Impact Investing Ghana partners with FMO Ventures Program to support ecosystem strengthening activities that will enable businesses to scale in Ghana Impact Investing Ghana July 3, 2023

Impact Investing Ghana partners with FMO Ventures Program to support ecosystem strengthening activities that will enable businesses to scale in Ghana

Accra, Ghana – Impact Investing Ghana (IIGh) and FMO Ventures Program are proud to announce their strategic partnership aimed at strengthening the business and entrepreneurship support ecosystem  to  foster sustainable economic growth in Ghana.  This collaboration will support and scale up the existing work IIGh is leading to drive collaborative action and unlock access to capital for small businesses and growing businesses in Ghana through the set up of a locally domiciled (~US$7500 million) blended finance fund-of-funds named Ci- GABA. 


Ci- GABA will crown in local pension  funding, which is now an over $5.8bn industry in Ghana. Ci- GABA and will invest in 10 to 15 next generation fund managers investing inSMEs in sectors with high growth and impact potential, including agriculture, agro-processing, light manufacturing, financial inclusion, health, and education. The ultimate goal is to drive progress towards achieving the United Nations Sustainable Development Goals (SDGs) as the Ci Gaba Fund of Funds builds on the successful setup of a Pensions Industry Collaborative led by IIGh which brings together the major funds in the pensions industry together with other industry stakeholders.  


Launched in 2021, this innovative Pensions Industry Collaborative action group meets over consequent virtual workshops to develop and execute a comprehensive engagement plan that will result in significant investments made into alternative assets including venture funds by pensions.   The second and third workstream build on collaborative action work that  IIGh launched in 2022 in response to gaps in the ecosystem and has successfully steered to gain recognition from ecosystem leaders.   


Commenting on the partnership, Giulia Tavolato, Partnerships Manager at IIGh, expressed her excitement about the collaboration and stated that “This strategic partnership supports IIGh’s mission of mobilizing private sector capital for SMEs at scale by driving radical collaborative action between key ecosystem players and hope this will be the first of many long term partnerships with international partners who see the importance of supporting locally led initiatives. ”.


The partnership will enable more targeted support to Entrepreneurial Support Organizations (ESOs) to enhance collaboration and improve the quality of services in Ghana and support to businesses in IIGh’s coming through its Dealsource program to be connecting with transaction advisory support in order to close investor deals.  

Robert Haynie, Ventures Ecosystem Building Lead at FMO Dutch Entrepreneurial Bank, echoed this sentiment, saying, “We are excited to partner with Impact Investing Ghana to amplify our impact in Ghana’s entrepreneurial ecosystem. Through our joint efforts, we aim to foster an enabling environment for entrepreneurs to thrive, catalyze sustainable development, and create lasting social and economic change.”

This partnership between IIGh and FMO Ventures Program holds immense potential to strengthen the entrepreneurial landscape in Ghana and beyond. Together, these organizations are committed to realizing the untapped potential of small businesses and empowering them to drive inclusive growth, job creation, and the achievement of the Sustainable Development Goals.


About 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 $ 1 billion in impact funds for investment in impact ventures in Ghana and the West African sub-region. Find more here