Government Will Create Conductive Environment For Impact Investing

GIMPA PixThe government is committed to creating and maintaining a conducive atmosphere in the country for investments to thrive and facilitate economic growth, Nii Lante Vanderpuye, Deputy Minister of Trade and Industry, has re-affirmed.

In this regard, he said the government would ensure that an enabling environment is made available to enable investors interested in impact investing and other Small and Medium Enterprises (SMEs) to operate progressively and in harmony.

Mr. Vanderpuye was launching the Ghana Institute of Management and Public Administration (GIMPA) Centre for Impact Investing (GCII) in Accra to promote impact investing as a new asset class in Ghana.

The GIMPA project was set up in partnership with the Venture Capital Trust Fund (VCTF). It was instituted following the completion of a 12-month impact investing project co-funded by the Rockefeller Foundation of the United States of America.

The Centre is expected to operate as an independent non-profit research and advocacy organization with the mandate to promote impact investing policies and investments in Ghana.

The Deputy Minister said the government was excited about the emerging concept of impact investing and stressed that by promoting private capital into impact investing, more funds would be created to invest in both new and existing businesses.

He noted that the Centre would provide the backbone for the promotion of impact investing in the country, which will encourage the government to direct policy and design specific incentives to attract investors into the impact investing space.

Mr Vanderpuye said the country was faced with social and environmental problems, which when addressed, could improve lives, adding that, graduate unemployment could be reduced if entrepreneurship and adequate financing were available to empower entrepreneurs and SMEs.

Daniel Duku, Chief Executive Officer of VCTF explained that his outfit’s partnership with GIMPA was to establish a collaborative framework for the promotion of impact investing as a means of developing a business community of social enterprises, to deal with the social and environmental challenges confronting the country.

He said the GCII would draw on GIMPA’s extensive research and policy analysis capabilities to explore opportunities both local and foreign to make the Centre an ideal place to visit for impact investing.

Mr Doku said the Centre was expected to provide positive transformation of the country’s entrepreneurial ecosystem and deliver solutions that reflect positively on the communities within which it operates.

He said the VCTF would continue to extend support and expertise to GCII to build on the post project infrastructure to ensure the growth of the industry.

The Coordinating Team Leader of GCII, Godfred Amewu said the GCII would engage in impact investment research, support local impact investment network, training and capacity building, fund raising, policy seminars on impact investment and advocacy, and create national awareness on impact investing.

According to Mr. Amewu, who is also a lecturer at the GIMPA Business School, the vision of the Centre was to achieve a vibrant impact investing environment in Ghana, adding that within its first operational year, the Centre would examine the impact investing in the health, water, sanitation and telecommunication sectors and access their opportunities, prospects and challenges in the country.

The Rector of GIMPA, Professor Franklyn Achampong Manu, thanked the Venture Capital Trust Fund and the Rockefeller Foundation for their support in spearheading the establishment of GCII and called on all stakeholders to support the project.

As part of the programme, a 115-page document titled: “Impact Investing Policy Research in Ghana,” was also launched.
A Senior Associate Director of Programmes at the Rockefeller Foundation, Mrs Eme Essin Lore, said Rockefeller was proud to support the setting up of the Centre aimed at improving the social lives of the people in the country. – Joseph Edu Archison

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