Through a network of 150 insurers and reinsurers via its climate risk insurance mechanism in Africa, the African Development Bank (AfDB) is mobilizing $1 billion to develop climate insurance solutions.

AfDB President Akinwumi Adesina called for investment in renewable energy in Africa by highlighting the continent's rich energy mix. According to the latter, Africa has enormous energy potential, from hydroelectric and wind power, solar to geothermal energy, which remains untapped in the face of a huge electricity deficit on the continent. The continent also has virtually unlimited solar capacity (11 TW), abundant hydroelectric production (350 GW), of which only 5 to 6% is exploited, wind power (110 GW), of which only 2% are used, and geothermal energy sources (15 GW). According to him, it is necessary to ensure that renewable energy sources are combined and that Africa is given energy security, energy stability, financial accessibility and the independence of the energy sector, in order to be able to fuel its economy.