…to accelerate catalytic capital deployment in sub region

The second edition of the West Africa Deal Summit will be held this year in Lagos, Nigeria’s commercial capital, from November 12th to 13th, 2024 at the Civic Centre, Victoria Island, Lagos State. The convening, which usually brings together the crème de la crème in the global impact investing space, is organised by the Impact Investors Foundation, Nigeria (IIF) and Impact Investing Ghana (IIGh) adding that further information on the programme can be accessed through www.westafricadealsummit.org.

IIF and IIGh jointly made the disclosure yesterday, noting that 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 last year’s inaugural summit.

Expanding upon the accomplishments of last year’s gathering, the two-day hybrid summit will feature panel sessions and expert presentations on key themes such as Financing Africa’s Future, Impact Measurement and Management, Mainstreaming Impact Investing Policies, Green financing, ESG and Impact Investing integrations. There will also be an opportunity for direct engagement with investors and enterprises at the deal rooms, Impact Fund showcase; celebrate impact heroes at the 6th Annual Award for Impact Investing and an opportunity to undertake a Study Tour to Ghana to understand Ghanaian investment landscape.

“The summit, organised 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, will bring together a diverse audience to develop action-oriented strategies aimed at accelerating the deployment of catalytic capital. This esteemed assembly includes leaders, impact investors, fund managers, development finance institutions, philanthropic organisations, government representatives, local and international NGOs, and social enterprises,” IIF said.

It should be noted that the inaugural summit was attended by over 300 delegates and received commitments from catalytic capital providers to bridge the $331 billion SME financing gap in the sub-region. These efforts are crucial for building local financing ecosystems and increasing financing for SMEs in the sub-region.

“Hosting the second edition of the West Africa Deal Summit underscores our strategic role in catalysing cross sub-regional investments. Our commitment to supporting the fundraising needs of innovative enterprises in West Africa aligns seamlessly with the summit’s focus on driving actions for mobilising catalytic capital,” Etemore Glover, CEO, Impact Investors Foundation (IIF) Nigeria, said.

“The dedication of Nigeria to economic diversification, thriving business environment, trade and investment makes it the perfect destination for inspiring discussion and connections that will lead to meaningful partnerships,” she added.

According to Amma Lartey, CEO, Impact Investing Ghana, the summit will help lay the groundwork for resilience and inclusive economic growth in the West Africa sub region.

“We are not only addressing the financing needs of SMEs but also laying the groundwork for a resilient and inclusive economic future at this year’s summit. Together with our partners, we are poised to create actionable strategies that will transform the landscape of impact investing in West Africa,” Amma Lartey said.

In the views of Yacouba Ouedraogo, Member of Impact Investing Taskforce in Burkina Faso, this year’s summit will take on an expanded agenda with a view to uniting the players in the sub region.

“Building on the success of our inaugural summit, WADS 2024 takes on an expanded agenda, uniting West Africa’s leading impact investors, regulators and industry stakeholders to improve our capacity to unlock more catalytic capital investment for long-term sustainable and inclusive growth,” Ouedraogo said.

Bowel Diop, Member of Impact Investing Taskforce in Senegal, said, “We need to go beyond conversations to address the barriers that limit the flow of catalytic capital to West Africa. We need more connections, networking, collaboration and collective action to address the challenges we face in mobilising finance.”

About the Impact Investors Foundation

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.

About Impact Investing Ghana

Impact Investing Ghana (IIGh) is the Ghana National Partner for GSG Impact. We are an independent private-sector-led initiative promoting sustainable development and advancing the development of the impact investment ecosystem in Ghana. IIGh is Ghana’s representative to the Global Steering Group (GSG) for Impact Investing and a member of the Africa Impact Investing Group. IIGh is supporting the growth of impact ventures and catalyzing $ 1 billion in impact funds for investment in Ghana and the West African sub-region. Find more here www.impactinvestinggh.org.