Africa-Press – Uganda. Africa has the potential to play a transformative role in addressing the global climate crisis while unlocking major economic opportunities, according to the Minister of State for Finance, Planning and Economic Development, Henry Musasizi.
Speaking during the 15th Ministerial Meeting of the Coalition of Finance Ministers for Climate Action, held on the sidelines of the IMF/World Bank Spring Meetings 2026, Minister Musasizi emphasized that while Africa remains one of the regions most vulnerable to climate risks, it is also uniquely positioned to become a cornerstone of the global green transition.
“While our continent faces some of the highest climate risks in the world, it is also uniquely positioned to capture the economic opportunities of the green transition. Our vast agricultural potential can make us a breadbasket for the world, while our exceptional solar and renewable energy resources position us as a global powerhouse for clean energy,” he said.
Minister Musasizi underscored the importance of reframing climate action as a driver of economic growth, job creation, and global competitiveness. He noted that both climate mitigation and adaptation strategies can convert environmental challenges into pathways for resilient and inclusive development.
Citing research, Minister Musasizi highlighted that investments in climate adaptation can yield significant economic returns, with estimates suggesting up to USD 10 in benefits for every USD 10 invested. Such targeted spending, he said, can substantially reduce projected GDP losses associated with climate change impacts.
Minister Musasizi called for urgent alignment of national and regional economic strategies with emerging sectors tied to the green economy. These include clean energy generation, resilient infrastructure, critical minerals, value-added manufacturing, and climate-smart agriculture.
He also challenged fellow finance ministers to accelerate the transition from policy ambition to measurable outcomes.
“How are we translating climate ambition into tangible economic outcomes? How are we balancing short-term macroeconomic pressures with long-term resilience? And how can we scale up investment to unlock growth and jobs?” he asked.
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