A few weeks ago I attended the 2024 Impact Investment Foundation Summit held in Lagos with the theme “Catalytic Capital for Inclusive Growth and Development.”
The summit was organized by the Impact Investors Foundation IIF in partnership with LEAP Africa , SIPA , Ford Foundation , The RISA Fund of the United Kingdom International Development, British International Investment, Sterling One Foundation, alongside other key partners.
This year's event brought together leaders in impact investing, fund managers, development finance institutions, philanthropic organizations, and policymakers to discuss strategies for scaling impact investments in West Africa, with a particular focus on small and medium-sized enterprises #SMEs
I loved how this year’s theme focused on deepening catalytic capital deployment in West Africa, addressing systemic financing challenges for #SMEs and fostering inclusive economic growth. It expanded on previous commitments by encouraging partnerships and action-oriented strategies to mobilize more resources for impactful investments.
I’ll share a few things the keynote speakers said at the summit;
Etemore Glover - (MBA), the CEO of Impact Investors Foundation IIF Nigeria, emphasized the importance of deploying catalytic capital to bridge the $331 billion #SME financing gap in Africa. She emphasized Nigeria's role in fostering investments that promote sustainability and inclusion.
Amma Lartey, CEO of @impact investing Ghana, shared strategies for addressing the barriers to mobilizing catalytic capital, including the need for collaboration, networking, and clear governance frameworks.
Wale Okunrinboye, CFA, Chief Investment Officer at Access Pensions, shared some of the challenges surrounding impact investment. He pointed out the need for transparency in fund manager track records, adding that, “Governance is also critical, as investors need to be able to hold fund managers accountable and engage in regular sessions to ease collaborations and resolve any conflict amicably”
Yacouba Ouedraogo, PhD, Member, Impact Investing Taskforce, Burkina Faso elaborated on expanding cross-regional investments to build resilient financing ecosystems for long-term development.
Mezuo Nwuneli, Co-Founder and Managing Partner at Sahel Capital , addressed the importance of data-sharing and relationships in impact investing. According to him, “those with deeper relationships can secure better deals and collaborations.”
Akinropo Omoware Esq., Head of Component at Sustainable and Inclusive Economic Development for Decent Employment in Nigeria (SEDIN) Programme, emphasized on the role of the government in creating incentives and parameters for impact investment. He laid emphasis on the need for clear messages and measurement parameters to assess the impact of incentives.
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