Ghana Impact Summit secures commitments for sustainable growth from local financing ecosystem

The Ghana Impact Summit (GIS) 2024, hosted by Impact Investing Ghana (IIGh) in partnership with the United Nations in Ghana, GSG Impact, The Research and Innovation Systems Africa (RISA) Fund of the United Kingdom International Development, and other partners, successfully convened stakeholders across the Ghanaian financing and entrepreneurship ecosystem to collaborate to advance local ecosystem-building initiatives.

Participants shared the projects they were working on and made commitments to lead, support, and grow key initiatives. The event also saw the launch of the Ghana Investment Compendium created in partnership with the UN in Ghana as an essential tool to provide a broad understanding of the local investment landscape.

Amma Lartey, CEO of Impact Investing Ghana, said the Ghana Impact Summit is about taking action together. For example, we have businesses in deal rooms securing investments.

Pension funds, venture capital firms, businesses, international development agencies, and researchers are having targeted discussions to fill key gaps in the ecosystem that are holding back the flow of capital to the businesses and projects that can deliver both a financial return and a strong impact. We look forward to tracking progress throughout the year to see many of these ideas turn into action.

Mr Charles Abani, UN Resident Coordinator in Ghana, said “As part of efforts by the United Nations to support the Government of Ghana in accelerating the attainment of the Sustainable Development Goals (SDGs), the Ghana Impact Summit is a pivotal platform to achieve a number of clear objectives aligned with the SDG strategy.

This includes dialoguing to influence policy and regulatory reforms in the impact investment ecosystem; providing the space for stakeholders and entrepreneurs to identify and develop a robust pipeline of bankable projects that will drive sustainable economic growth and prosperity for Ghana; connecting investors to viable projects through ‘deal rooms’ – where demand meets supply; and identifying capacity areas needed to address gaps in the investment and financing ecosystem.

We are excited about supporting the “Ghana Investment Compendium’ as it is an important tool and entry-point document for entrepreneurs, investors, and others seeking to understand the ecosystem and identify key stakeholders to engage and take action. This document will be a living document”.

Chief Executive Officer of the Venture Capital Trust Fund (VCTF), founding member of IIGh and a sponsor of the event, Yaw Owusu-Brempong, reflecting on the journey and progress made said “VCTF is one of the first institutions that started work on Impact Investing in Ghana through the GIMPA Centre for Impact

Investing (GCII) which has grown into the Ghana Research Industry Collaborative.

Seeing the 3rd summit bring together all key players in creating impact is just an incredible thing. VCTF is fully committed to supporting the efforts of IIGH as we believe in long-term impacts like job creation and economic empowerment. So far VCTF has invested in funds that have invested in 78 companies creating more than 15,000 jobs while contributing to tax revenue for the government”.

One key feature of the summit was the Deal Rooms, organized by Deal Source Africa, a platform to connect businesses across Africa with investors. Pre-screened businesses were connected with investors whose selection criteria they fit.

They were also connected to Transaction Advisors. Justina Mensah, Program Manager of Deal Source Africa added, "Our Deal Rooms have resulted in the closing of four deals and we are delighted to provide a unique opportunity for businesses to connect with investors to scale their operations and increase their impact”.

The Ghana Impact Summit 2024 set a new benchmark for collaboration and innovation within the financing and entrepreneurship ecosystem, paving the way for a more sustainable and impactful future for Ghana.