A Deputy Minister at the Ministry of Finance, Dr Alex Ampaabeng has highlighted Ghana’s strong commitment to the Africa Green Industrialization Agenda, AGII, citing it as a platform for growth in the African green economies.
He noted that “The AGII is a great step, and Ghana fully supports this vision. It’s a platform for accelerated investment and opportunity for growth in the African green economies. This will undoubtedly increase the opportunities for decent and greener jobs for our citizens”.
Speaking at the inaugural steering committee (SteerCo) meeting hosted by David Mazaheri, Managing Partner of White Hilt Capital held on the margins of the 79th United Nations General Assembly in New York, Dr Ampaabeng advocated for harmonization of fiscal policies to avoid unfair competition as the continent continues to attract investments.
The African Green Industrialization Initiative seeks to highlight Africa’s opportunities for green industrialization, showcase successful renewable projects and propel Africa towards a carbon-neutral economy.
African leaders at COP 28 in Dubai launched the Green Industrialization initiative to accelerate green growth in African industries and attract finance and investments.
Dr Ampaabeng pointed out the pressing question African leaders must be asking themselves, which was; How do we ensure that the critical minerals we control effectively fuel our green growth agenda?.
The Deputy Minister opined that, to critically address the question, African leaders needed to prioritise value addition to the continent’s critical minerals policy framework they develop.
According to him, two essential areas of focus should be “harmonization of fiscal policies to avoid unfair competition among ourselves as we attract investments across our countries and strategically leveraging our role in global critical minerals sector to support industrialization drive”.
The meeting brought together key representatives from across Africa to review progress and set strategic priorities for accelerating the continent’s green industrialization agenda.
At the meeting, Kenyan President William Ruto, the U.K Foreign Minister David Lammy and other African leaders discussed the AGII ‘s focus on advancing research-driven green growth, fostering collaboration on industrial clusters and promoting knowledge sharing among nations.
The meeting concluded with a consensus on the need for enhanced coordination and collaboration among African countries to accelerate green industrialization efforts and to ensure that Africa remains a crucial player in the global transition towards a sustainable future.
