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As part of the GCA Youth Adapt Challenge, AfriLabs is pleased to announce an upcoming webinar titled “SMEs as a Key Driver for Climate Adaptation & Innovation in Africa,” scheduled for June 27th, 2024, at 2 pm WAT.
The webinar aims to underscore the critical role of Small and Medium-sized Enterprises (SMEs) in driving economic growth, fostering innovation, and addressing climate-related challenges across the African continent. By showcasing initiatives such as the GCA YouthAdapt Challenge, the event seeks to highlight how SMEs, particularly those led by young entrepreneurs, are becoming pivotal agents of change in climate adaptation and innovation.
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The African Adaptation Acceleration Program (AAAP) YouthADAPT pillar, launched to prepare a new generation of African youth for green and climate-resilient development, has been instrumental in promoting entrepreneurship and innovation for climate adaptation and resilience in Africa. The AAAP YouthADAPT Challenge, an annual competition jointly organized by the Global Center on Adaptation, African Development Bank, and Climate Investment Funds, aims to scale up transformative youth innovations for climate action.
In its mission to strengthen inclusive growth and broaden investment opportunities for African youth, the YouthADAPT Challenge has awarded grants of up to $100,000 to each winner, providing them with a platform to scale up their businesses and create decent jobs. The program has garnered significant attention, with winners announced at high-profile events such as COP27 and COP28.
SMEs are recognized as crucial drivers of economic growth and innovation across Africa, particularly in the face of increasing climate-related challenges. Their locally-driven solutions and deep understanding of local contexts enable them to develop targeted and culturally appropriate adaptation strategies. Moreover, SMEs’ adaptability and quick innovation make them effective responders to emerging climate threats.
With SMEs generating a significant portion of formal job positions in emerging markets, their role in achieving Sustainable Development Goals 8 and 9 cannot be overstated. The upcoming World SME Day on June 27th serves as a timely reminder to recognize and celebrate the resilience and impact of SMEs worldwide.
The webinar aims to achieve several key objectives; highlight the significance of SMEs in contributing to economic growth, climate adaptation, and innovation in Africa, emphasize the growing importance of SMEs in addressing climate-related challenges on the continent, showcase initiatives like the African Youth Adaptation Solutions Challenge as examples of leveraging young entrepreneurs’ creativity for climate resilience, examine the potential of SMEs as agents of change in climate adaptation and innovation in Africa, and explore the role of SMEs in fostering climate resilience and adaptation strategies across various sectors in Africa.
Nanko Madu, Director of Programmes at AfriLabs, stated, ‘SMEs are the backbone of Africa’s economy and hold immense potential in driving climate adaptation and innovation. By empowering young entrepreneurs and investing in their capacity, we can unlock transformative solutions that address pressing environmental challenges while fostering economic growth and resilience across the continent.'”
Register now and join us on June 27th for this insightful webinar using this link: https://tinyurl.com/YAChallenge2022.
