Impact Investing Ghana begins the setup of its Ci-Gaba fund of funds as it aims to make USD 75 million available through local and international funding for Ghanaian capital providers.
Impact Investing Ghana has begun the operational setup of its Ci-Gaba fund of funds, which aims to unlock USD 75 million in local and international funding for local capital providers. The aim is to provide funds for investments into small and medium enterprises (SMEs) in order to advance the Sustainable Development Goals (SDGs) in Ghana. The fund of funds will begin operations thanks to a grant from the UK Foreign Commonwealth and Development Office (FCDO) RISA Fund and will secure anchor funders and launch.
Impact Investing Ghana
Impact Investing Ghana is a private sector-led initiative that aims to create a vibrant ecosystem for impact investing within Ghana. Impact Investing Ghana is an independent organization that aims to promote sustainable development while advancing impact development. The organization aims to foster collaboration between various stakeholders in order to redirect capital flows toward social and environment impact. The aim is to create funding sources for businesses in Ghana and across West Africa.
Ghanaian and West African investments
The fund of funds, the first domiciled in Ghana, will invest locally and across West Africa. “It has been a pleasure over the last year to participate in a very engaging consultative process with local pension funds, foundations, international development partners and development finance institutions to contribute to the design and we are excited to have hit this critical milestone of beginning operational setup,” said CEO Amma Lartey.
RISA Fund team leader Michele Bradford said she was delighted to see the fund of funds commence its operational setup, “Impact Investing Ghana’s initiative aims to strengthen the innovation ecosystem by increasing access to finance through innovative vehicles. We are excited that IIGH is creating a sustainable financing vehicle that can be replicated and shared with partners across our regional portfolio,” she said.
Ghana’s efforts to boost its digital economy
Ghana recently joined the Digital Cooperation Organization (DCO), an international organization that aims to create a common digital economy agenda. Ghana has made advancements in its digital economy and is currently one of the sub-Saharan African states with the highest rates of ICT adoption.