Ninety One CEO Hendrik du Toit joins GFANZ Africa Network Advisory Board
8 Sep, 2022

Ninety One CEO Hendrik du Toit joins GFANZ Africa Network Advisory Board to support climate finance in Africa

Hendrik du Toit, CEO and Founder of Ninety One

Hendrik du Toit, CEO and Founder of Ninety One, will join the Africa Network Advisory Board, adding a leading global voice on the just transition to net zero to GFANZ’s work bolstering transition finance on the continent.

GFANZ, which is co-chaired by UN Special Envoy for Climate Ambition and Solutions and founder of Bloomberg LLC, Michael R. Bloomberg and Mark Carney, UN Special Envoy for Climate Action and Finance and former governor of the Bank of England, is a practitioner-led coalition of financial sector institutions bringing together some of the most senior leaders in global finance. Their work aims to accelerate the world’s transition to net-zero greenhouse gas emissions by 2050.

The GFANZ Africa Network seeks to unlock investment and support engagement with African financial institutions to work towards a net zero that is inclusive and applicable to all. As you’ll note from the attached, climate change poses both a significant challenge and a growth and sustainable development opportunity for African countries.

Africa has contributed the least to global greenhouse gas emissions, but faces disproportionately greater exposure to the risks of climate change. A large part of the African continent has been left out of the energy transition to date, with just 2% of global investments in renewable energy in the last two decades made in Africa. The continent has vast potential in clean energy across wind, solar, hydro, and geothermal energy which the Africa Network will work to unlock.

According to Hendrik du Toit, CEO of Ninety One Asset Management, the establishment of the GFANZ network is a key step forward, furthering investors’ contribution to a practical transition path towards a lower carbon- and ultimately net zero-economy through responsible ownership and sensible pricing of risk. “There is only one way to accelerate the transition from brown to green: by providing the means. We have to finance the reduction of greenhouse gases, not just for impact, but for return.

This means directing capital to the regions and sectors where a changeover is most needed. We need to deliberately allocate public and private finance to ensure that the changeover happens in time while maintaining much of our productive industrial base. Alongside green investment, we should mobilise transition finance. This is sustainability with substance.”

Hendrik joins other leading representatives in climate and finance from across Africa, including:

Dr. Mahmoud Mohieldin, UN High-Level Champion Action Champion of Egypt, COP27 (Advisory Board Chair)
Dr. Mohamed Farid Saleh, Chair of the Egyptian Financial Regulatory (Advisory Vice Chair)
Hussein Abaza, CEO, CIB
Ade Ayeyemi, CEO, Ecobank
Dr. Leila Fourie, CEO, Johannesburg Stock Exchange
Dr. Frannie Léautier, CEO, South Bridge Investments
Tariye Gbadegesin, CEO, ARM Harith Infrastructure Fund Managers
Ms. Nezha Hayat, Chairperson and CEO, Moroccan Capital Market Authority
James Irungu Mwangi, Executive Director, Dalberg Group
Mark Napier, CEO, FSD Africa
Lesley Ndlovu, CEO, African Risk Capacity
Arunma Oteh, Chairperson, Royal African Society
Dr. Vera Songwe, UN Under-Secretary-General and Executive Secretary of the Economic Commission for Africa

Please see the full GFANZ media release below…



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