Speech delivered by Dr Akinwumi A. Adesina, President, African Development Bank at South Africa Investment Conference, Johannesburg, South Africa, March 23, 2022.
ContextSpeech at the South Africa Investment Conference in Johannesburg; the African Development Bank finances Africa's development and promotes investment in South Africa.
Why it mattersAdesina proposes a just transition facility for coal-dependent South Africa.
Problems raised
South Africa relies on coal.
The energy transition needs huge finance.
Debt limits public capacity.
Solutions proposed
Create a Just Energy Transition Facility with G7 partners.
Finance the transition without adding debt.
Invest in agriculture, energy, transport and youth jobs.
