Africa Impact Investing Group(AIIG), at an event held in Cape Town, Republic of South Africa this week, announced its official launch with a view to mobilising capital for transformative change and sustainable development in Africa. The launch is part of the broader efforts to boost the impact investing ecosystem in Africa by fostering collaboration and knowledge exchange throughout the African region.
According to the body, AIIG aims to create a stronger foundation for impact investing initiatives throughout the region. AIIG’s objectives encompass not only the mobilization of capital but also the promotion of sustainable business models, the advancement of social and environmental causes, and the fostering of partnerships that empower local communities.
“Through collaborative efforts, AIIG seeks to channel investments towards key sectors such as healthcare, education, renewable energy, agriculture, and technology, creating a lasting positive influence on the lives of Africans,” the body said in a statement.
AIIG is an active and vibrant community of stakeholders, including policymakers, investors, entrepreneurs, and civil society, dedicated to driving capital to areas where it can generate the greatest impact while delivering financial returns. It brings together African National Advisory Boards (NABs) for Impact Investing and Task Forces.
According to the statement released by AIIG, the National Advisory Boards from Nigeria, Ghana, South Africa and Zambia as well as taskforce leaders from Kenya, Senegal, Egypt, Burkina Faso, Mauritius and Cote D’Ivoire have made commitment to support the creation of enabling policies and regulatory frameworks that would make impact investing to thrive in Africa via the engagement of governments across the region, multilateral institutions as well as other important stakeholders.
Etemore Glover, CEO, Impact Investors Foundation and Nigerian National Advisory Board of Impact Investing called on African leaders to support impact investing on the continent in order to build a prosperous Africa.
She said African leaders should join in mobilising capital from institutional investors, foundations, family offices and high networth individuals for impact-focused enterprises in Africa.
Elias Masilela, Chairman of DNA Economics and Board Chair of Impact Investing South Africa said Africa offers credible investment opportunities to investors.
She said: “As home to the world’s youngest population and with the new free trade agreement AfCFTA (African Continental Free Trade Area) creating the largest free trade area in the world, the continent has the potential to experience tremendous economic growth this century. But to capitalize on these opportunities we need to equip investors with a better understanding of pipeline opportunities and tap into innovative financing mechanisms and work together to de-risk and grow the market.
“Our institutional investors also have a role to play, especially life insurers and pension funds” adds Monica Rossi, Secretariat Lead for Impact Investing South Africa, the South African National Advisory Board on impact investing. “As asset owners, they can promote an impact investing approach to investment allocations, have the scale to partner with the public sector in funding sustainable development, have the voice to inform enabling regulatory policy, and are already making substantial capital allocations to private market assets where these might present a greater opportunity for shaping impact-outcome objectives over the longer term.”
Amma Lartey, CEO of Impact Investing Ghana said AIIG stands for a transformative opportunity for Africa.
“By leveraging the power of impact investing, we can unlock the potential for inclusive growth, improve livelihoods, and address pressing challenges. Through our collective efforts, we strive to make a meaningful difference in the lives of individuals and communities across the continent”, Amma Lartey said.
