Accra, Ghana – Impact Investing Ghana, has received a grant from the Ford Foundation to support the operational set-up of the Ci-Gaba Fund of Funds, a blended finance vehicle to unlock local pension funding for small and growing businesses. The grant will also support ecosystem development and advocacy and the execution of an action plan to increase pension investments in alternative assets developed by Ghana’s Pensions Industry Collaborative.
Small and Medium Enterprises, constituting approximately 90% of businesses, employing 80% of the workforce, and contributing 70% to GDP in Africa, serve as the lifeblood of the region’s economies. However, emerging and established fund managers across Africa, who fund SMEs, struggle to mobilize local pension funding, a potential USD 56 trillion capital pool. This exposes them to significant currency risks, constrains the size of their capital pools, and hampers their capacity to fundraise internationally. The Ci-Gaba Fund of Funds is set up to address these challenges and drive capital to profitable venture funds and businesses. This grant builds on funding already secured from FMO Ventures and the Research and Innovation Systems for Africa Fund (RISA) funded by UK International Development.
Amma Lartey, CEO of Impact Investing Ghana said “Impact Investing Ghana is delighted by the strong support for Ci-Gaba from key organizations in the impact investing ecosystem like the Ford Foundation and look forward to the inclusive growth that it will drive in the region.”
The Ci-Gaba Fund invests in emerging and experienced fund managers within small and growing businesses and is poised to transform the landscape of impact investing, particularly across West Africa.
About Impact Investing Ghana
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 and a member of the Africa Impact Investing Group. IIGh is supporting the growth of impact ventures and catalyzing $ 1 billion in impact funds for investment in Ghana and the West African sub-region. Find more here www.impactinvestinggh.org