Africa: Financial Expert Nazir Jinnah Urges African Businesses to Adapt to Climate Challenges in 2024

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Nairobi — As the world confronts the relentless onslaught of climate change, Africa is not immune to its far-reaching consequences.

In 2024, the effects of climate change are poised to significantly impact businesses across the continent, presenting both challenges and opportunities for proactive adaptation.

The intensification of climate change in Africa manifests through rising temperatures, erratic weather patterns, and increased frequency of extreme events.

Financial expert Nazir Jinnah said these environmental shifts pose direct threats to businesses, particularly those in agriculture, tourism, and infrastructure.

”Unpredictable weather conditions disrupt supply chains, leading to increased operational costs and reduced productivity,” he said.

Further, Jinnah noted Agriculture, a cornerstone of many African economies, faces the brunt of climate change.

He said shifts in rainfall patterns, prolonged droughts, and more frequent floods jeopardize crop yields and livestock productivity.

”Smallholder farmers, comprising a significant portion of the workforce, are particularly vulnerable, risking food security and economic stability,” he said.

As a leading investor in the tourism industry, Jinnah said Africa’s diverse ecosystems and wildlife have long been a magnet for tourists.

However, he said, ”climate change threatens this vital sector. Ecosystem degradation, loss of biodiversity, and extreme weather events can diminish the allure of natural attractions, impacting tourism revenues and the livelihoods of those dependent on the industry.”