Nairobi: Governments across Africa have been asked to strengthen their capacity to deal with the effects of climate change, enhancing the resilience among communities to enable them to adapt to global shocks.
According to Kenya News Agency, the Association of Chartered Certified Accountants (ACCA) has raised concerns over the low level of preparedness among businesses for climate-related disasters, with only 20 percent of organizations adequately equipped to manage such risks. The urgency of this issue was highlighted by recent heavy rains and mudslides in Kenya’s Elgeyo Marakwet County, which led to the death of over 20 people, underscoring the need for collaboration between the government and other stakeholders to enhance capacity for dealing with climate-related catastrophes.
Speaking at the Media Breakfast – Africa Members’ Convention (AMC), ACCA Director for Africa Jamil Ampomah emphasized the operational threats posed by the increasing frequency and intensity of climate-related events such as floods, droughts, and heatwaves. A survey conducted by ACCA leadership indicated that the probability of business disruptions linked to climate events includes power outages (54 percent), supply chain disruptions (31 percent), financial losses (38 percent), facility damage (24 percent), and data loss (12 percent), among others. Ampomah urged both governments and businesses to invest in climate resilience to ensure long-term sustainability and economic stability.
ACCA’s Regional Head of Public Affairs for Africa, Jane Ohadike, highlighted the role of governments as both regulators and facilitators of resilience. She noted the mounting public finance pressures globally, particularly in emerging and low-income economies, which face challenges such as debt servicing, demographic shifts, and rising expectations for public service delivery. Ohadike stressed the importance of increasing public sector productivity to manage fiscal pressures, referencing World Health Organization projections that the global population of people over 60 years will nearly double by 2050, leading to increased healthcare and welfare costs.
Ohadike advocated for a 10-point plan for finance professionals, focusing on realistic budgeting, departmental collaboration, process improvement, and continuous upskilling of finance teams. She emphasized that budgets should be seen as strategic tools that can drive productivity and resilience when aligned with long-term outcomes. Ohadike also pointed out that business continuity and crisis management are increasingly responsibilities under the Chief Financial Officer function, urging organizations to invest in resilience to minimize disruption costs and enhance customer confidence.
George Njari, ACCA Head of East Africa Cluster, called on finance professionals to adopt innovative approaches to public sector productivity and fiscal growth, highlighting the potential of new technologies such as data analytics and AI to improve efficiency and transparency in public sector institutions. He stressed the need for professionals to assess emerging risks and develop policies and governance frameworks to navigate these changes.
The AMC, a biennial event for ACCA members and leaders in Africa, serves as a platform for discussing professional issues, shaping global strategies, and expanding professional networks. This year’s convention is scheduled to take place in Mombasa from December 3rd to 5th, 2025.