Impact Investing Ghana (IIGh), Ghana’s representative to the Global Steering Group for Impact Investing has launched a report on ‘The Impact Investing in Ghana: Unlocking Private Sector Capital for Profit and Impact’ at La Villa Boutique Hotel in Osu.
Together with research partner, Design Thinking Ghana Hub, the report provides an in-depth visual into Ghana’s Impact Investing space; where we’re strongest and what key gaps are preventing private sector funding from being unlocked profitably for investment and development.
The event brought together stakeholders, both private and public and engaged them strategically in taking the highlights of the research to drive positive action on increasing accessibility and availability of patient capital.
Access to accurate data on existing private sector investments is a key constraint to various organizations wanting to invest in Ghana and West Africa. As an organisation, Impact Investing Ghana has one goal; driving collaboration to significantly increase private sector funding for development. This is why the report is a major milestone and resource for stakeholders to work together to build a more prosperous Ghana.
Speaking at the event, Sean Duggan, an Investment Promotion Expert with the European Union (EU) funded Investment Promotion and Business Linkages Project (the Project) highlighted how impressive it is that Ghana is beginning to articulate the gaps and failures in the investment space.
He expressed that this is fundamentally important to be able to get the market to work the way Ghanaians want it to work. ‘This research is critical to understanding how the investment market could work effectively and efficiently and deliver the kind of outcomes that the country wants and needs.’
The CEO of IIGh, Amma Lartey who also spoke at the event added that ‘the report will share what data shows is needed to happen for Ghana to generate the funding it needs from the private sector to fuel its development and set the stage for this action to begin. The private sector is what drives growth in most countries and Ghana is no exception. What we need is access to patient capital if we are to support the growth of a stronger, more robust entrepreneurial ecosystem which is why unlocking pension funds are so important’.
The State of Impact Investing comes after a year of research, over 200 stakeholder engagements and interviews, 6000 hours of secondary research and a validation workshop.
It is a collaborative project, with input from other key organisations in the ecosystem including the Private Enterprise Federation, Venture Capital Trust Fund, Chamber of Corporate Trustees of Ghana, Ghana Securities Industry Association, Ghana Enterprise Agency, National Entrepreneurship and Innovation Programme, Social Enterprise Ghana, Design Thinking Ghana Hub, Ghana Hubs Network and Ghana Venture Capital and Private Equity Association (GVCA). The project is funded by Social Enterprise Ghana, British Council and RISA UKAID.
Download the report summary https://impactinvestinggh.org/publications/the-state-of-impact-investing-in-ghana-unlocking-private-sector-capital-for-profit-and-impact-22/
Impact Investing Ghana (IIGh) is the Ghana National Advisory Board for Impact Investing. We are an independent private-sector led initiative promoting sustainable development and advancing the development of the impact investment ecosystem in Ghana.
Established as a nonprofit, IIGh is Ghana’s representative to the Global Steering Group (GSG) for Impact Investing, the successor to the Social Impact Investment Taskforce established by the G8. The GSG’s National Advisory Boards (NABs) currently cover 33 countries and provide a global platform to drive investment and increase visibility for its members globally.
IIGh aims at tackling Ghana’s pressing social and environmental challenges by driving more capital to deliver real impact. We are a local platform representing all the stakeholder groups needed to redirect significant capital flows towards social and environmental impact. Private-sector led, yet in close partnership with the national government, we raise awareness, create market intelligence, change policies, and mobilize additional financial resources for public good.
IIGh brings together leaders from the worlds of finance, business, government, social organizations and philanthropy. IIGh has an ambitious plan to support the growth of impact ventures and to catalyze $5billion in impact funds for investment in impact ventures in Ghana and the West African sub-region prioritizing areas including reducing underemployment and unemployment, reducing inequality gaps and addressing climate and environmental issues.