The Role of Private Business and Investment in Creating or Reducing Risk

Africa is disproportionately vulnerable to the devastating impacts of disasters. Extreme weather events, coupled with socioeconomic challenges, pose significant threats to livelihoods, infrastructure, and overall development. The COVID-19 pandemic exacerbated these vulnerabilities, underscoring the urgent need for resilient systems and communities. While governments have made strides in disaster risk reduction (DRR), significant gaps remain, particularly in financing and risk transfer mechanisms. 

The session aims to explore the critical role of the private sector in building resilience against disasters in Africa. It will examine how businesses can both contribute to and mitigate disaster risks, while also identifying opportunities to channel private investment into resilience-building initiatives. By fostering collaboration between the public and private sectors, the session seeks to create an environment where businesses integrate disaster risk into their core operations, leading to a more sustainable and resilient Africa.