Impact Investors Foundation
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Our overarching goal is to promote the growth and culture of impact investing in Nigeria.
Formerly known as the Impact Investing Alliance of Nigeria (IIAN), IIF was founded in 2019 as a multi-sector collaborative comprising the Ford Foundation, Africa Capital Alliance, BusinessDay Media, Bank of Industry and Dalberg Advisors.
Stakeholders are critical to our work. For this reason, IIF collaborates with them to unlock private capital for social investments in Nigeria. We are committed to eliminating the barriers to impact investing by building an effective ecosystem that supports the growth of investment pipelines and sustainable impact.
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The Deputy Speaker of the House of Representatives, Rt. Hon. Benjamin Okezie Kalu, has set up advocacy and legislative working groups for the establishment of a legal policy framework for philanthropy and impact investing in Nigeria, saying the framework will help to increase capital flow for development, create jobs and reduce poverty rate in the country.
This blog post dives into the key takeaways from the 2024 Investors Roundtable, offering valuable insights for investors, entrepreneurs, and organisations working in impact investing across Africa.
A 3-year Catalytic Capital Africa (2CAfrica) campaign was launched to increase SME financing and build local financing ecosystems.
The Federal Government has given its official endorsement and support for the establishment of the Nigerian Wholesale Impact Investment Fund (WIIF) and committed to providing 50% seed capital for its take-off.
This report takes stock of progress made on The Impact Taskforce's original recommendations to the UK G7 Presidency put forward in Time to Deliver: Mobilising private capital at scale for people and planet. The ITF's work continues to be organised around the two core themes of impact transparency and capital mobilization in support of a Just Transition.
In the 2015 Global Impact Investing Network (GIIN) study, ‘The Landscape for Impact Investing in West Africa’, Nigeria and Ghana represented more than half (54%) of impact investing capital in the region, with Nigeria receiving 29% and Ghana receiving 25% of the capital deployed.
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On July 13-14, 2023 in Cape Town, South Africa the Africa impact investing community hosted the maiden edition of the Africa Impact Summit, a groundbreaking event that brought together experts, investors, accelerators, and changemakers from across the Continent and beyond to discuss how to unleash Africa’s potential through impact investing.
The Nigerian National Advisory Board for Impact Investing (NABII) has launched its report, “Investing for Impact in Nigeria: A Deep Dive into Agriculture, Education, and Health Sectors”. It reveals that the Nigerian financial market has limited capacity to cater to MSME funding demands such as equity funding, grants, low-cost debt financing and patient capital.
Lagos, Nigeria – January 21, 2025 – The Impact Investors Foundation (IIF) is proud to announce the appointment of Frank Aigbogun, Publisher of BusinessDay Media, as the new Chairman of the IIF Board of Trustees, following the retirement of the former Chairman, Engr. Afolabi Oladele. Under his leadership, IIF will deepen its influence in shaping the country's impact investment landscape, fostering collaboration among stakeholders, and championing innovative solutions that address Nigeria's most critical challenges.
Mr. Aigbogun brings several years of exceptional leadership, management, influence and significant contributions to advancing and promoting impact investing in the media space. He started his career as a journalist and later became the publisher of BusinessDay newspaper, which he co-founded in 2001. He began his journalism career at The Guardian newspaper and moved on to Vanguard newspaper where he rose to the position of editor of all the titles of the newspaper. He served for many years as the Lagos correspondent of the Associated Press, AP. Mr. Aigbogun holds a degree in Mass Communication and is an alumnus of the Lagos Business School. Mr. Aigbogun was a member of the Vision 2010, assigned by the government to formulate a long-term economic vision for Nigeria. Notably, he served as the alternate rapporteur for the sub-committee on competition and deregulation. He has also served on the governing board of Nigeria’s National Competitiveness Council.
Commenting on his appointment, Aigbogun, said, “This is an exciting opportunity to contribute to shaping the trajectory of impact investing at a time when investments that deliver meaningful and measurable change for Nigeria have become even more paramount. As one driven by continuous growth and innovation, I firmly believe that through collaborative efforts, we can achieve meaningful progress within our industry.”
The Nigerian National Advisory Board on Impact Investing (NABII), an advisory board under IIF, is equally delighted to welcome two prominent industry leaders. Tokunboh Ishmael, Managing Director and Co-Founder of Alitheia Capital, and Gbenga Hassan, Managing Partner at Argentil Capital, join NABII with their wealth of experience and expertise in Impact Investing, Gender Lens Investing, Fund Management, Venture Capital and Private Equity. As the Chair of IIF, Aigbogun also joined the NABII as Vice Chair of the Advisory Board. Their addition underscores NABII’s commitment to harnessing exceptional talent to accelerate the growth of Nigeria’s impact investment ecosystem.
Ishmael said, “Joining NABII provides a unique opportunity to contribute to the scaling of impactful solutions that address societal challenges while driving economic growth. I look forward to working with this dynamic team to advance our shared vision.”
Hassan added, “Impact investing holds the power to unlock Nigeria’s potential and create lasting value. I am excited to join NABII in its mission to mobilise capital and inspire action for sustainable development.”
Ishmael is a renowned advocate and pioneer of impact, fintech, and gender lens investing. Over the past two decades, she has been a leader in creating innovative financial solutions that address systemic inequalities to achieve inclusive and shared prosperity. As Manager Director and Co-Founder of Alitheia Capital, a female-led private equity firm that embodies the philosophy ‘profit with purpose’, she is a leader in the mainstreaming of impact investing within the private equity asset class. Ishmael also co-founded Alitheia IDF where she raised over $100 million, establishing the first and largest Gender Lens fund to invest in female-led businesses across Africa. Some of the companies where she has invested are already changing and redefining their sector. Prior to founding Alitheia Capital, Ishmael worked at Salomon Brothers on Wall Street, New York, where she conducted over $5 billion in M&A transactions. She also previously led the establishment of the private equity firm, Aureos Capital, in West Africa and the development of Avante Capital where she led M&A activity for the Ocean and Oil group. Her extensive experience in fund management and investment strategy makes her an invaluable asset to NABII.
Hassan brings over two decades of leadership in venture capital, private equity, and financial services. As Managing Partner and co-founder at Argentil Capital, he has led transformative investments across sectors, driving sustainable growth and innovation. His expertise in structuring deals and managing portfolios will play a key role in advancing NABII’s objectives. He has led key investments including Sygen Pharmaceuticals and First Modular Gas Systems Limited and Àrgentil’s investments into two fund managers and early-stage investments. Previously, Gbenga was responsible for identifying, originating, and executing private equity transactions in West Africa at Aureos Capital, specialising in deal structuring, valuation, and portfolio management. He also worked with Standard Bank London and Stanbic Bank Nigeria in various corporate and project finance roles.
Etemore Glover, CEO of Impact Investors Foundation, said, “Given the new board members' impressive careers championing sustainable investment and driving transformative change, I am confident that their diverse and extensive skillsets, combined with their vast experience in industry will play a pivotal role in helping to steer the direction of the foundation.”
Under the guidance of Aigbogun and with the strategic expertise of Ishmael and Hassan, IIF and NABII are well-positioned to drive impactful investments, foster economic empowerment, and promote sustainable development in Nigeria. These appointments reflect a shared commitment to shaping a thriving impact economy and unlocking new opportunities for growth and resilience.
About the Impact Investors Foundation (IIF)
The Impact Investors Foundation (IIF) engages and collaborates with key stakeholders, active in the impact investing space, to unlock private capital for social investments in Nigeria. IIF’s overarching goal is to promote the growth and excellence of impact investing in Nigeria. In the last 5 years, IIF has been playing a leading role in the impact investing ecosystem in Nigeria by convening stakeholders in government, private and social sectors to advance its growth. In furtherance of its effort to accelerate the market potential, the IIF established the Nigerian National Advisory Board for Impact Investing (NABII), . The role of the NABII is to design and implement national strategies, regulations and policies that address the barriers inhibiting the growth of impact investing while unlocking opportunities for more impactful investments. Visit www.impactinvestorsfoundation.org to learn more.
Discover the essential criteria impact investors look for when considering funding opportunities for social enterprises
Understanding Impact Investing
The investment landscape has undergone changes over the years with more investors being intentional about making a positive change with their investments. This category of investors are committed to making a difference in the world while seeking financial gains. They prioritise sustainable business models that demonstrate social and environmental impact in their mission. The business models they consider address the world’s most pressing challenges such as poverty, inequality, climate change, access to quality education, food, clean water and healthcare just to mention a few.
To appeal to impact investors, social enterprises need to understand the fundamentals of impact investing and how it aligns with their business goals. This includes being aware of the various impact themes and sectors investors are interested in, such as climate adaptation, renewable energy, sustainable agriculture, education, healthcare, and more.
Key Business Structures for Impact Investment
When it comes to impact investment, several business structures are particularly attractive to investors. Entrepreneurs should consider structuring their businesses in a way that aligns with these models to attract impact investors.
These include:
Social enterprises: These are businesses with a social or environmental mission at their core. They aim to generate both social impact and financial returns.
Inclusive businesses: These are commercially-viable business lines deliberately designed to achieve social impact among the base of the pyramid. Such companies are typically highly innovative, highly productive, achieve good returns and are mostly medium to large-sized firms.
B Corps: B Corps are for-profit companies that are certified to meet rigorous standards of social and environmental performance, accountability, and transparency.
Non-profit organisations: While impact investing is often associated with for-profit ventures, non-profit organisations can also benefit from impact investment funding. They need to demonstrate a sustainable business model and a clear path to creating social impact.
Meeting Social and Environmental Criteria
One of the key criteria impact investors look for is a strong commitment to social and environmental impact. Entrepreneurs need to have a clear business model that demonstrates the intention to address critical social or environmental challenges. It is also important to have a business plan that explains the business objective, the change it aims to create and plans for generating revenue.
This includes having a well-defined mission statement that articulates the social and/or environmental problem the business aims to solve, as well as measurable goals and impact metrics. Entrepreneurs should also consider how their businesses can contribute to the United Nations Sustainable Development Goals (SDGs). For instance, Eja-Ice is addressing the poor cold chain infrastructure in Africa’s food systems caused by inconsistent power supply from the national grid by producing solar-powered refrigeration and cold chain services. This is solving the cold chain problem, for families, retailers, food producers and corporations in Africa while meeting that SDG 7 – Affordable and Clean Energy, Goal 13 – Climate Action, and Goal 3 – Good Health and Well-being.
Furthermore, impact investors often prioritise businesses with a strong track record of stakeholder engagement, diversity and inclusion, and ethical practices. Entrepreneurs need to showcase their commitment to these values. One way HelpMum, a social enterprise in Nigeria, is showcasing its commitment to these values is by addressing high maternal and infant mortality rates in remote rural areas in Nigeria by deploying innovation that bridges the healthcare knowledge gaps, improve immunisation of children by 45%, helped 15,417 pregnant women have safe delivery and equipped 2,165 birth attendants and health workers with e-learning tools while working with the relevant stakeholders and the government.
Financial Performance Considerations
While impact investors are driven by the desire to create positive change, they also expect a financial return on their investments. Enterprises should demonstrate that their businesses have solid financial performance and growth potential.
This includes providing a clear business plan, financial projections, and evidence of revenue generation. They should also demonstrate how their businesses can achieve financial sustainability without relying solely on impact investment funding. They should note that impact investors’ expected returns range from below market or concessionary rates to risk-adjusted market rates.
Developing an Impact Measurement Methodology
Additionally, impact investors appreciate businesses that have a robust impact measurement, management and reporting system in place. Entrepreneurs must be able to monitor and report to investors on the social and environmental outcomes of their companies. This captures the actual changes that stakeholders are experiencing, going beyond typical indicators. Accurate impact measurement and management provides valuable information that can guide strategic decisions. High-quality data is necessary for accurate impact measurement and management. Key actions to be taken include putting in place reliable data collection techniques and routinely assessing the quality of the data.
Reporting Social and Environmental Performance and Progress
Traditional methods focus on numbers such as the number of stakeholders reached or the percentage improvement in stakeholder behaviour but fail to capture the voices and experiences of stakeholders. Both qualitative and quantitative reporting are crucial for impact reporting. Examples of qualitative data may be case studies, interviews, and testimonies that give a story behind the data and show the actual changes that stakeholders have gone through.
When the influence of the business is communicated effectively, it guarantees that all parties involved comprehend and appreciate the impact, opening up opportunities for continuous support and collaboration.
Building Relationships with Impact Investors
Building strong relationships with impact investors is crucial for enterprises seeking funding. It is important to understand the investor's values and impact priorities and tailor the business pitch accordingly. A resource that identifies impact funders in healthcare, agriculture, education in Nigeria, such as this IIF report, may be helpful as you fundraise to scale your social enterprise.
Entrepreneurs should engage with impact investors through networking events, conferences, and online platforms. They should also leverage their existing networks and seek introductions to impact investors through mentors, advisors, and industry associations. An industry gathering such as the Annual Convening for Impact Investment and the West Africa Deal Summit 2024 is a platform to establish these connections and foster relationships with local and international investors.
In conclusion, businesses that are able to meet these fundamental requirements would be better positioned to attract impact capital and can start their fundraising efforts by signing up to the Deal Source Africa, a platform where they can connect to potential investors.
The Nigeria Impact Investing Research and Industry Collaborative (NIIRIC) established in 2024 by GSG Nigeria Partner and steered by 10 leading organisations from the academia, research, industry and nonprofit will host its First NIIRIC Policy Dialogue on Impact Investing under the theme: Scaling Impact Investing: Unlocking Pension and Insurance Funds for Venture Capital and Private Equity Firms in Nigeria.
The NIIRIC policy dialogue on Impact Investing is a strategic event designed to address one of the most pressing challenges in Nigeria’s impact investing ecosystem: unlocking domestic institutional capital, specifically pension and insurance funds, for investment into high-impact sectors through venture capital and private equity.
Event Details
The dialogue will bring together key stakeholders across government, regulatory institutions, pension and insurance industries, private equity/venture capital firms, development finance institutions, and ecosystem enablers. The objective is to examine current policy and regulatory constraints, share global and regional best practices, and explore innovative financing models and strategic pathways that can de-risk and enable institutional investments in support of Nigeria’s sustainable development goals.
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Join us live for the Corporate Philanthropy Webinar and be inspired and challenged by meaningful conversations on philanthropy and impact investing.
The path to sustainable economic development in West Africa requires innovative financing approaches and strategic partnerships. The recently concluded 2nd West Africa Deal Summit 2024 and 7th Annual Convening on Impact Investing brought these critical conversations to the forefront, offering actionable insights for stakeholders across the investment ecosystem.
Held on November 12-13, 2024, at the Civic Centre in Lagos, this landmark event convened policymakers, investors, entrepreneurs, and development practitioners from across the region. The summit addressed one of West Africa's most pressing challenges: the $331 billion capital gap that continues to constrain SME growth, job creation, and sustainable development.
Hosted by Impact Investors Foundation and Impact Investing Ghana, in collaboration with Impact Investing Taskforces from Senegal, Burkina Faso, and Côte d'Ivoire, the summit featured 32 interactive sessions exploring impact investing, sustainable financing, cross-border collaboration, gender-responsive procurement, and climate adaptation initiatives.
The discussions revealed several persistent challenges facing the region:
However, the summit also highlighted emerging opportunities:
The summit produced eight key recommendations to accelerate the flow of catalytic capital in West Africa:
The newly launched report, "CONTEXT MAPPING AND MARKET LANDSCAPE FOR CATALYTIC CAPITAL IN NIGERIA" , is a groundbreaking resource designed to accelerate the growth of the impact investing ecosystem in Nigeria. Developed by the Impact Investors Foundation and the Nigeria Philanthropy Office, this report explores how catalytic capital can bridge financing gaps for Micro, Small, and Medium Enterprises (MSMEs)—a sector that employs over 80% of Nigeria's workforce and plays a vital role in the economy.
This report is a must-read for anyone passionate about driving sustainable development and economic transformation in Nigeria. Here’s why:
Catalytic capital, as highlighted in the report, is a transformative tool that takes on higher risks and lower returns to unlock investments in sectors that traditional financing methods often overlook. This form of capital is crucial for:
Impact Investing Ghana (IIGh) and Impact Investors Foundation (IIF) Nigeria, have received a US$545,256 additional grant funding from The Research and Innovation Systems for Africa (RISA) Fund to scale sustainable systems for enterprise and innovation financing across Ghana and Nigeria through the Deal Source Africa and Enterprise Support Organisation programs as part of the second phase of RISA Fund’s Scaling Systems for Research & Innovation Financing (SSRIF II). This brings the total grants from the RISA Fund to Impact Investing Ghana to US$1,079,602.
The Federal Ministry of Finance, Budget and National Planning, in partnership with the National Advisory Board on Impact Investing (NABII), is calling on interested fund managers or consortium of fund managers to submit applications for the management of a $1 billion (naira-denominated) Wholesale Impact Investment Fund (WIIF).
The $1 billion Wholesale Impact Investment Fund was established to address the critical financing gap faced by Nigeria's micro, small and medium-scale enterprises.
… NABII launches report that reveals the Nigeria market financing gaps for MSMEs
November 1, 2023, Lagos, Nigeria: Government officials, investors, global leaders, ecosystem builders, and development agencies in the impact investing ecosystem have outlined the transformative role catalytic capital could play in driving socioeconomic and inclusive growth in Nigeria.
With the 1st and 2nd editions of the Summit geared towards bridging the financing gap through women-centric policy advocacy, and the promotion of gender inclusive models, this year's summit marks a significant paradigm shift from advocacy to tangible action with the launch of a comprehensive Gender/GESI Roadmap. This roadmap contains concrete strategic interventions designed to dismantle the barriers faced by women-led and owned businesses, youth, and People with Disabilities (PwDs).
Theme: Investing in Equity: Advancing Gender-Led Solutions for Inclusive Development
Date: July 16, 2025
Venue: Civic Centre, Victoria Island, Lagos
Register: https://gs.impactinvestorsfoundation.org/
“We need to start to talk about money in ways that dethrone it and make it subject to human ethics and standards of love and decency.” - Joel Solomon (author of The Clean Money Revolution).
As the world grapples with pressing social and environmental challenges, impact investing has emerged as a powerful tool for generating positive change while ensuring financial returns.
The Impact Investors Foundation (IIF) in collaboration with the Global Steering Group for Impact Investment (GSG) and the Financial Reporting Council of Nigeria (FRC) has boosted the capacity of over 100 MSMEs, financial and sustainability professionals in the public and private sectors in the IFRS International Sustainability Standards Board’s (ISSB) Sustainability Disclosure Standards.
Nigeria stands at a critical juncture in its journey towards innovation-driven development. With a vast talent pool, emerging technology hubs, and increasing private sector engagement, the potential for impactful research and commercialisation has never been greater. However, persistent challenges, including fragmented collaboration, limited funding, and regulatory hurdles continue to slow progress.
The NIIRIC Stakeholder Mapping Report provides a deep dive into Nigeria’s research and innovation ecosystem, identifying key stakeholders, gaps, and actionable recommendations to drive collaboration, investment, and commercialization. If you are a policymaker, investor, entrepreneur, or researcher, this report is a must-read to understand and engage in shaping Nigeria’s innovation landscape.
🔹 Key Challenges in Nigeria’s Innovation Ecosystem – Explore the barriers hindering the commercialization of research, including regulatory fragmentation, funding shortages, and weak academia-industry partnerships.
🔹 Opportunities for Strategic Collaboration – Identify how research institutions, industry leaders, and policymakers can work together to create a more efficient and impactful innovation environment.
🔹 Actionable Recommendations – Get insights into concrete steps for bridging gaps, such as strengthening public-private partnerships, enhancing funding mechanisms, and fostering commercialization pathways.
🔹 Case Studies of Successful Innovations – Learn from real-world examples of how targeted interventions have led to scalable and market-ready innovations.
✔ Investors & Venture Capitalists – Discover high-impact opportunities for funding research-driven businesses.
✔ Policymakers & Regulators – Gain insights into policy frameworks that can drive sustainable innovation.
✔ Entrepreneurs & Startups – Understand how to leverage partnerships and funding to scale your innovations.
✔ Academics & Researchers – Learn how to align research outputs with industry needs for greater impact.
As global expectations and standards around transparency and sustainability continue to evolve, so also do the challenges facing companies of all sizes.
The Impact Investors Foundation (IIF), the Nigerian National Advisory Board for Impact Investing and GSG Impact, invite senior leaders across Nigeria to discuss and shape the future of sustainability management and reporting at a virtual to a virtual workshop. This session will bring together leaders from large corporations subject to impact and sustainability reporting requirements as well as SMEs working with these types of companies.Together, participants will work to address a shared and pressing priority: how to make sustainability management and reporting work for all.
Workshop Details
Date: June 30, 2025
Time: 2 PM WAT
Duration: 90 minutes
Register: bit.ly/ReportinginAfrica
The Impact Investors Foundation, Nigeria (IIF) and Impact Investing Ghana (IIGh) announce the return of the second edition of the West Africa Deal Summit 2024 (www.westafricadealsummit.org) scheduled for 12th and 13th November 2024, at the Civic Centre, Lagos, Nigeria. The two-day summit is hosted alongside Impact Investing Taskforces in Senegal, Burkina Faso and Cote d’Ivoire, under the theme "Actions to Deepen Catalytic Capital in West Africa," focusing on reviewing progress and commitments made towards deploying catalytic capital to grow SMEs across Africa. This follows the launch of the Catalytic Capital Africa (2CAfrica) campaign at the inaugural summit last year.
The Impact Investors Foundation (IIF) has released a groundbreaking report highlighting the transformative potential of catalytic capital in supporting Nigeria's Micro, Small, and Medium Enterprises (MSMEs). This report delves into the critical role that catalytic capital can play in enhancing growth and social impact within the MSME sector, a backbone of Nigeria's economy.
Despite their significance, MSMEs face considerable challenges, especially in securing financing that aligns with their needs. The IIF report not only sheds light on these issues but also synthesizes valuable insights from experts and case studies to present a blueprint for integrating catalytic capital into Nigeria’s economic development strategies.
The report aims to:
The report identifies several key insights:
The report highlights persistent challenges that MSMEs and investors encounter, including:
The report also identifies promising opportunities for strengthening Nigeria’s impact investment landscape, such as:
To fully realize the potential of catalytic capital in Nigeria, the report presents the following key recommendations:
The report concludes that addressing MSME challenges and enhancing catalytic capital’s deployment are essential for Nigeria’s sustainable growth. By implementing the report’s recommendations, stakeholders can foster an environment where MSMEs thrive, ultimately strengthening Nigeria’s economy and creating a lasting positive impact on society.
The Impact Investors Foundation (IIF), Nigeria’s leading platform for unlocking impact capital, has successfully hosted the first Gender Impact Investment Summit on November 16, 2023, in Lagos.
Nigeria’s MSMEs are the backbone of our economy, but are they truly investment-ready?
Many MSMEs struggle to secure funding, not because they lack potential, but because they lack the right investment readiness support. Ecosystem Support Organizations (ESOs) play a critical role in bridging this gap, but how can we scale their impact effectively?
The Africa Impact Summit is the leading forum that is driving networking, deal-making and impact investing thought leadership in Africa.
The Investors’ Roundtable presents an opportunity to pique investors’ interests ahead of the 2nd West African Deal Summit scheduled to be held on November 12-13, 2024 and the 2nd Gender Impact Summit, scheduled to be held on June 27.
… Nigeria has limited capacity to provide equity funding, grants, low-cost debt financing and patient capital for MSME
November 5, 2023, Lagos, Nigeria – The Nigerian National Advisory Board for Impact Investing (NABII) has today launched its report, “Investing for Impact in Nigeria: A Deep Dive into Agriculture, Education, and Health Sectors”. It reveals that the Nigerian financial market has limited capacity to cater to MSME funding demands such as equity funding, grants, low-cost debt financing and patient capital.
Lagos, Nigeria – August 22, 2024 – The Impact Investors Foundation (IIF) on Wednesday announced the launch of the Nigerian Impact Investing Research and Industry Collaborative (NIIRIC) at a grand event held at The Wheatbaker Lagos, Ikoyi. This groundbreaking initiative aims to catalyse the growth of Nigeria’s impact investing ecosystem by fostering collaboration, driving impactful research, and building capacity within the industry.
The NIIRIC aims to be the leading collaborative platform driving impactful research and industry engagement in Nigeria’s impact investing sector and was established with grant funding from FCDO’s Research and Innovation Systems for Africa (RISA) Fund. The NIIRIC’s mission is to coordinate, facilitate, and disseminate high-quality research, industry insights, and capacity-building programmes, that will strengthen the impact investing ecosystem in Nigeria.
Key dignitaries at the event include Mrs. Alice Omisore-Dada, the Country Technical Lead for Nigeria at RISA Fund; Dr. Chinyere Almona, Director General of Lagos Chamber of Commerce and Industry; Julius Lamptey, Senior Research and Policy Officer at Impact Investing Ghana; and Ms. Etermore Glover, CEO of Impact Investors Foundation.
“The launch of NIIRIC marks a pivotal moment for impact investing in Nigeria,” said Ms. Etemore Glover, CEO of the Impact Investors Foundation. “We believe that by harnessing the power of collaboration and research, we can unlock the immense potential of impact investing to drive sustainable development and create positive change.”
Alice Omisore-Dada, Country Lead for Research and Innovation Systems for Africa (RISA) Fund added, "The establishment of NIIRIC represents a significant milestone in our efforts to foster innovation and research in Africa's impact investing sector. By providing a platform for collaboration and knowledge sharing, we are confident that NIIRIC will play a crucial role in unlocking Nigeria's potential as a hub for sustainable and impactful investments."
The NIIRIC will focus on four key areas to achieve its mission. They are research and data generation, capacity building, policy advocacy and investor network development. At the event, eight (8) organisations were appointed as members of the Steering Committee of the NIIRIC. These organisations are Lagos Business School (LBS), Lagos Chamber of Commerce and Industry (LCCI), The Private Equity and Venture Capital Association (PEVCA), Ideanest Investments, International Center for Energy, Environment and Development (ICEED), ARI Initiative, Ashoka Africa and ACT Foundation.
The potential for impact investing in Nigeria is immense, with opportunities across various sectors including agriculture, healthcare, education, and renewable energy. The NIIRIC aims to position Nigeria as a leading impact investing hub in Africa by providing the necessary resources and support to industry stakeholders.
