Cardoso Advocates Climate-Resilient Growth in Africa

In a keynote speech delivered in Cairo, Mr. Olayemi Cardoso, the Governor of the Central Bank of Nigeria (CBN), advocated for climate-resilient growth in Africa.

He participated in the 30by30 program, organized by the Central Bank of Egypt in collaboration with the International Finance Corporation (IFC). Cardoso stressed the necessity for African nations to work together to build a resilient financial system capable of withstanding climate change impacts.

He noted that Africa contributes the least to climate change yet faces the highest costs, and he urged for innovative financing solutions to enhance economic sustainability. Cardoso emphasized the importance of transparency, discipline, and macroeconomic reforms to boost confidence in the financial system.

He also pointed out that Africa has significant opportunities in renewable energy and biodiversity, which can be leveraged to create jobs and lift millions out of poverty. His statements underscored the critical need for a dual commitment to stability and sustainability in Africa's financial future.