South Africa has been selected as one of seven countries to participate in a $1 billion global investment initiative by the Climate Investment Funds (CIF). The programme aims to accelerate decarbonisation in emerging markets and position participating nations to tap into the projected $2 trillion global market for green industrial goods by 2030.
Other countries selected for the initiative include Brazil, Egypt, Mexico, Namibia, Türkiye, and Uzbekistan. Together, they will collaborate with multilateral development banks and private sector partners to develop investment plans focused on scaling clean and circular technologies. These include green hydrogen, waste heat recovery, and low-carbon materials like steel, aluminium, and cement - sectors that are central to the global energy transition.
The CIF programme allows up to 100% of its financing to be directed towards private sector led projects, with a mandatory minimum allocation of 50% - opening up a significant opportunity for venture capital and private equity firms looking to back early-stage and growth-stage clean industrial innovations in high-impact markets.
Beyond financing, the programme places strong emphasis on workforce resilience - supporting the reskilling of labour focus in affected sectors and ensuring vulnerable communities are equipped to benefit from emerging green job opportunities.
“The global race to decarbonise industry has begun, and emerging markets are out front. Decarbonising Industry is about more than emissions - it’s about securing long term prosperity and the jobs of tomorrow. And it’s about producing the low-carbon industrial inputs that are urgently needed to expand renewable energy capacity and power the global economy,” said Tariye Gbadegesin – CEO, CIF.
Lungile is the Digital Editor for TechAfrica, with a knack for storytelling, technology and innovative ideas. Working with TechAfrica, she takes simple ideas and turns them into amazing stories.
