Impact Investing Ghana (IIGh) and the Ghana Investment Support Programme funded by British International Investment (BII) have announced a partnership to increase the capacity of Fund Managers and Transaction Advisors in Ghana.
Although Ghana’s Private Equity and Venture Capital (PE/VC) industry is robust and growing, there is room for improvement in the areas of environmental, social, and governance (ESG) management, as well as impact measurement and management (IMM) practices. Additionally, small and medium-sized enterprises (SMEs) in Ghana require support to reach the standards necessary for PE/VC funding(“investor readiness”). This requires Transaction Advisors that offer high quality, affordable advisory services in line with Fund Manager requirements, hence the partnership.
The partnership will include mapping and capacity building for transaction advisors and connecting businesses and funds with transaction advisors as part of IIGh’s Deal Source Africa program. It will also include capacity building on IMM and ESG for fund managers.
In line with this, the first Transaction Advisors Ghana Workshop, a collaborative initiative by IIGh and BII through its Ghana Investment Support Programme (GISP) was held on 16th May 2023 at Labadi Beach Hotel. It empowered transaction advisors with valuable insights, knowledge-sharing opportunities and industry connections. The outcomes of the Transaction Advisors Ghana Workshop saw 25 Transaction Advisory companies and 37 Transaction Advisors capacities built on Investment Readiness, Due Diligence and ESG.
Kwabena Asante Poku, Ghana Coverage Director expressed his excitement about the partnership that will enhance the Private Equity/Venture Capital ecosystem in Ghana and support more capital flow into underserved SMEs. “Our joint efforts aim to improve the industry’s standards while promoting ESG and IMM practices. This will help SMEs achieve investor readiness and attract more funding to Ghana. By empowering SMEs and improving ESG practices, we can create sustainable economic impact”, he added.
Amma Lartey, CEO of Impact Investing Ghana said ‘Research done by IIGh identified insufficient transaction advisory services as a major gap holding back the flow of financing for SMEs. It also identified increasing the capacity of fund managers and other ecosystem players on impact measurement and management and ESG as an opportunity. We are delighted to partner with BII to begin to fill these gaps and are looking forward to seeing this increased capital flowing to SMEs and contributing to positive economic and social transformation.
On Tuesday, 27th June 2023, IIGh and BII’s GISP will organize a workshop for Fund Manager investment teams to increase their capacity to assess the governance needs and create value in their investee companies by helping these companies to build stronger corporate governance systems. To register, click herehttps://docs.google.com/forms/u/1/d/e/1FAIpQLSdS9XmJ4yDBb77KcglBTy2XmY55gkV2wU5s-X4JgmB6OV5F-w/viewform Other activities are planned for the rest of the year.
Ghana Investment Support Programme
Ghana Investment Support Programme is a technical assistance initiative of British International Investment, the UK’s development finance institution. By improving investment readiness and fund manager capabilities that support investments into and through intermediaries, it aims to increase investment flows to underserved SMEs and enhance development impact in Ghana.
Impact Investing Ghana (IIGh)
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. 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.
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 toward social and environmental impact, bringing together leaders from the worlds of finance, business, government, social organizations, and philanthropy. 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 the public good. IIGh has an ambitious plan to support the growth of impact ventures and to catalyze US$ 1 billion in impact funds for investment in impact ventures in Ghana and the West African sub-region.
