26 September 2018- One Planet Summit, African businesses, including Solektra, commit to raise up to USD 1.4 billion to finance clean infrastructure projects in Africa

New York, 26 September 2018 – On the occasion of the One Planet Summit, H.E.M. Olusegun Obasanjo, Former President of the Republic of Nigeria and Patron to the AfroChampions Initiative, announced the creation of an international coalition of public and private stakeholders to fast-track sub-national sustainable infrastructure on the African Continent. Over the next 4 years, the Sub-national Climate Fund Africa (SnCF Africa) will first commit up to USD 350 million, mobilizing private co-investment to reach up to a total of USD 1.4 billion, in partnership with African sovereign wealth Funds, Afreximbank, and private investors from the AfroChampions Initiative. This major step forward in climate finance, implemented by R20 Regions of Climate Action and BlueOrchard Finance, with support from the European Union and the Global Covenant of Mayors (GCOM), is expected to further innovative clean tech and low-carbon projects in Africa while providing this rapidly urbanizing continent with an ambitious roadmap to cleaner growth.