Investment Summit Seeks To Unlock Climate Finance for MSMEs

The Kenya Climate Innovation Center (KCIC), in collaboration with various partners, has organized an Investment Summit that goes from the 4th to the 6th of October. The summit bridges the gap between entrepreneurs’ engagements with Investors ‘Growth’ with the intention of scaling climate financing opportunities for Medium, Small, and Micro Enterprises(MSMEs).

KCIC Investment Summit is focused on Unlocking Climate Financing Opportunities for MSME Growth. The discussions on key thematic areas at the summit aim to get together investors, entrepreneurs, and enterprises in one setting to facilitate convenience in matters of access to funding.

This initiative is a significant step towards supporting medium and small enterprises in addressing the challenges posed by climate crisis events, many of which are unforeseen. This will make it possible to initiate policy dialogues on climate financing ecosystem and green investment

Mr. Murabula Joseph, CEO of KCIC, emphasized that the investment summit follows the Africa Climate Summit echoing the urgency for actualized actions. Bringing green enterprises and potential investors together means more targeted action from fruitful conversations, this breathes new life into the journey towards impactful climate actions through funding.

investment summit
Mr. Murabula Joseph, CEO of KCIC

MSMEs are crucial in forming the largest employment sector in the Kenyan business landscape, offering substantial opportunities to the energetic, innovative, and dynamic young population. Something that KCIC is in supporting entrepreneurs focused on green growth, from incubation levels to business scaling.

“Let’s develop well-curated climate response actions that are targeted and informed for optimized impact. Over the past eleven years, KCIC has contributed to the creation of more than 4000 jobs since 2011, with an annual addition of over 400 jobs,” added Mr Murabula.

It’s evident that climate change is a global challenge, exacerbated by unprecedented floods, rising food insecurity, and unprepared-for droughts, leaving millions affected. This underscores the urgent need for unified collaborative action to lead climate actions towards sustainable development.

“Substantial population increase in Africa will mean that we need to speed up job creation and create opportunities. KCIC AgriBiz program an initiative supported by the European Union in Kenya and Denmark in Kenya continues to support the youth and women in rural and urban areas within the agricultural value chains”- H.E Amb Henriette Geiger.

investment summit
H.E Amb Henriette Geiger

The transition to a green economy is becoming a reality, with it offering substantial potential despite the challenges. For instance, Kenya is projected to have a potential of 213 billion market opportunity in the green economy sector.

According to Prof. Da Silva, Vice Chancellor of Strathmore University, the difference in economic growth between Ireland and Kenya can be attributed to strategic investments. Since, Ireland’s leaders in the 1970s focused on funding research and innovation, leading to more innovations and substantial economic growth.

Prof. Izael Da Silva emphasized the importance of supporting dynamic, innovative, and young individuals to advance solution-oriented ideas, addressing the current crisis effectively. This stride in climate action will require unification and collaboration to advance this transition.

On matters of collaboration, Trine GronBorg, Deputy Head of Mission and Head of Cooperation at Denmark in Kenya said climate change poses an existential threat to the environment, our economy, and the overall well-being of our communities.

“The urgent need to mitigate these effects of climate change and support climate-smart enterprises requires collective action,” she added.

During the Investment Summit unveiling, the representative of Kenya Climate Envoy, Hon Ali Daud Mohamed, stressed the significance of this forum, especially following the Africa Climate Summit, which resulted in the adoption of the Nairobi Declaration of African Leaders in Kenya.

Climate change is no longer a peripheral issue but affects every sector, from governance to production. The declaration provides guidance for decarbonization in Africa and the embrace of the green economy, encompassing various opportunities.

“Innovation and technology transfer is crucial for scaling climate actions, including carbon markets, credit adoption, clean cooking technologies, and ecosystem restoration programs.” Hon Ali Daud highlighted.

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