BII unlocks private capital at COP29

British International Investment (BII) is taking the lead in championing the mobilization of private capital to fuel green investments in developing nations, with a particular focus on Africa. At COP29 in Baku, discussions have been ongoing on how to bridge the finance gap needed for the green transition, especially in regions burdened by high public debt. Chris Chijiutomi, the Managing Director and Head of Africa at BII, shared insights on the company's strategy and innovative mechanisms to attract private sector investment in the climate space. Despite being unable to attend COP in person, Chijiutomi highlighted BII's ongoing efforts to engage with the private sector and governments to drive sustainable investments. With over 76 years of experience investing in Africa, BII is well-positioned to navigate the challenges and risks associated with mobilizing private capital for climate projects. The company recently established a mobilization unit and a $100 million facility to crowd in more private capital through innovative financial products and strategies. By leveraging blended finance, concessionary finance, and showcasing successful projects, BII aims to address the risk-return expectations of private investors and facilitate the transition to a greener economy. Chijiutomi also discussed the potential impact of global power shifts on private capital flows to Africa, emphasizing the opportunities presented by Africa's abundant critical minerals and natural resources for renewable energy. As the world closely monitors policy changes under the new Trump administration, BII remains optimistic about the potential for Africa to attract more private capital for sustainable development initiatives.