Despite a staggering $1.16 trillion currently invested for impact worldwide, according to the UK-based Impact Investing Institute, a substantial share of the global impact investment remains largely inaccessible to small and Medium-sized Enterprises (SMEs) in Nigeria and Ghana. The untapped potential has led stakeholders to urge both governmental bodies and the private sector to intensify efforts in cultivating more investment-ready businesses capable of securing this crucial funding.
A High-Level Roundtable and a pre-event of the 2025 Africa Impact Summit Study Tour in Nigeria hosted by the Impact Investors Foundation Nigeria (IIF) in Lagos yesterday convened key stakeholders from within and outside Africa’s business landscape to explore trade and investment opportunities in Nigeria, relevant regulations and policies, and strategies for strengthening the continent’s impact investing ecosystem.
Experts at the event emphasised the that the absence of invest -ready SMEs, lack of financial transparency and adherence to globally recognised accounting standards, such as International Financial Reporting Standards (IFRS), were significant barriers to Nigerians exploring international funds to grow their businesses.
The Chief Executive Officer, IIF, Ms. Etemore Glover, stressed the need for urgent capacity-building among local enterprises. “From 2030, IFRS compliance will no longer be optional—it will be a prerequisite. Enterprise Support Providers must begin now to prepare businesses for this new reality,” she stated.
Ms. Glover also highlighted the role of domestic pension funds as a potential game-changer in addressing the persistent funding gap for Nigerian SMEs. “Pension funds represent a deep pool of patient capital. If strategically directed, they can revolutionise SME financing and spur sustainable economic growth,” she added.
Echoing similar sentiments, the Chief Executive, MBC Africa and Founder of Subiz Cooperative Credit Union, Ms. Tenemba Anna Samaké, called for coordinated efforts to strengthen Africa’s impact investment ecosystem. She advocated for bolstering local financial institutions, encouraging innovation, and unlocking new sources of capital—especially for rural entrepreneurship.
In a fireside chat session, Chief Executive of GSG Impact, Elizabeth Boggs Davidsen, outlined the group’s initiatives to expand its global footprint.
She revealed that GSG has secured support from the Japanese government to build impact investment ecosystems across six African countries, including Ghana, Côte d’Ivoire, Senegal, Ethiopia, Zambia, and Burkina Faso.Our goal is to remove barriers to impact investing, foster inclusive financial ecosystems, and create sustainable opportunities for SMEs,”she noted.
She said GSG Impact is also committed to supporting Nigeria and other national partners in creating the infrastructure and incentives needed to channel impact capital into critical sectors.
Also speaking at the event, GSG Impact’s Market Development Manager, Atieno Otonglo, underscored the urgency of mobilising large-scale capital to drive impactful development across Africa. She called for increased innovation in investment structures and greater regional collaboration.
The Vice Chair, Global Steering Group for Impact Investment, Mrs. Ibukun Awosika urged enterprise support organisations to explore alternative financing models beyond traditional funding mechanisms. “To meet the goals of sustainable development, we need creative approaches to financing that attract a broader range of investors committed to delivering real change,” she said.
The Chairman, IIF Board of Trustees and Publisher of BusinessDay, Mr. Frank Aigbogun, added that standardized frameworks for impact measurement are essential to scale up impact investing across the continent.
Experts at the roundtable consistently pointed to transparency, robust measurement systems, and blended finance models as vital tools to unlocking the full potential of impact capital in Africa.
The main event, the 2025 Africa Impact Summit, will take place from June 11 to 13 at the Kempinski Hotel, Accra, Ghana. Themed “Transforming Systems: Redefining Impact for Real Change in Africa,” the Summit is being organised in partnership with Impact Investing Ghana, Impact Investors Foundation Nigeria, and the Africa Impact Investing Group. It will convene national partners and task forces from Ghana, Nigeria, South Africa, Zambia, Kenya, Egypt, Senegal, Côte d’Ivoire, Mauritius, and Burkina Faso under the umbrella of GSG Impact.
The Summit aims to accelerate regional collaboration and deepen conversations around the future of impact investing in Africa
