Recovered Govt Funds, Others to be Harnessed for Investment

Kuni Tyessi in Abuja

For the establishment of an impact investment wholesaler fund in Nigeria, sources to be harnessed for the project include recovered government funds, dormant investment, financial institutions and philanthropy.

Others are institutional investors, development financial institutions, pension funds, financial institutions sovereign health fund, unclaimed dividends and government spending.

The head of project, NICOP, Ana Vinambres, said the investment fund is intended to be both an impact market builder dedicated to achieving measurable positive impact on people and the environment by providing workable financing to fund other intermediaries.

Speaking at the validation workshop to

establish wholesale impact investment fund in Nigeria, she added that social impact entrepreneurs  as well as Micro Small and Medium Enterprises (MSMEs) which draws in additional capital and supports the development of the impact investing ecosystem.

She disclosed that the German Development Corporation and the European Union are the front liners that have come together to set up an initiative to establish an impact investment wholesaler fund in Nigeria.

Other partners in the funded programme include Germany Cooperation Ministry, German Development Cooperation and Impact Investment Fund (IIF).

She said the possible wholesaler funds being considered include “dormant accounts and unclaimed dividends, dormant investment, public financial institution and government spending.

Others are “institutional investors, others sources possible such as development financial institutions, philanthropy, pension funds, financial institutions sovereign health fund and recovered government funds.”