Kenya a major recipient of green funding in Africa

Rural electrification and Renewable Energy Cooperation board chairman, Simon Gichara [right] and his chief Executive officer, Peter Mbugua inspect some of the transformers at their Mariakani Yard, along Mombasa--Nairobi road. [Omondi Onyango, Standard]

Kenya is among the developing countries that accounted for 50 per cent of total tracked private finance flowing into Africa, according to a new report by Climate Policy Initiative.

With private climate financing valued at close to 4.2 billion dollars (Sh506.5 billion) flowing into the continent in 2022, it means that Kenya and other developing countries received green financing amounting to Sh253.3 billion.