Kampala, Uganda: The innovative Climate Finance Accelerator (CFA) programme has opened in Uganda at a launch event held at the British High Commission in Kampala. CFA Uganda is looking for projects fighting climate change that would benefit from capacity building support to help them attract investment.
Between six and eight projects are expected to be selected from the energy, water, smart agriculture, clean transport, waste management, forestry and circular economy sectors. CFA Uganda is looking for projects that are in at least the pre-feasibility stage and require a minimum of USD$1 million. The call for proposals is open until 24 November and projects should complete the online application.
Selected projects will receive advice and support from a range of technical and financial experts to help them move closer to securing investment. Support for projects includes improving financial models, advice on pitching to investors and how to embed gender equality and social inclusion (supporting women and other disadvantaged communities) within their business. A final event in late February will allow projects to present to and meet investors and financiers.
Funded by the UK Government, CFA Uganda will bring together stakeholders who can develop and finance climate projects at scale, contributing to the priorities set out in Uganda’s Nationally Determined Contribution under the Paris climate Agreement.
British High Commissioner, Kate Airey said: “I’m delighted to be able to launch CFA Uganda and welcome applications from projects that are helping to reduce carbon emissions in Uganda. The CFA already operates in nine countries where the support it has provided to projects has led to some significant investment successes. CFA Uganda’s capacity building approach complements the UK’s existing investments in Uganda’s climate entrepreneurs through funds such as the Energy catalyst and the Climate Smart Jobs Agriculture innovation fund.I am excited to find the next generation of innovative, climate smart projects in Uganda and I am sure that CFA Uganda’s high quality expert advice will help them to move closer to securing finance.
The CFA is implemented in Uganda by Bethel Advisors who are the in-country partner.
Amanda Kabagambe, Managing Director of Bethel Advisors said: “We are working alongside the UK Government and the global CFA programme to extend technical assistance to climate responsive projects in Uganda. Our experience indicates that many investment worthy projects remain unfunded across various sectors, for lack of support and access to like minded investors. This programme will enable us to continue to close the access to finance gap, secure jobs, and contribute to a green transition in Uganda.”
The CFA is a global technical assistance programme implemented in ten countries – Colombia, Egypt, Mexico, Nigeria, Pakistan, Peru, South Africa, Türkiye Uganda and Viet Nam. It is working to develop a sustainable pipeline of bankable, low carbon projects in each country. The CFA is part of the UK’s efforts to support climate action on a global scale, facilitating access to finance and helping governments achieve climate targets under the Paris Agreement.