Africa-Press – Eswatini. Prime Minister Russell Mmiso Dlamini has called on the international community to raise Africa’s share of renewable energy financing to at least 20% by 2030, stressing that this is vital for achieving a just and equitable global energy transition.
Speaking at the opening of Africa Climate Week in Addis Ababa, Ethiopia, held under the theme “Accelerating Global Climate Solutions – Financing for Africa’s Resilient and Green Development,” the PM said Africa cannot be left behind in the race toward clean energy.
Financing the Transition
“The IPCC’s Sixth Assessment Report has made clear that Africa requires nearly US$3 trillion to meet our Nationally Determined Contributions by 2030, yet climate finance flows remain grossly inadequate, falling short at just US$30 billion between 2021 and 2022,” he stated.
Dlamini emphasised that transformative climate financing must shift from aid to strategic investments in local innovation, ensuring that African nations can build resilience, create green jobs, and drive sustainable development.
Reforming Global Systems
The PM urged reforms in global funding mechanisms, including Multilateral Development Banks (MDBs), to boost concessional finance and increase African representation. He also called for operationalising the Fund for Responding to Loss and Damage, advancing the New Collective Quantified Goal (NCQG) on climate finance, and developing high-integrity carbon markets through the Africa Action Plan on Carbon Markets (AAPCM).
He further cautioned against unilateral measures like the European Union’s Carbon Border Adjustment Mechanism, which could cost Africa up to US$25 billion annually by 2030.
Eswatini’s Commitment
Grounding his message in Eswatini’s Tinkhundla system, which places people and communities at the centre of decision-making, Dlamini pledged unity with African nations in ensuring that climate action remains inclusive and citizen-focused.
“We pledge to support the Africa Climate Innovation Challenge and other mechanisms that channel catalytic finance toward youth-led enterprises and nature-based solutions,” he affirmed.
Africa’s Role in Global Stability
The PM concluded with a reminder that Africa’s climate resilience is not just a regional issue but a global imperative.
“Africa’s resilience is indispensable to global stability and prosperity. Together, we can transform this challenge into an opportunity for green growth, shared prosperity, and climate justice for generations to come,” he said.
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