Impact Investing Ghana (IIGh) has began the operational setup of its Ci-Gaba fund of funds, which aims to release US$75 million in local and international finance for local capital providers engaging in small and medium-sized enterprises (SMEs) to advance the SDGs (SDGs).
Impact Investing Ghana is a private-sector-led effort that aims to create a robust impact investment ecosystem in Ghana. A grant from the UK Foreign Commonwealth and Development Office (FCDO) RISA Fund will enable the fund of funds to establish itself, acquire anchor funders, and launch.
The first private-sector-led fund of funds to be domiciled in Ghana will invest locally and throughout 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.
RISA Fund team leader Michele Bradford expressed her joy at the fund of funds’ operational launch.
“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.