AFRICAN unity is essential in addressing economic challenges and poverty affecting African countries, as well as tackling climate change effects in part by adopting the use of clean energy.

This position was affirmed yesterday by Madagascar President Andry Rajoelina and Finance minister Dr Mwigulu Nchemba, where the host president stressed the proper use of clean cooking energy as not only helping to mitigate climate change but also creating jobs and improving livelihoods.

He made these assertions in his opening remarks at the shareholders' meeting for Africa50 and the Africa Infrastructure Forum.

The meeting relates to administering the 12 year capital raising initiative targeting $500m of capital commitments, managed by a high-calibre team of entrepreneurial executives, initiated at the start of this year,

The Africa Infrastructure Accelerator Fund (Africa50-IAF) is an infrastructure private equity fund established to invest in infrastructure projects that unlock capital mobilization in specific countries.

The Madagascar leader said that despite progress in development, the country’s progress is hindered by high electricity generation costs, where the proper use of clean cooking energy would not only help mitigate climate change but also create jobs and improve livelihoods

The minister urged African countries to explore strategies to enhance their economies and improve people’s lives by utilizing clean cooking energy.

Standing in for President Samia Suluhu Hassan, he said the clean cooking energy initiative seeks to address impacts of climate change tied to environmental degradation.

He devoted his remarks to the need for investments in public education about the benefits of clean cooking energy, along with its economic and social advantages as a tool of environmental conservation.

He appealed for global financial institutions and the private sector to join the campaign for clean cooking energy, citing the need for liquefied petroleum gas (LPG) generation, solar energy, geo-thermal electricity and biogas sources.

Banks and other institutions can facilitate access to funding while producing equipment or stoves adapted to these energy sources, he said, in the company of Amina Khamis, the Treasury deputy permanent secretary for public finance management, and Faustine Kasike, the country’s envoy to Madagascar.

The shareholders' meeting was attended by stakeholders from Africa and beyond, with public and private investors, lenders and infrastructure concerns at the helm.

The event aimed to identify solutions to Africa's infrastructure challenges while addressing climate change impacts and promoting the use of clean cooking energy to stimulate economic development, officials noted.