Launch of fund of funds in Ghana provides $75 M for local capital providers
Impact Investing Ghana (IIGh) has started the operational setup of its Ci-Gaba fund of funds, which aims to make US $75 million in local and foreign funding available to local capital providers who are investing in small and medium-sized enterprises (SMEs) to advance the Sustainable Development Goals (SDGs).
A private sector-led effort called Impact Investing Ghana works to create a robust impact investment ecosystem in Ghana. The UK Foreign Commonwealth and Development Office (FCDO) RISA Fund has awarded a grant to the fund of funds, enabling it to set up its operations, find anchor sponsors, and launch.
The first fund of funds run by the private sector with domicile in Ghana will invest regionally and all 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.
Michele Bradford, the team leader for the RISA Fund, expressed her joy at the start of the fund of funds’ 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.
