreneurs and investors is enough to drive the growth of climate solutions in Africa, or are there other factors at play?

While connecting entrepreneurs with investors is crucial, it’s not sufficient alone to drive the growth of climate solutions. Other factors such as policy support, community engagement, education, and infrastructure development also play significant roles. The holistic approach ensures a sustainable and impactful climate resilience development across the continent.

How does the Deal Room intend to build a comprehensive support system for climate entrepreneurs, beyond just connecting them with investors?

Climate ventures often need various resources to thrive, including capital, mentorship, technical expertise, and market access. The Deal Room aims to provide these through direct connections with investors, industry experts, and potential partners. It also offers exposure to a broader network and collaboration opportunities that can lead to accelerated growth and increased impact.

How does the CAAF Deal Room complement other efforts to promote innovation in climate technology in Africa?

The CAAF Deal Room complements other initiatives to promote climate-tech innovation in Africa by providing a focused platform for financial and resource support, often the most challenging hurdle for startups. It works alongside educational programmes, policy advocacy, and community-based projects to create a comprehensive support system for innovators.

How do you envision the future of climate innovation in Africa after the success of the CAAF24 Deal Room?

Post-CAAF24 Deal Room, the vision for climate innovation in Africa is optimistic, with an expected increase in successful, scalable climate solutions. The Deal Room’s success is anticipated to inspire further investment and innovation, leading to more robust climate action and sustainable development across the continent.

What kind of impact does CAAF hope to achieve through this accelerator, both in the immediate and long-term?

In the immediate future, CAAF aims to catalyse significant investments into promising climate technologies and innovations. In the long term, the goal is to establish a sustainable ecosystem of innovation that addresses immediate climate challenges and foster a culture of continuous improvement and adaptation, ensuring long-lasting impacts on both local and continental scales.