Impact Investors Foundation Holds Second Annual Convention
Impact Investors Foundation held its Second Annual Convention on 10 October at the Oriental Hotel, Lagos. The event was themed Blending Finance for Social Investment in Nigeria: Opportunities and Challenges. The key players in Nigerian finance gathered to exchange ideas on how to expand the frontiers of blended finance i.e. investment that achieves social goals while also making a profit, in Nigeria.
Developed ten years ago through the efforts of philanthropists and financiers, the impact investment sub-sector financed projects worth $32 billion in 2018. Nigeria, has received $124million in of impact investment capital, second only to Ghana, which has attracted $195million, in Sub-Saharan Africa. These funds are mostly channeled into high-growth companies in financial services, insurance, healthcare and pharmaceuticals, areas critical to alleviating poverty and boosting growth.
A keynote speech on Impact Investing and Blended Finance: A Global Landscape and lessons learned was given by Jennifer Pryce, President/CEO, Calvert Capital, Washington DC. Experienced international speakers shared their insights on two panels: the Role of Government, DFIs and Philanthropy in De-risking Social Investments in Nigeria and Structuring Blended Finance Vehicles: Approaches that Work. Speakers emphasized how concessionary capital could spur private sector investment in areas such as education, health, housing, energy and infrastructure, thus boosting Nigeria’s capability to attain the Sustainable Development Goals (SDGs).
The sessions were followed by The IIF Deal Summit in the afternoon and the Dinner and Awards ceremony where awards were presented to deserving players in impact investing in Nigeria, in the evening.
