Cardoso Urges Central Banks: Ignite Africa’s Green Boom Now

By Linda Ike

Central Bank of Nigeria Governor, Olayemi Cardoso has issued a clarion call to African central banks and development finance institutions (DFIs) to aggressively drive industrialisation, job creation, and poverty reduction while decarbonising economies and building climate resilience or watch the continent falter.

Delivering a keynote at the Egypt 30by30 Programme, hosted by the Central Bank of Egypt and the International Finance Corporation (IFC), Cardoso commended the initiative’s collaborative ambition as a blueprint for a resilient, climate-smart African future.

Through partnerships with the World Bank Group, he reaffirmed the CBN’s commitment to risk-aware financial systems, green finance, cross-border ties, and positioning Africa to not just survive global shocks, but dominate them. “Resilience begins with credibility,” Cardoso stressed.

In Nigeria, he noted that disciplined and transparent reforms are strengthening macroeconomic fundamentals and boosting confidence, creating solid ground for sustainable growth.

He urged anchoring economies in trustworthy institutions, credible policies, transparent markets, and risk-aware innovation.

Cardoso didn’t mince words on climate threats, Climate risk is financial risk, hammering sovereign ratings, capital costs, inflation, food security, insurance, and budgets.

Africa, he pointed out, emits the least globally yet suffers disproportionately, yet boasts vast renewables potential, biodiversity, youth power, and booming financial markets.

“To seize these opportunities, we must innovate for resilience, not as isolated nations, but as a continent,” he declared.”

“By working together deliberately, transparently, and with unwavering commitment, we can build the resilient, sustainable, and inclusive financial systems that Africa needs to thrive.” He added.

The speech spotlights Africa’s make-or-break moment: blending stability with sustainability to unlock a prosperous era.