The Green Economy— Africa Must Lead
Introduction: The New Growth Paradigm
The world is undergoing a fundamental economic transition. The green economy is no longer a niche agenda. According to UNEP, the global green economy could unlock $10 trillion annually by 2050, transforming energy, agriculture, oceans, and land systems. The green transition is about survival, but it is also about opportunity. For Africa, it is a once-in-a-century chance to leapfrog into inclusive prosperity.
At McRollin, we argue that Africa cannot afford to be a latecomer. It must be an early leader in shaping the global green economy — not only to protect its ecosystems but also to seize the growth, finance, and dignity that comes with climate leadership.
What Is the Green Economy?
The green economy is defined by UNEP as an economy that results in improved human well-being and social equity, while significantly reducing environmental risks and ecological scarcities.
Key features:
Powered by renewable energy.
Driven by resource efficiency and circular production.
Anchored in climate-resilient ecosystems.
Inclusive of SMEs and communities, not just large corporates.
It is not about sacrificing growth. It is about redefining growth so that it generates prosperity without destroying the ecological base on which life depends.
Why Africa Must Lead
Africa’s position in the green economy is unique:
The continent holds 60% of the world’s solar potential.
It has 65% of the world’s uncultivated arable land.
It owns 30% of global mineral reserves essential for clean energy technologies (cobalt, lithium, rare earths).
Its youth population — the world’s fastest-growing — will drive both innovation and labor for the green transition.
If Africa builds on these assets, it can shift from being a resource taker to a global green hub.
Current Trends and Shifts
Green Finance Rising
Global sustainable finance topped $4 trillion in assets under management (AUM) in 2023.
Green bonds in Africa grew by over 20% annually in the last five years, with Nigeria, Kenya, and South Africa leading.
Carbon Border Adjustments
The EU’s Carbon Border Adjustment Mechanism (CBAM) will impose carbon tariffs on exports. African economies that fail to green production risk losing critical markets.
Nature-Based Solutions
Forests, mangroves, and savannahs are becoming tradable carbon sinks. Africa is home to the Congo Basin — the world’s second lung after the Amazon.
Green Industrialization
New green corridors — from Morocco’s solar farms to Kenya’s geothermal projects — are positioning Africa as a producer of clean energy and green hydrogen.
Case Insights: Global and African Leaders
Morocco’s Noor Solar Complex: the world’s largest concentrated solar power plant, powering 2 million homes.
Ethiopia’s Green Legacy Initiative: planted over 25 billion trees, demonstrating nature-based solutions at scale.
South Africa’s Just Energy Transition Plan: secured $8.5 billion in climate finance from global partners.
European Green Deal: shows how policy can rewire entire economies, with implications for Africa’s export models.
These examples underscore that the green economy is real, happening now, and defining competitiveness.
Nobel Alignment: Green Economy as Peace, Prosperity, Sustainability
The green economy is Nobel-aligned because it embodies the three pillars of global peace and progress:
Peace: less conflict over water, food, and resources when ecosystems are resilient.
Prosperity: green growth creates new jobs, industries, and SME opportunities.
Sustainability: planetary boundaries respected, ensuring intergenerational equity.
It is not just a technical transition — it is a civilizational choice.
McRollin’s Green Charter: Our Response
McRollin has positioned itself at the intersection of governance, climate action, and operational excellence through the McRollin Green Charter.
SMEs: The Missing Middle of the Green Economy
SMEs contribute over 80% of jobs in Africa yet remain excluded from most green financing pipelines. McRollin argues that the green economy will only succeed if SMEs are empowered.
Our interventions include:
Training SMEs in ESG and climate reporting to make them investment-ready.
Building integrity-driven procurement systems so SMEs can supply to large green projects.
Partnering with donors to ensure green finance flows to the last mile.
The Risks of Inaction
If Africa misses the green economy transition, the risks are profound:
Carbon lock-in: dependence on fossil fuels will erode competitiveness.
Stranded assets: oil and coal infrastructure could become liabilities.
Market exclusion: exports face rising tariffs in green-conscious markets.
Climate vulnerability: Africa already loses 5% of GDP annually to climate shocks.
Inaction is not neutral; it is a path to irrelevance and poverty.