Battling for food security in Africa: Is climate finance the missing bullet?

Abstract As climate change increasingly threatens food production and distribution in Africa, understanding how climate finance programs can effectively improve food security in the region has become a critical research priority. In this light, the present study investigates the effect of climate finance on food security across 37 African countries from 2012 to 2021, utilizing secondary data and employing the system generalized method of moments. Our findings consistently demonstrate that climate finance plays a significant role in reducing food insecurity in Africa. This effect remains robust across various alternative food insecurity and climate finance metrics. Furthermore, through analyses of transmission channels, we confirm the indirect pathways through which climate finance contributes to improved food security outcomes in the region. Based on the findings, the study recommends strengthening and expanding climate finance initiatives focusing on enhancing accessibility, equity, and targeted support for farmers to reduce food insecurity.