At the COP30 climate conference held in mid-November in Belem, Brazil, over 122 countries submitted new/updated nationally determined contributions (NDCs) to reduce greenhouse gas (GHG) emissions and adapt to climate change. The move was celebrated as a decisive step toward shaping a new climate economy.

In addition, 195 parties adopted the Belem Package, which includes a commitment to triple adaptation finance by 2035, emphasising the need for developed countries to significantly boost climate finance for developing nations.

The moves underscore the importance various governments and institutions across the globe attribute to the issue of climate change and the urgency with which they act to counter its effects.

Meanwhile, Africa is already being ravaged by the effects of climate change.

According to the August 2024 Africa Climate Security Risk Assessment (ACRA) report by the multilateral initiative Weathering Risk, while the continent is one of the lowest contributors to GHG emissions, it is highly vulnerable to the impacts of climate change due to the intersection of various socioeconomic, political and environmental challenges. The climate crisis has already caused significant harm to biodiversity, water security, food production, life, health and economic growth, and climate change impacts are projected to worsen significantly over the coming decades.

Today, 1.34 billion Africans experience water insecurity, 20% of Africa’s population are affected by hunger, and access to cheap and reliable energy is often lacking, said the ACRA report, citing 2023 figures from the UN’s Food and Agriculture Organisation (FAO).

Climate Funding

Jenni Chamberlain is acutely aware of this unfolding disaster. Founder and CEO of Altree Capital, a provider of African asset management and investment advisory services to institutional investors across the globe, Chamberlain is at the helm of the Altree Kadzi Africa Fund (AKAF), which aims to close the funding gap for women-led or benefitting and climate-focused companies across Sub-Saharan Africa.

The fund is “aligned with our mission to ensure diversity, enhance climate impact and financial returns”, says the CEO. “[AKAF] provides growth capital to Africa's most ambitious leaders, ensuring climate-smart practices and leveraging technology for scalability and efficiency. The team is dedicated to assisting portfolio companies scale rapidly through tailored value-creation strategies, drawing on the team's own entrepreneurial experiences.”

“The fund targets sectors such as renewable energy, e-mobility, sustainable agriculture, healthcare and inclusive technology, prioritising enterprises that advance both diversity, resilience and environmental sustainability. By directing capital to these innovators, AKAF supports the businesses that are not only strengthening resilience but also shaping more equitable, climate-resilient economies.”

Women Leaders

Chamberlain has an interesting take on the issue of dealing with the effects of climate change on Africa.

“Women’s leadership produces measurable climate benefits,” she says. “When women serve on corporate boards, research shows companies reduce energy consumption intensity by 60%, cut greenhouse gas emissions by 39% and lower water use by 46%. In a context where Africa faces a yearly US$80 billion climate adaptation funding gap until 2050, empowering women-led businesses is one of the most effective pathways for accelerating low-carbon, climate-resilient growth across the continent.

“AKAF recognises that women and climate are deeply interconnected drivers of sustainable development. Women are disproportionately affected by climate change, facing higher health and livelihood risks, and yet they are early adopters of climate solutions and often lead on-the-ground responses to environmental challenges. Their solutions are practical, rooted in local knowledge and designed to deliver social, economic and environmental benefits. As a result, they play a crucial role in leading community-level adaptation and innovation.  

“Altree sees women as benefit multipliers across enterprises, communities and countries.
AKAF aims to bridge the financing gap faced by women-led and gender-responsive businesses, while ensuring investments also generate climate mitigation and adaptation outcomes.”

Altree Capital is proud to be the 9th private sector investor to participate in the 2X Challenge (2024-2027), supporting gender equality, creating opportunities, and fostering a more inclusive future. https://t.co/p2oyL9OfXM #InvestingInWomen #MovingBillionsForWomen pic.twitter.com/PbZS9UDlJe

— Altree Capital (@AltreeCapital) March 19, 2025

Not to mention the impact women leaders could have on the continent’s growth potential.

“Supporting women-led and benefiting businesses is not just a moral imperative, it is fundamental for unlocking Africa’s economic and social potential,” says Chamberlain. “Women account for almost 25% of the continent’s entrepreneurs and yet, women-led businesses struggle to access finance, with an estimated US$49 billion funding gap in 2024. In a 2019 article, McKinsey estimated that if Africa closes the gender gap in economic participation, the continent could gain US$316 billion in additional GDP by 2025; we are in 2025 and sorely missing this target.

“Traditional financing mechanisms often overlook women-led or benefitting businesses due to cultural, political and social barriers, access to collateral, risk perception and unconscious bias. This limits their ability to scale and contribute meaningfully to healthcare, education, food security and climate resilience. Women are also key actors in community resilience, but they lack access to the resources, training and funding needed to grow their businesses and drive sustainable development.

“Altree addresses this gap by providing targeted finance for women-led or benefitting businesses operating at the intersection of gender equality, climate resilience, healthcare and education. We recognise women as powerful benefit multipliers and changemakers; when empowered with training, resources and targeted finance, they deliver outsized positive effects on business returns, with evidence of far broader impact on household income, child welfare, community health and resilience.”

Shifting Power

Chamberlain is also an advocate for seeing and shifting power in investment processes.

“Shifting power in investment processes begins with rethinking who drives capital allocation in Africa,” says the CEO. “Historically, investment decisions affecting African markets have been made by foreign investors, donors or institutions far removed from local realities. This concept is about moving decision-making, value creation and governance closer to local stakeholders, entrepreneurs and communities, allowing them to set priorities, shape outcomes and capture the rewards of growth. In practice, this shift involves training and empowering local investment professionals, supporting African companies and restructuring governance so investees have a real voice in strategic direction.

“Africa’s investment landscape is evolving rapidly, and it’s clear the role of well-trained local investors has never been more important. We’re seeing a surge in private equity, venture capital and impact investing, especially in high-growth sectors such as fintech, climate finance, agri-value chains and healthcare. This influx of capital offers incredible opportunities to boost economic growth, create jobs and drive innovation across the continent.​

“That said, it’s not without its challenges. African markets are incredibly diverse with different regulatory environments, infrastructure realities and socio-economic contexts. There are also risks like currency fluctuation, political uncertainty and fragmented financial systems that investors must navigate, and the operating environment can change quickly, requiring agility. This complexity requires investors who truly understand the local landscape and can make informed decisions that go beyond just numbers.

“Well-trained local investors bring that critical insight. They know the cultural nuances, the operational challenges and the dynamics of their markets. More than just providing capital, they play an active role in supporting businesses with governance, mentoring and technical assistance, helping corporates grow sustainably. Their deep networks and trust with entrepreneurs and communities ensure investments not only generate financial returns but also lead to lasting social impact. In short, local investor expertise is not just beneficial, it’s essential for Africa’s investment ecosystem to thrive and deliver inclusive growth.”

But shifting power is not only geographic, says Chamberlain, it is also deeply gendered.

“Finance is a social system where gender power dynamics shape what is considered risky, credible or investable. Globally, men dominate capital-allocation roles; they manage the majority of funds, control investment committees and influence how opportunities are assessed. In Africa, this imbalance is even more pronounced, particularly at the leadership and decision-making level.

“Seeing power is the first step: recognising the gendered norms that shape whose judgments are considered credible. The next step is shifting power: ensuring women participate directly in shaping financial decisions. When this happens, risk is understood differently, capital flows diversify and business models that serve women and communities gain visibility.

Enabling SMEs 

Another area that Altree specialises in is driving environmental, social and governance (ESG) impact through small and medium enterprises (SMEs) in Africa and poising them for exit.

This is because SMEs are the backbone of African economies, says Chamberlain, accounting for the majority of employment and innovation. Yet, they continue to face persistent barriers including limited access to finance, weak governance frameworks and informal or under-resourced management structures.

“Altree Capital’s focus on driving growth, strengthening governance and ESG oversight across African companies stems from our conviction that sustainable value creation starts at the enterprise level. Supporting corporates to embed robust ESG principles and disciplined value-creation strategies is essential for unlocking their full growth potential. We work closely with management teams to reinforce internal structures and accountability, empower key decision-makers, and provide the strategic support they need to perform at their highest level. This includes enhancing transparency, reporting and accountability, which are critical elements that not only build resilient businesses but also attract investors committed to long-term, responsible growth.

“[However], despite this progress, many challenges remain. Formalising and institutionalising enterprises is vital to position them for scalable, sustainable growth. While many businesses demonstrate strong commercial potential, they often lack the governance frameworks, reporting systems and operational discipline required to access institutional or commercial capital. Furthermore, in the African context, businesses need to be agile as the external environment can change incredibly quickly and the ability to agilely adjust is essential for longevity. Altree’s work centres on strengthening these foundations, enhancing transparency and supporting leadership teams, ultimately helping businesses become more resilient, investable and growth-ready.  

“At the same time, the opportunities are enormous, particularly as better data and technology improve investability across the continent. The ability to generate reliable, standardised data helps companies articulate their performance and impact more clearly, and is essential to drive growth across the continent. Technology is also playing a growing role in helping businesses streamline operations, monitor performance and communicate with investors more effectively. Other opportunities include climate finance, which is advancing rapidly under Article 6 of the Paris Agreement – this is an enormous opportunity for Africa as it serves to significantly de-risk climate-focused businesses.

Chamberlain quotes the example of Altree-backed Wahu Mobility, an electric mobility company based in Ghana that designs and manufactures e-bikes tailored for Africa urban transport.

“Wahu’s commitment to climate mitigation enabled them to achieve a major milestone, becoming the second company globally to establish an internationally transferred mitigation outcomes (ITMOs) system under Article 6,” says the CEO. “This demonstrates how early engagement in emerging climate finance mechanisms can substantially boost a company’s credibility, reduce risk and position it for accelerated growth.”

#AltreeCapital invests in #WahuMobility, a West African e-mobility company specializing in #electricvehicles. Their recent launch of the first EV plant in #Ghana is a significant milestone and we're thrilled to be part of this innovative initiative. https://t.co/V5JMRw6ghu pic.twitter.com/bMAwagI1Xc

— Altree Capital (@AltreeCapital) February 27, 2024

Asked which construction sectors she thinks will take off in the near future in Africa, Chamberlain says two construction sectors stand out as especially promising when she looks at Africa’s growth story: renewable energy and modern transport networks.

“Renewable energy is set to transform the continent,” says the CEO. “Africa has the largest energy access gap globally, with over 600 million people still lacking electricity. At the same time, the continent holds the world’s most powerful clean energy potential, with over 10TW of solar capacity and more than 350GW of hydropower. What makes this especially compelling is that renewables are now the cheapest source of power in most of Africa and technology has advanced to the point where hard-to-reach communities can run affordable mini- or micro-grid systems.

“As a result, investment is accelerating across solar, wind and hydropower projects as countries work to meet rising electricity demand, boost energy security and tackle climate change. These projects are not only about supplying the grid, they also create jobs, strengthen local industries and help place Africa on a lower-carbon, more resilient development path.

“Second, transport access is a major constraint to Africa’s growth. Today, more than 40% of people in Sub-Saharan Africa lack reliable access to transport, limiting mobility, market access and economic opportunity. With rapidly expanding cities, a doubling of population by 2050 to 2.5 billion people and the AfCFTA [African Continental Free Trade Area] expected to boost trade by 52%, efficient mobility is essential.

“Electric vehicles, bikes and buses, supported by expanding networks of charging stations (many powered by renewables), are beginning to reshape how people and goods move in Africa’s urban centres This shift is also creating new gig-economy opportunities, especially for gig economy workers and urban micro-entrepreneurs who can dramatically reduce operating costs by switching from petrol to electric transport. But for e-mobility to keep on scaling, countries need the construction of charging and distribution infrastructure, local assembly capacity and last-mile connectivity, all of which offer major growth opportunities within the transport sector.”

Scaling Africa's Infrastructure Challenge

On how market intelligence providers such as ConstructAfrica could support her and Altree Capital in improving the construction industry in Africa, Chamberlain notes that for a firm such as Altree Capital, what stands out is how ConstructAfrica connects people such as investors, developers and policymakers with real-time market intelligence, data and project visibility, “[which is] often hard to find in this sector”.
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“But the scale of the challenge ahead requires more than information, it requires collective ambition,” says Chamberlain. “The construction and infrastructure challenge that Africa faces today is enormous – corralling Africa’s 54 countries to ensure strong governance and regulation, and town and city planning for infrastructure and development is a gargantuan task. However, it is possibly the most important task that faces the continent today: ensuring Africa reaches her full economic potential and can serve future generations with the confidence that the work being undertaken today is best-in-class, sustainable and thoughtfully designed.

“ConstructAfrica’s mission for me, is akin to the spirit behind late US President John F Kennedy’s 1960 moonshot speech: “We choose to go to the moon in this decade and do the other things not because they are easy, but because they are hard; because that goal will serve to organise and measure the best of our energies and skills; because that challenge is one that we are willing to accept, one we are unwilling to postpone and one which we intend to win, and the others, too.”

“The same is true here: building the infrastructure that will carry Africa into the future demands the very best of our skills, our leadership and our collective resolve. This mission is difficult and it will require everyone pushing in the same direction. But it is also a challenge we cannot postpone. With dedicated professionals like the team at ConstructAfrica providing the intelligence, platform and connectivity needed to guide this work, Africa can approach this task with confidence and ultimately succeed.”

Photo: Jenni Chamberlain (Source: LinkedIn)