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COP 26: What innovative financing solutions can the continent adopt? {Business Africa}

Afolake Oyinloye   -  
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Business Africa

Business Africa

The Indian delegation's argument at COP26 to balance mitigation of climate change effects against other development needs like poverty eradication aptly captures the predicament many African countries face.

Pledges of financial resources like the $100 billion made in 2009 are yet to be fulfilled, which means African nations must be ready to finance and manage their own survival against a climate change doomsday.

Ibrahima Cheikh Diong, Director-General of the African Risk Capacity Group, a specialized agency of the African Union, shed some light on the self-sustaining options available for African countries, considering how slow Africa's development partners have been in delivering on their commitments to combating climate change effects.

Saving beer from climate change

Every single beer on the African market today contains hops. While Hops is one of the four main ingredients in beer, global warming poses a serious threat. To curb the challenges created by temperature fluctuations, a computer engineer has turned to green agriculture for solutions.

Crippling cost of transporting goods across Nigeria

Nigeria may be Africa's biggest economy but years of insecurity and reliance on road transport are fuelling the high costs of transporting goods. Transporters say it is cheaper to ship goods from as far as the United States than to move them inside the borders of the vast country. We have more in this report.