In a recent interview with CNBC Africa, Akinwumi Adesina, President of the African Development Bank, reiterated that Africa has no excuse to remain poor. With its vast natural resources, vast uncultivated arable land, and a young and vibrant population, Adesina believes that Africa must urgently look inward to solve its many challenges and hold governments accountable for poverty.

Adesina expressed concern over the impact of climate change on Africa, stating that the continent is losing $7 to $15 billion per year due to climate change. If no serious action is taken, this amount could increase to $50 billion by 2040. He stressed the need for support in adapting to climate change, as Africa contributes only 3% to greenhouse gas emissions but suffers disproportionately from its effects.

To address this issue, Adesina announced the launch of the African Adaptation Acceleration Program (AAAP), in partnership with the Global Center on Adaptation. The program aims to mobilize $25 billion to support African countries in adapting to climate change. This program, according to Adesina, is the largest climate adaptation program in the world.

Adesina also emphasized the importance of the African Development Bank’s role in financing climate adaptation. Currently, 64% of the bank’s financing for climate is allocated to adaptation projects. Adesina shared the bank’s efforts to tackle climate change, including the launch of the Climate Action Window, which has $429 million to provide climate insurance and support for African farmers.

In addition to climate adaptation, Adesina highlighted the need to improve access to energy and clean cooking solutions. The African Development Bank is implementing the Desert to Power initiative, a $20 billion program that aims to develop 10,000 megawatts of solar power across 11 African countries. Adesina stated that this project will provide electricity for 250 million people and create the largest solar zone in the world.

Adesina expressed his commitment to collective action in addressing climate change and achieving the goal of net zero emissions by 2030 or 2050. He mentioned the formation of the Alliance for Green Infrastructure in Africa, which brings together partners such as the African Development Bank and Africa 50 to support renewable energy development, sustainable transport systems, and clean cooking solutions in Africa.

Adesina highlighted the urgent need for Africa to tackle its challenges and end poverty. He called for increased support and resources to be directed to African countries to address climate change and promote sustainable development. Adesina emphasized the role of the African Development Bank in leading initiatives and providing funding for climate adaptation and green infrastructure projects. With these efforts, Africa can unlock its potential and create a prosperous and sustainable future for its people. As Adesina stated, “We just need to get to work and get it done.”