KEPSA CEO, Ms. Carole Kariuki, on 5th September 2023, participated in a Panel during the High-level One UN-Kenya side event of the Africa Climate Summit on “Sustainable Investments, Consumption and Production in the Green and Blue Economies” at the 1st Lady’s Pavilion, KICC, Nairobi.

The side event provided a platform for stakeholder engagement on the theme “Sustainable Agriculture, Land and Water/Ocean Use” including climate-related social vulnerabilities while focusing on transitioning to more sustainable agri-food systems in Africa.

Dr. Juma Mukhwana, PS for the State Department of Industrialization noted in line with this that the share of manufactured goods in Africa is only 3% representing great opportunities in manufacturing. Thus, the department has identified areas such as emobility, where Africa has a competitive advantage. He also added that using the AfCFTA, the government wishes to partner with regional and global stakeholders to scale impact investments to help Africa grow a sustainable manufacturing sector.

“Kenya has an extraordinary precedence as a nutritious food producer globally. This helps countries like Kenya build capacity to drive sustainable investment, consumption and production in the green and blue economy,” said Mr Stephen Jackson, UN Resident Coordinator.

Ms Carla Mucavi, the FAO representative in Kenya noted that Africa has to adopt sustainable food systems that are generally resilient, efficient and inclusive for better production, better nutrition, better environment and a better future while at the same time leaving no one behind.

“One of the challenges facing the private sector in expanding investment & support for the green growth agenda is the narrow focus on investments. Much attention is on low-hanging fruits like projects with clear business cases & potential returns," remarked KEPSA CEO, Ms. Carole Kariuki during the high-level panel. She noted, "However, there’s a great need to expand the target of private sector financing beyond profitability aspects. We must take deliberate actions toward financial markets strengthening to support climate financing."

KEPSA CEO also added that trade agreements like the AfCFTA presents an opportunity for private sector to tap into green growth financing. Investing in green tech transfers further helps scale innovative solutions that address climate challenges and encourage sustainable production.