This archive report was first published on 15 June 2021.
Former Prime Minister Raila Odinga and Sundeep Raichura, CEO of Zamara Group, have been appointed to the Advisory Board of the African Green Infrastructure Investment Bank (AfGIIB). The announcement was made during the G-7 African Investor Summit in Cornwall in June 2021.
As Advisory Board members, Odinga and Raichura will champion and create a specialist green infrastructure investment platform to support Africa's green transitions. Their mandate includes creating jobs, increasing the continent's share of the industrial green global economy, and delivering globally competitive risk-adjusted returns for investors.
On his appointment, Odinga stated, "I support initiatives of this type that catalyze more investments into infrastructure in Africa and more so support and accelerate Africa's transition to a greener and more resilient economy."
Raichura noted that sustainability in investments would be critical while working on the long-term recovery in the aftermath of the Covid-19 pandemic. He added, "The emerging need to reassess investment allocation by Kenyan pension funds presents an opportunity to revisit nature-based and sustainable solutions for more resilient physical infrastructure to mitigate climate change and physical risks."
The African Green Infrastructure Investment Bank (AfGIIB) initiative is an African Union-convened, African institutional investor-led, global finance initiative to catalyze private capital for Africa's green transition. The advisory board will serve as an influential green investment mobilization avenue for the continent, ahead of the UN Climate Change Conference (COP27) in 2022.
