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Innovating Finance

Innovating Finance for Climate Change as Policymakers Gather for the U.S.-Africa Leaders Summit

Innovating Finance for Climate Change as Policymakers Gather for the U.S.- Africa Leaders Summit 2022 Sponsored by Bank of America and Africa Finance Corporation in collaboration with 

WASHINGTON –December 13, 2022 –, Bank of America and Africa Finance Corporation (AFC) are convening a high-level curated event to discuss innovating finance for climate change in Washington D.C. on December 15, during the U.S.- Africa Leaders Summit. 

The event will bring together a focus group of senior leaders to contribute to framing financial innovations that are needed to advance the partnership between the United States and Africa on tackling global climate change. 

“As one of the largest investors in renewable energy on the continent, AFC is leveraging the US-Africa Leaders Summit to call upon U.S. impact investors, philanthropists, fund managers, and research and technology institutions to join us in developing global standards for carbon trading, providing safer and 

less polluting energy alternatives for the millions of Africans that cook with firewood, and overcoming the challenge of energy poverty in Africa today,” said Samaila Zubairu, President & CEO of Africa Finance Corporation. “We have doubled down on AFC’s commitment to clean technology, targeting growth in our Renewable Energy Platform from 1.4GW to 5GW by 2025, and welcome meaningful discussion on finding ways to crowd in further stakeholders.” 

“We need strong partners to work with in resolving some of this century’s accelerating challenges for Africa: climate change, energy and technology. Identifying institutions with the ability to develop, deliver and scale solutions is critical to addressing financing gaps and accessing opportunities to mobilize capital more effectively in Africa,” said Yvonne Ike, head of sub-Saharan Africa (ex-RSA), Bank of America. 

The United States recently issued a new policy towards Africa that seeks partnership with African institutions to address key global challenges, particularly in relation to energy, global climate change and technology. There is no better time than now for Africa to play a central role, working with the United States and other developed economies, in solving these global challenges. 

Leading the conversation are Samaila Zubairu, President & CEO, Africa Finance Corporation, and Yvonne Ike, Managing Director, sub-Saharan Africa (ex-RSA), Bank of America. 

The event is unique in featuring an interactive conversation among experts moderated by Teresa Clarke, Chair of “The goal of the evening is to end with new ideas, new and stronger relationships, and specific action items that will lead to creative financing solutions as Africa moves forward in addressing global climate change,” said Clarke. 

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Africa Finance Corporation
AFC was established in 2007 to be the catalyst for private sector-led infrastructure investment across Africa. AFC’s approach combines specialist industry expertise with a focus on financial and technical advisory, project structuring, project development and risk capital to address Africa’s infrastructure development needs and drive sustainable economic growth. 

Fifteen years on, AFC has developed a track record as the partner of choice in Africa for investing and delivering on instrumental, high-quality infrastructure assets that provide essential services in the core infrastructure sectors of power, natural resources, heavy industry, transport, and telecommunications. AFC has invested over US$10 billion in 36 countries across Africa since inception.

Bank of America
Bank of America is one of the world’s leading financial institutions, serving individual consumers, small and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company provides unmatched convenience in the United States, serving approximately 68 million consumer and small business clients with approximately 3,900 retail financial centers, approximately 16,000 ATMs and award-winning digital banking with approximately 56 million verified digital users. Bank of America is a global leader in wealth management, corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to approximately 3 million small business households through a suite of innovative, easy-to-use online products and services. The company serves clients through operations across the United States, its territories and approximately 35 countries. Bank of America Corporation stock (NYSE: BAC) is listed on the New York Stock Exchange. 

Media Inquiries: Susan Gitau