By Chioma Obinagwam
Central Bank of Nigeria (CBN) Governor Olayemi Cardoso has called on African central banks and development finance institutions (DFIs) to unite in pursuing a model of economic growth that delivers industrialization, job creation, poverty reduction, and strong climate resilience.
Confiance News gathered from a statement from the CBN on Wednesday.
In a keynote address delivered February 15, 2026, at the sustainable finance conference hosted by the Central Bank of Egypt and the International Finance Corporation (IFC) under Egypt’s 30by30 Programme, Cardoso emphasized that Africa’s future depends on building financial systems that are resilient, climate-aware, and economically sustainable.
“The collaborative ambition behind the 30by30 initiative embodies a shared continental vision,” Cardoso said. “Africa must grow, industrialize, create jobs, expand opportunities, and lift millions out of poverty, while decarbonizing and building climate resilience.”
The 30by30 Programme, led by the IFC in partnership with central banks in countries including Egypt, Mexico, South Africa, and the Philippines, aims to scale up private-sector climate finance, support green bonds, and strengthen frameworks for sustainable investments.
Cardoso highlighted Nigeria’s ongoing reforms as a foundation for broader continental progress, noting that disciplined, transparent measures are strengthening macroeconomic fundamentals, restoring credibility, and boosting confidence in the financial system.
“Resilience begins with credibility,” he stressed. “To build resilient financial systems, we must anchor our economies on trustworthy institutions, credible policies, transparent markets, and risk-aware innovation.”
He described climate risk as fundamentally a financial risk, impacting sovereign ratings, borrowing costs, inflation, food security, insurance, and fiscal stability. While Africa contributes the least to global climate change, it faces some of the highest costs—yet it also holds immense opportunities in renewable energy, biodiversity, a youthful population, and dynamic financial markets.
“To seize these opportunities, we must innovate for resilience, not as isolated nations, but as a continent,” Cardoso urged. “By working together deliberately, transparently, and with unwavering commitment, we can build the resilient, sustainable, and inclusive financial systems that Africa needs not only to withstand future shocks but also to thrive in the decades ahead.”
The event in Cairo reinforced a key message: Africa’s financial future hinges on a dual focus on stability and sustainability, with central banks playing a pivotal role in mobilizing green finance and cross-border cooperation to turn climate challenges into economic advantages.
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