Impact Investing Ghana (IIGh) has commenced the operational setup of its Ci-Gaba fund of funds.
This fund of funds aims to unlock US$75 million in local and international finance for local capital providers.
These local capital providers are investing in small and medium enterprises (SMEs) in order to promote the Sustainable Development Goals (SDGs).
A private sector-led effort called Impact Investing Ghana works to create a robust impact investing ecosystem in Ghana.
The fund of funds will be able to set up its operations, find anchor sponsors, and operate due to funding from the UK Foreign Commonwealth and Development Office (FCDO) RISA Fund.
We are delighted to have reached this crucial milestone of starting the operational setup. “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,” said CEO Amma Lartey.
The project of Impact Investing Ghana intends to boost the innovation ecosystem by enhancing access to funding using cutting-edge vehicles. The RISA Fund team lead, Michele Bradford, said, “We are thrilled that IIGH is developing a sustainable funding mechanism that can be reproduced and shared with partners across our regional portfolio.
The first fund of funds led by the private sector and based in Ghana will make investments both domestically and throughout West Africa.
Read more on Tech Gist Africa:
Farmerline, a company based in Ghana, has raised $1.5 million in a pre-series A funding round
Zeepay, a Ghanaian payment company, has secured a $10 million Series A.5 funding round
