The effects of climate change are being felt across Africa, from devastating droughts to intense floods, and the continent’s vulnerability to these disasters is exacerbated by a significant climate finance gap.
In Uganda, the government, private sector, and civil society are coming together to address this challenge. The 2nd Annual Climate Finance Conference, themed “Closing the Climate Financing Gap in Africa,” is a testament to this collective effort.
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The conference hosted by the Climate Finance and Sustainability Centre at Makerere University Business School (MUBS), in partnership with the Uganda Institute of Banking and Financial Services (UIBFS) brings together key stakeholders in finance, policymaking, and sustainability to explore actionable solutions for mobilizing and utilizing climate finance effectively
Songa Lawrence Biyika, MP for Ora County and Chair of the Parliamentary Committee on Climate Change, emphasized the significance of climate finance in his opening remarks. “Climate finance is not just a global issue, but a local one as well,” he said. “Before Africa can address the broader global climate finance gap, it must first tackle the microclimate finance gap at home.”
Biyika highlighted the importance of green, smart solutions in households, which can collectively contribute to national and continental climate finance efforts. “We must emphasize the role of small-scale sustainable practices in households,” he said. “These practices can make a significant impact when combined with national and continental efforts.”
Mrs. Goretti Masadde, CEO of UIBFS, emphasized the critical role of the financial sector in addressing climate change. “At the Uganda Institute of Banking and Financial Services, we recognize that the financial sector has a crucial role to play in addressing climate change,” she said.
Masadde showcased UIBFS’s Green Finance initiatives, including a Green Finance curriculum, ESG training, and the Green Finance Awards. “We have developed a Green Finance curriculum to equip financial institutions with the knowledge and skills needed to support sustainable development,” she said. “We have also championed ESG training and proudly launched the Green Finance Awards—a first of its kind, recognizing institutions embedding sustainability into their operations.”
Masadde highlighted the power of partnerships in accelerating climate finance solutions, particularly the collaboration with MUBS. “This year, we are excited to co-host this conference with the Climate Finance and Sustainability Centre at Makerere University Business School,” she said. “This collaboration bridges the gap between research, financial innovation, and real-world implementation, ensuring that sustainability is not just an agenda, but a movement backed by data, knowledge, and expertise.”
Dr. Maria Nantongo, Director of the Climate Finance and Sustainability Centre at MUBS, underscored the urgent need for climate finance mobilization in Africa. “Africa as a continent can only finance 10% of the resources required to combat climate change, yet this is a pressing and urgent issue affecting everyone,” she said.
Nantongo emphasized the critical role of academic institutions in shaping climate finance policies and training the next generation of financial leaders. “Academic institutions have a critical role in shaping climate finance policies and training the next generation of financial leaders,” she said. “We must ensure that our students are equipped with the knowledge and skills needed to support sustainable development.”
The conference features expert presentations and panel discussions on topics such as national development aspirations, private sector climate finance, carbon markets participation, and climate finance progress review.
Key speakers include Mrs. Mona Mugume Ssebuliba, CEO of aBi Finance, who will speak on ESG, Greening, and Sustainability, and Dr. Denis Mugagga, from the Climate Finance Unit of the Ministry of Finance, who will discuss Uganda’s national frameworks for climate finance mobilization.
Several expert panel discussions were also held on topics such as:
- National Development Aspirations and Climate Change Action – Aligning national frameworks with climate finance mobilization and utilization.
- Private Sector Climate Finance – Enhancing the role of private sector investments in climate resilience, including the financial services industry.
- Nationalizing the Loss and Damage Fund – Uganda’s approach to mitigating climate-related economic impacts.
- Carbon Markets Participation – Strategies for increasing Africa’s share in the Global Carbon Credit Market
- Climate Finance Progress Review – A stocktake on national efforts in mitigation, adaptation, and biodiversity conservation in line with the Paris Agreement.
- Capacity Building for Climate Finance – Developing human capital to effectively mobilize and deploy climate finance.
- Public Awareness on Green Finance – Increasing consumer knowledge of green financial products and sustainable investment opportunities.
- Financing Locally Led Adaptation – Empowering communities through localized, sustainable financial solutions.
The conference is made possible through the generous support of UNCDF, IFAD, MOFPED, aBi, GIZ, BOU, ARCAFIM, DTB, the Danish Embassy, NMG, CSBAG, NREP, GRO Foundation, Ebee Bikes, aRIN, and Frankfurt Business School. Their commitment underscores the growing collaboration in advancing sustainable
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