African climate and policy experts are calling for urgent reforms to regulations governing climate finance. They warn current rules may slow down investment in the continent. This slowdown could also weaken Africa's industrial growth and reduce its global competitiveness in climate funding.
Professor George Nwangwu, Convener of the Africa Climate Forum, stated that regulations must attract investment while safeguarding domestic industries. This ensures fair economic returns for African nations. He highlighted that global competition for capital is increasing. African countries need adaptive and strategic regulatory frameworks to stand out.
"Regulation is always very important," Prof. Nwangwu explained. "It can either catalyse investment and trade, or it can be a barrier to trade and investments." He further emphasised that Africa needs regulations that actively encourage investment within the continent. Attracting investment should not compromise local economic protection. Weak policy frameworks risk fostering greater dependence on external value chains. This situation limits Africa's ability to create value and expand its industries.
Prof. Nwangwu pointed to Ghana's cocoa exports as an example. Ghana exports raw cocoa beans, which are processed into chocolate elsewhere. This process results in capital flowing out of Ghana. He advocates for building local processing capacity. This would enable the production of finished goods within Africa. It would significantly boost economic growth and create jobs.
Dr. Ing. Shelter Lotsu, CEO of TSA Sustainability, noted that African businesses must actively position themselves for climate finance opportunities. Ghana's Green Taxonomy is one such policy framework. Africa currently receives only about 1% of global climate funding, which amounts to billions of dollars. Greater collaboration between businesses, policymakers, and financial institutions is essential.
Dr. Lotsu also stressed the rising importance of sustainability compliance. Environmental reporting is becoming mandatory for companies. Firms must adapt to new emissions reporting standards. They need to transition towards cleaner energy systems. "If you are emitting a lot of carbon into the atmosphere, it is your responsibility to take action," he stated. "Next year, it is going to be mandatory for companies to report in accordance with international standards on Scope 1 and Scope 2 emissions." Scope 1 emissions are direct emissions. Scope 2 emissions come from purchased electricity.
The Accra roundtable discussions will contribute to a larger forum in Abuja in October 2026. This continental gathering aims to consolidate ideas into actionable policies and financing plans. These plans will support Africa's climate and economic transformation agenda.