In a move to boost Africa’s agricultural productivity and resilience, the African Venture Philanthropy Alliance (AVPA) is calling for the priortisation of climate-smart investments in Africa’s agri-food systems to enhance sustainability, productivity, and resilience.
AVPA made the call at a recent West Africa regional convening themed ‘ Unlocking Catalytic Capital For Climate Smart Investing in West Africa’ held in Lagos.
According to them, agricultural financing must move beyond traditional grants to private capital solutions, public-private partnerships, and blended finance mechanisms to support smallholder farmers and micro-entrepreneurs.
Tokunboh Ishmael, co-founder and managing director of Alitheia Capital, stressed the need for policy reforms to boost local climate-smart financing.
Ismael noted that the country must adopt regulations that mobilise capital effectively, while urging the government to create an enabling environment for climate-smart investments, including adequate policy frameworks and infrastructure development.
She explained that climate-smart initiatives help reduce food wastage, improve agricultural value chains, and ensure produce moves effectively from farms to markets.
Rufus Idris, AGRA Nigeria country director, said that financing farmers to adopt climate-smart innovations is critical to addressing climate change.
Idris noted that Nigerian farmers require improved seeds, better technology, and innovations such as solar-powered irrigation systems, but financing remains a challenge.
Idris stated that with private financing, smallholder farmers will be adequately supported to boost productivity.
Also, Habib Nuhu, head of research at Shell Foundation UK, reiterated that climate-smart financing must be prioritised through public-private partnerships.
Nuhu stressed the need to move beyond grants towards private capital solutions that can support millions of smallholder farmers.
He said clean energy and climate-smart tools must target low-income populations who need them most.
Nela Duke-Ekpenyong, managing partner of Obudu Capital, highlighted the importance of awareness and knowledge-sharing.
She said farmers must understand that climate-smart technologies are designed to benefit them, ensuring ownership and involvement.
In her speech, Jette Bjerrum, the consul of Denmark, said that climate adaptation and green growth are shared ambitions, with West Africa offering vast opportunities.
She explained that Denmark supports agriculture, food production, water management, forest restoration, biodiversity, and renewable energy, including monitoring systems for early warnings.
According to her, climate-friendly solutions are not only necessary but can also be profitable, driving good business opportunities.
In his opening remarks, Adedotun Sulaimon, chairman of AVPA Continental Board, emphasised that climate issues like flooding, deforestation and desertification are immediate and severe threats in West Africa, noting that despite this, it fails to attract sufficient capital due to perceived low and slow returns.
He stated that the event aim to mobilise catalytic capital from mission-aligned actors to de-risk opportunities and crowd in much larger-scale commercial investment where profit motivation alone is insufficient.
Also, Bukar Kyari, chairman of AVPA West Africa Board, stressed that mitigating climate change requires ‘the right types, combination, and tenures of capital,’ underpinned by innovative thinking and multi-sectoral coloration.
AVPA’s goal is to unlock Africa’s agri-food sector, build resilience, and foster sustainable development through focused climate-smart investments.
