Kenya Climate Innovation Center (KCIC), a body established by the World Bank, said it plans to help 300 small and medium-sized enterprises to play a role in combating climate change in the next five years.
“Out of that figure, we hope to have at least 200 successful businesses in the renewable energy, agriculture and water management sectors,” KCIC CEO Edward Mungai told Xinhua in Nairobi on the sidelines of the Symposium on Climate Change and Drought Resilience in Africa.
The two-day conference brought senior government officials, academicians and researchers from Africa to review the continent’s progress in combating climate change.
KCIC plans to provide up to 50,000 U.S. dollars in grants for entrepreneurs with ideas on a pilot basis.
“In the event that a business idea becomes viable, KCIC will provide additional funds to commercialize the concept,” Mungai said.
In addition, the organization also provides business support services and links firms to government to enable them access crucial services.
Mungai said firms that actively mitigate and adapt to the impacts of climate change have a competitive advantage in the marketplace. Enditem