AfDB Annual Meetings: Randin: More private sector financing needed to combat climate change

During this year's African Development Bank Group's Annual General Meeting, Nicolas Randin, Assistant Director General, Ambassador, Head of Sub-Saharan Africa Division, Swiss Development & Cooperation, shared insights on Switzerland's priorities in Africa and the importance of private sector involvement in combating climate change. The annual meetings focused on climate and green growth for the continent, key areas that align with Switzerland's bilateral cooperation with 18 countries in Africa. Randin emphasized the complementarity of Switzerland's programs with those of the African Development Bank, particularly in funding infrastructure projects. Switzerland's involvement in Africa spans various sectors such as migration, education, vocational training, health, agriculture, food security, gender issues, and economic development. Recognizing the importance of context-specific interventions, Switzerland prioritizes areas where it can make a meaningful impact. Gender equality and economic empowerment are also central themes in Switzerland's engagement with African countries. One of the challenges facing private sector investment in Africa is the perception of risks. Randin highlighted the need to change the narrative about Africa and showcase the vast opportunities available on the continent. Switzerland is actively engaging its private sector through initiatives like the upcoming Africa Business Day to promote investments in African markets. By bridging the gap between perception and reality, Switzerland aims to attract more private sector players to explore opportunities in Africa. Reflecting on his participation in the annual meetings, Randin praised the African Development Bank's ownership by African countries and its responsiveness to the region's needs. He expressed optimism about the bank's role in driving sustainable development and facilitating partnerships that benefit African nations. With a focus on collaboration and innovation, Switzerland remains committed to supporting Africa's quest for climate resilience and inclusive growth. As the discussions in Sharm El Sheikh concluded, the call for increased private sector financing and strategic partnerships echoed throughout the meetings. Switzerland's dedication to enhancing cooperation with African countries underscores the shared commitment to address pressing challenges such as climate change and economic development. Through targeted investments and inclusive initiatives, the path to a more sustainable future for Africa and its people continues to unfold.