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The Landscape of Climate Finance in Africa offers the most comprehensive overview of climate investment flows across the continent. This report identifies gaps and opportunities, serving as a critical resource for policy formulation, advocacy, and investment decisions in African climate finance.

Download the 2024 report 

To delve deeper into the data, explore the data tools ↗ .

Key Findings

Climate finance in Africa surged in 2022 after stagnating in 2020 and 2021 amid the economic fallout of the COVID-19 crisis. Africa has seen a 48% increase in climate finance flows from USD 29.5 billion in 2019/20 to USD 43.7 billion in 2021/22. The majority of this increase came in 2022, when Africa’s annual climate investment crossed the USD 50 billion mark for the first time.  

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International sources provided 87% of Africa’s tracked climate finance, highlighting the region’s ongoing domestic resource and capital mobilization challenges. Private finance was spread evenly across domestic (49%) and international (51%) sources.  

Africa’s climate finance flows must at least quadruple annually until 2030 to meet the investment needs for implementing its current NDCs: Only 23% of the estimated Africa’s needs are currently met.

The investment gap is significant for both mitigation and adaptation objectives, with only 18% of annual mitigation needs and 20% of adaptation needs being met in 2021/22. 

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While all regions remain significantly underfunded by at least 3 to 6 times, the largest funding gap is observed in Southern Africa.  

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International climate finance flows remains heavily concentrated in a small number of African countries, with top ten countries receiving 46% of total funding, while ten African countries that are the most vulnerable to the negative impacts of climate change receive only 11% of the finance, leaving them severely underfunded. These disparities become even more pronounced when looking at private investments, where ten countries received 76% of the total private climate finance in Africa, while the remaining countries received only 16%.

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Private sector finance almost doubled between 2019/20 and 2021/22 (to reach USD 8 billion), demonstrating a substantive growth in commercial participation and market development.  However, this accounts for just 18% of Africa’s total climate flows, a far lower share of climate flows than any other region globally. 

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Climate finance flows continue to be primarily in the form of debt instruments despite high debt vulnerability in the region.

Explore the data further by using our interactive tools.

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