Entrenching ESG Practices Into AfCFTA To Promote International Trade

The current trends on the continent have an increased focus on sustainability with many African countries recognising the importance of sustainability and ESG practices and governments enacting legislation and regulations to address these challenges.

For example, in addition to South Africa's Climate Change Bill, Kenya also launched the Kenya Green Bond Programme in 2017 to develop a green bond market which was the first shilling-denominated green bond in East and Central Africa on the London Stock Exchange. The CBK has also developed a Guidance on Climate-Related Risk Management for the banking sector which aims to sensitise stakeholders in the sector to the mitigation of climate-related risks on one hand, and harnessing of opportunities on the other.