He added that the meeting with stakeholders served as a formal announcement of the Federal Government’s financial commitment to the Wholesale Impact Investment Fund and flag-off for engagement with a wider array of stakeholders to unlock local private investments, using capital from public sources for sustainable funding of enterprises with social and environmental relevance.
Agba urged investors to consider the opportunities available through impact investing, which could lead to tremendous social and economic benefits for communities across Nigeria. He also suggested exploring ways to increase impact investing activity to grow the market, advance portfolios, and deepen the impact of each individual investment, adding that the technical committee for the establishment of the fund was set to provide more details on how everyone can be involved in the process.
According to him, “The initiative of a Wholesale Impact Investment Fund by the National Advisory Board for Impact Investing in close collaboration with the European Union, the German Agency for International Development and Ford Foundation is heartily received as an alternative instrument for effective implementation of public welfare and social schemes.
“It is worthy to note that the capital deployed for impact investing in Nigeria increased by 147 per cent from $ 1.9bn in 2015 to $4.7bn in 2019 before a decline to $ 2.7bn in 2021 due to the COVID-19 pandemic.”All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from PUNCH.