ON THE MONEY
STUART THEOBALD: Climate finance is the developing world’s door to commercial capital
Africa needs to show that climate finance can be an opportunity to generate returns
27 November 2024 - 05:00
Remember the good old days, when global investors were pouring money into Africa just because they wanted to get rich?
Up until the financial crisis, emerging markets were hot, and Africa was the last frontier. Mark Mobius, an emerging markets investment pioneer, was the best-selling author of Passport to Profits. Jim O’Neill, a Goldman Sachs economist, coined the term “Bric” in 2001, representing the four most exciting growth opportunities for investors, to which SA was added a decade later to form Brics, an acronym that galvanised those countries to establish a real partnership. ..
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