Ghana’s Finance Minister Stresses Stability for Climate Prosperity at Nairobi Summit
Dr. Mohammed Amin Adam, Minister of State at the Ministry of Finance, delivered a crucial message on the need for political stability in Africa to ensure policy consistency and foster climate prosperity.
Speaking on behalf of Minister for Finance Ken Ofori-Atta at the inaugural Africa Climate Summit in Nairobi, Kenya, Dr. Amin Adam emphasized that recent political unrest in parts of the continent has hindered regional efforts to combat climate change.
Addressing the summit on the topic ‘Creating a Supportive Policy Environment to Attract Green Foreign Direct Investment,’ Dr. Amin Adam underscored the importance of maintaining consistent policies to attract investment financing on the continent.
He noted that conflicts and political instability in one country could have adverse effects on neighboring nations, potentially disrupting the flow of foreign investments into the region.
Dr. Amin Adam called for Africa to proactively protect itself against actions that undermine regional stability and cooperation, urging the continent to seize the abundant opportunities for growth and development. He warned that such spillover effects from conflicts could significantly impact the flow of foreign investments, regardless of the apparent strength of individual economies.
“Overall, conflict in Africa can have far-reaching and complex consequences for international investment and regional economic development,” Dr. Amin Adam cautioned. He further stressed the critical need for governments, corporations, and other stakeholders to collaborate in addressing the root causes of conflict to create stability, security, and prosperity.
The 2023 Africa Climate Summit, organized under the auspices of the African Union, carries the theme ‘Driving Green Growth and Climate Finance Solutions for Africa and the World.’
It serves as a rallying call for climate stakeholders across the continent to mobilize and prepare for the upcoming UN Climate Change Conference, COP28, scheduled for December 2023 in Dubai, UAE.
As Africa strives to address the challenges of climate change and attract foreign investment to support green initiatives, the remarks by Dr. Mohammed Amin Adam at the Nairobi summit highlight the critical role of political stability in achieving these goals.
The summit provides a platform for African nations to come together in their commitment to driving sustainable and prosperous futures while safeguarding the environment.