#Africa Circular Economy Facility (ACEF)

[thxnews]

Africa's Leap into Circular Economy Revolution

In the face of climate change, Africa is rewriting its narrative from vulnerability to opportunity. The sidelines of COP28 in Dubai hosted a panel discussion on Advancing Circular Economy for Climate Resilience in Africa. Co-hosted by organizations like the African Development Bank and the United Nations Environment Programme, the event posited Africa as a potential hub for combating climate change through circular economy practices. Circularity offers African countries a chance to reduce reliance on finite resources, diversify economies, and create new employment opportunities. This approach positions the continent to better withstand climate-related challenges. Finland's Role in Promoting Circularity in Africa Finland has emerged as a key advocate for circularity in Africa, contributing to the Africa Circular Economy Facility (ACEF) and pioneering a national circular economy roadmap. Ambassador Tuula Yrjola’s presence at the event underscored Finland's commitment to promoting circular economy models in Africa, emphasizing decoupling economic growth from resource consumption and promoting regional value chains.   Economic and Environmental Benefits of the Circular Economy The circular economy model can significantly reduce greenhouse gas emissions, offering a sustainable and clean energy transition. For Africa, this model represents an $8 billion annual market opportunity. Dr. Anthony Nyong from the African Development Bank highlighted Africa's potential to not only tackle climate change but also become a global solution provider.   Africa's Progress and Challenges in Circular Economy The African Union Commission has developed the Continental Circular Economy Action Plan for Africa, serving as a roadmap for the transition. The ACEF plays a vital role in promoting circularity across the continent, supported by the African Development Bank Group and Regional Member Countries. Chad, along with Benin, Ethiopia, Cameroon, and Uganda, benefits from ACEF's multi-country national circular economy roadmap project. Representatives like Ms. Tchere from Chad’s Ministry of Environment shared their aspirations and challenges in establishing circularity-focused platforms and seeking support for their goals.   Strengthening Partnerships for Circular Economy Transition Dr. Rose Mwebaza of UNEP emphasized the need for stronger partnerships and alliances to mobilize resources for Africa’s transition to circularity. The ACEF’s three-pronged approach focuses on creating an enabling environment, incentivizing initiatives through business incubation, and advocating for mainstreaming circularity through alliances like ACEA.  

Uniting for a Circular and Resilient Africa

The conclusion of the COP28 side event echoed the theme “Unite. Act. Deliver”, calling for collaborative efforts from governments, businesses, and civil society. By embracing circular economy practices, Africa can build climate resilience, foster sustainable development, and secure a prosperous future for its people. This transition to circularity not only addresses immediate climate challenges but also paves the way for a sustainable and thriving African economy.   Sources: THX News & African Development Bank Group. Read the full article