The Carbon Markets Africa Summit (CMAS) 2026 concluded in Kigali with new financing initiatives and practical discussions on how African countries can develop credible carbon projects, attract investment and secure greater value for their communities.

Held from 13 to 15 October at the Kigali Convention Centre, the summit brought together governments, project developers, investors, buyers and technical specialists. Across three days, the programme connected policy decisions with the commercial and technical requirements of bringing projects to market.

Connecting projects with buyers and investment

Investor and buyer roundtables, project showcases and dedicated deal rooms created opportunities to examine African projects alongside the requirements of those who could finance them or purchase their credits.

The programme spanned blue carbon, reforestation, agriculture, rangeland restoration and waste-related solutions. Discussions explored buyer expectations, pricing, offtake arrangements and the financing needed before projects begin earning carbon revenues.

A concrete development was the announcement of the Africa Nature Impact Fund by Finance Earth, FSD Africa and FSD Africa Investments. Targeting US$100 million for early-stage nature and nature-based carbon projects, the platform has a £5 million cornerstone commitment from FSD Africa Investments and is seeking a US$20 million first close in 2027.

The initiative addresses a persistent challenge: promising projects need suitable capital for preparation and development long before they can generate and sell their first credits.

Strengthening the conditions for growth

Policy discussions examined national approaches, regional cooperation and market access. A ministerial press conference on 14 October, the first day of the main summit following the Foundation and Dialogue Day, provided an additional opportunity for journalists to engage directly with leaders.

During the summit, Hon. Dr Bernadette Arakwiye, Rwanda’s Minister of Environment, outlined an approach Rwanda is exploring to use a share of carbon transaction proceeds through the Rwanda Green Fund to help prepare and pre-finance future projects.

Technical workshops and solution labs addressed authorisations, changing international requirements, risk-sharing, registry interoperability and local verification capacity. Live demonstrations also explored the role of digital tools in monitoring and reporting project performance.

Rwanda advances its sustainable finance agenda

On 15 October, the Kigali International Financial Centre (KIFC), the summit’s platinum sponsor, launched Rwanda’s Sustainable Finance Roadmap 2.0.

The framework sets priorities through 2030, with greater emphasis on preparing businesses and projects for investment, strengthening carbon finance and improving sustainability data

KIFC Chief Executive Officer Hortense Mudenge highlighted the wider economic promise of sustainable finance, from helping businesses grow and creating jobs to strengthening Rwanda’s economic resilience. She also outlined the ambition to develop Kigali as a centre for carbon aggregation and investment structuring.

Credibility and community value

Alongside investment, the summit examined project integrity and the role of communities as owners and active market participants.

“For SGS, environmental integrity, credible projects and meaningful benefits for local communities are essential,” said Shikha Sharma, Global Technical Lead, Climate Solutions at SGS, the summit’s gold sponsor.

She emphasised: “Independent validation and verification play a critical role in ensuring that carbon credits represent measurable climate action and building confidence in the market.”

Maxwell Gomera, UNDP Resident Representative in South Africa and Director of the UNDP Africa Sustainable Finance Hub, was among those who delivered closing remarks.

Looking beyond Kigali, he underscored the importance of following through:

“CMAS brought countries, project developers and investors together to address the practical barriers to investment. The next step is to turn those connections into well-prepared projects and transactions, with community rights and fair benefit-sharing built in from the start.”

Building towards the next chapter

“Our ambition is for Africa to shape carbon markets that finance its priorities and create lasting value for its people,” said Emmanuelle Nicholls, Portfolio Director at VUKA Group. “As we look towards next year’s summit, we want to build on the connections made in Kigali and see more African projects secure the investment and partnerships they need to grow.”

CMAS 2026 was hosted by Rwanda’s Ministry of Environment, with UNDP and the African Development Bank as host organisations, the Development Bank of Southern Africa as host partner and AUDA-NEPAD as strategic institutional partner.