The African Climate Foundation convened a special event at COP30 in Brazil on how renewables can accelerate Africa’s green industrialisation by localising value chains and enabling inclusive growth. The event was led by our Deputy Head of Programmes, Zira Quaghe.
In his keynote address, Adnan Amin, Special Envoy for the Middle East and a member of our board, described this moment as “a historic opportunity for African development.” He underscored Africa’s significant structural advantages, noting that six of the world’s ten fastest-growing economies are located on the continent. Africa is also endowed with some of the richest renewable energy resources globally and holds many of the critical minerals needed for the clean energy transition. Coupled with the world’s youngest population and an increasingly tech-literate generation driving vibrant start-up ecosystems, these assets place Africa in a uniquely strong position to shape the future of green growth.
Adnan emphasised the balance between climate responsibility and development rights. Although Africa contributes only around 4% of global emissions across 52 countries, it still faces growing expectations to support global mitigation efforts. He stressed that the continent retains an unequivocal right to development and to reliable energy access. The rapid expansion of renewable energy in countries such as Kenya, Ethiopia, South Africa, Morocco and Egypt shows that Africa’s energy transition is not aspirational but already well underway.
He stressed the need for Africa to shift from raw material extraction to value-added transformation. To become competitive, high-value, innovation-driven economies, African countries must put in place predictable and credible regulatory frameworks, strengthen investment climates, and pursue industrial strategies that deliberately prioritise value addition. This shift is essential for leveraging Africa’s resource base for long-term prosperity.
Adnan also highlighted the importance of social inclusion, noting that green industrialisation must create decent, well-paying jobs, particularly for young people. Emerging green sectors, including renewable energy, battery and EV manufacturing, as well as associated services, are already demonstrating higher productivity and wage potential than traditional extractive industries.
On financing, he proposed reframing climate and development finance for Africa as strategic investment rooted in historic responsibility, rather than as charity. He noted that persistent misperceptions about high risk in Africa are inconsistent with real investment performance, yet continue to inflate the cost of capital across the continent. Adnan highlighted the growing role of African institutions, including regional development banks, which are increasingly acting as proactive, strategic partners capable of driving transformative investment rather than operating as traditional passive lenders.
Adnan’s keynote set an ambitious and forward-looking tone, calling for a shift in mindset, policy and global engagement to realise Africa’s potential as a leader in the green industrial future.
This address was followed by an IEA presentation that provided evidence on the scale and pace of the global clean energy transition and Africa’s current and potential role. Key highlights from the presentation include:
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Clean energy markets are growing at unprecedented speed
Since the Paris Agreement, EV sales and solar deployment have accelerated dramatically. The clean technology market has expanded from USD 200 billion to nearly USD 2 trillion, with projections of USD 4 trillion by 2035. -
Global supply chains are highly concentrated
Manufacturing and refining for solar, wind, batteries and EVs remain dominantly located in China, with India and Southeast Asia as significant players. Africa currently captures less than 1% of global clean energy manufacturing value. -
Africa is missing value due to raw mineral exports
Most African critical minerals are exported raw, resulting in enormous lost value. Moving into refining and intermediate processing could increase Africa’s revenue by up to 75%. -
Heavy industry opportunities are emerging
Africa’s rapid urbanisation will sharply increase demand for steel and other industrial materials. With abundant renewable power, Africa could produce competitive low-carbon steel for domestic use and for export to markets such as Europe. -
Africa can compete in clean technology manufacturing
IEA modelling shows Africa could achieve cost competitiveness with the EU and potentially China if enabling conditions are in place. The continent could develop substantial capacity in battery and EV manufacturing, potentially producing several million EV units by 2035. -
Africa’s role can shift from raw supplier to industrial hub
With the right policies and investments, Africa can move from being a supplier of raw materials to becoming an integrated manufacturing and industrial hub within global clean energy value chains.
The IEA findings reinforce the importance of targeted industrial policy, investment in enabling infrastructure, and strategic regional cooperation to unlock this potential.
A panel followed, and included Dr Al-Hamndou Dorsouma. The discussion examined practical constraints and enabling conditions for green industrialisation. It was noted that African borrowers, including SMEs and start-ups, often face interest rates of 10–15% or more, while advanced economies pay 2–3%. This financing gap undermines competitiveness and slows project pipelines. Participants stressed the need for accessible, appropriately designed finance; stronger African-led institutions to shape risk assessments; and regional integration and the AfCFTA to create the predictable markets required for industry. They also highlighted growing innovation in off-grid and mini-grid systems and digital technologies, noting that policy should support homegrown solutions and adaptation.
To close, Tengi George-Ikoli of the Natural Resource Governance Institute warned that “Africa must not miss this moment, as green industrialisation offers a once-in-a-generation opportunity.”
Supporting Africa’s value-chain ambitions requires persistent diplomacy and strong negotiation positions. Africa must not miss this moment, as green industrialisation offers a once-in-a-generation opportunity.
