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What does it mean to be an impact investor in the African context?
By Keoleboge Malela, ESG and Impact Manager, Norsad Capital
Impact investing refers to investments that are made to achieve positive financial returns combined with measurable, positive environmental and social impact. The impact investment sector is currently estimated to be worth US$1.164 trillion globally. Of that, Sub-Saharan Africa lays claim to a relatively small US$65 billion, with South Africa accounting for 84% of all impact investment assets in the region.
It should be clear, then, that there’s substantial room for impact investment growth across the continent. But if we’re to offer any kind of roadmap for how that growth might be achieved, it’s important to understand what it actually means to be an impact investor in Africa.
Understanding where the need lies
While it’s important for any investor to understand where there is a developmental need to be met or a problem to be solved, it’s especially critical for those participating in the impact sector in the African context.
Impact investors looking to build a presence in the region must do extensive work to understand the region as a whole, alongside the individual markets they seek to operate in. Ideally, that means having an active on-the-ground presence, as well as making a conscious effort to hire relevant local expertise.
With those resources in place, it’s also important for investors to identify the problems that their investing expertise is best poised to solve. At Norsad Capital, for instance, our investments are aligned with the United Nations’ Sustainable Development Goals (SDGs) and focused on helping build sustainable livelihoods, financial inclusion, gender equality, and growth in climate and clean energy.
Meeting investor expectations
Increasingly, investors of all kinds expect investments to be made in accordance with environmental, social, and governance (ESG) guidelines.
Applying ESG best practices creates sustainable brands, increases productivity and enables companies to unlock further funding. It also creates expanded opportunities for impact investors as they’re ideally poised to deliver on those guidelines.
But to make the most of those opportunities, investors must work hard to ensure that they exceed ESG compliance standards. This intentional and focused approach is critical to being a successful impact investor.
Returns and measurability
Of course, impact investing is defined by more than the initial and ongoing work you put in. You also need to be able to demonstrate returns. Here, sound investment must be based on sustainability, measurability, supported by the transparent monitoring of benefits.
There are clear reasons for the need to generate returns. It’s what separates impact investors who have a growth imperative, from NGOs and charitable organisations that don’t. Impact investors believe that it’s possible to change the world while making a profit. The investors backing them believe that too, making it incredibly important to invest in companies that at least show the potential to generate returns.
Measurability in impact investing is both more important and more difficult to achieve than in traditional forms of investment. Remember, impact investors don’t just have to demonstrate that they’re delivering financial returns for investors but also that they’re having an actual impact.
Specific approaches to measuring impact will differ depending on investors’ objectives, capacities, and goals. However, according to the Global Impact Investing Network (GIIN) there are general measurement best practices. These include: establishing and stating social and environmental objectives to relevant stakeholders; setting performance targets related to these objectives using standardised metrics wherever possible; monitoring and managing the performance of investees against these targets; and reporting on social and environmental performance to relevant stakeholders.
In the African impact investing landscape, it’s also important to apply the widely varying contexts in which investments are made to those measurement principles and to help external stakeholders understand why that’s so critical.
Unlocking potential
Ultimately, though, the real meaning of being an African impact investor can’t be boiled down to those minutiae. Instead, it’s about unleashing the immense potential on the continent. It is, after all, home to a growing population (more than 60% of whom are under the age of 25) that is increasingly well-educated and connected. Impact investors see that potential and want to help unlock it for as many people as possible. And with the right approach, the bets they’re making could pay off big-time.
A coalition of media organisations, comprising the League of Public Affairs Analysts and South East Media Professionals Network, has called for disciplinary action against Arise TV and Dr. Reuben Abati, show host, over alleged inciting remarks against the Igbos.
This was contained in a formal petition to the National Broadcasting Commission (NBC), signed by Ambrose Igboke.
According to the group, Arise TV and Dr. Reuben Abati allegedly made a divisive comment against the South East and Igbos during a TV Breakfast Show on November 21, 2024.
Recall that during the November 21 Breakfast Show, Abati had said on Arise TV, “It is a shame that the same Igbos who are so industrious that they’re all over and they do well in other parts of Nigeria.
“You go there as a non-Igbo man to go and buy land, you’ll be told that you don’t belong, even as an in-law. These are the issues in my view.”
The journalist and former Presidential aid referred to an incident reportedly involving the former Minister of Information, T.O.S Benson, who sought to purchase land in Igbo land for his wife.
The anti-Igbo comment has resulted in criticism and outburst from different groups.
They argued in the petition that there are “concerns about remarks made by Dr. Abati, which perpetuated harmful stereotypes against the Igbo community.
“These statements have been further amplified by extremist groups like Lagospidia, exacerbating ethnic tensions in an already delicate socio political climate.”
The media professionals said, “Dr. Abati’s reference to the Igbo people in a broad, negative context risks inflaming ethnic tensions and promoting dangerous generalizations. This kind of action was what ignited the Rwandan genocide where the Hutu and Tutsi engaged in a fratricidal war of extermination. It all started with a radio
“His comments were quickly weaponized by groups known for anti-Igbo sentiments, fueling divisive narratives that undermine national unity.
“Dr. Abati’s hostile response to a colleague, Ms. Ojy Okpe, on the following day’s broadcast, demonstrated a troubling disregard for professional journalistic standards.
” The remarks and behavior constitute a breach of the Nigerian Broadcasting Code, which prohibits content that incites division or promotes hate speech.”
The petitioners called for a thorough review of Abati’s remarks and the editorial lapses that allowed such conduct to air.
Nigeria Civil Aviation Authority (NCAA) has called on aviation passengers to become more informed about the challenges they may encounter while traveling through airports.
This appeal was made by the NCAA Head of Consumer Protection, Michael Achimugu, during a road walk in Port Harcourt, the Rivers State capital, on Saturday, December 7.
He highlighted the importance of passenger awareness, especially during the heavy travel season, and emphasized the need for proper sensitization regarding flight delays and possible solutions.
“We’re now in the high travel season in aviation and as you know there’s been a lot of flight disruptions as well as a lot of complaints,” Achimugu said.
“Our duty at NCAA is to sensitize our passengers because most of the time when complaints come about these disruptions, it comes from a place of poor knowledge about their rights and responsibilities as air passengers. We must protect both the passenger and the airline,” he added.
The NCAA continues to engage in efforts to educate passengers and address concerns during this busy travel period.
Showmax has released the trailer for the second season of its Nigerian Original epic drama series, Cheta M. The new season premieres on Monday, 6 January 2025 with three new episodes released every week.
This epic tale follows the star-crossed love story of Adanna (Oluchi Amajuoyi) and Nnanna (Kingsley Nwachukwu), whose bond is tested amid the escalating conflict between the kingdoms of Mgberi, led by the tyrannical King Jideofor (Kalu Ikeagwu), and Ajaani, ruled by the cunning patriarch Nze Ezeugo (Nonso Odogwu).
Their love faces formidable opposition from Ojigijaga (Jsmile Uhuru), the enigmatic spiritual shaman of Mgberi, and a web of envy, desire, and political scheming by those around them.
Season 1 ended on a dramatic note as Adanna and Nwoye’s (Nnamdi Agbo) wedding faced a series of shocking interruptions, from uninvited guests to Chidalu’s (Celia Okechukwu) brazen attempt to hijack the ceremony that led to her death.
At the heart of Season 2, Nnanna and Adanna’s love story is further tested with forgotten memories, their intertwined family histories, and the unrelenting forces threatening their bond. As they journey through the chaos, they must decide how much they are willing to risk and sacrifice for love and the fragile peace they yearn for.
“With Cheta M, we’re telling a story that’s rich in culture and layered with suspense, love, and spirituality”, says showrunner, James Omokwe who has been celebrated for his work on Showmax’ first Nigeria Original, Diiche as well as Africa Magic titles: Ajoche, Riona and Itura.
“This season, we wanted to explore not just the drama, but the raw humanity of our characters, their sacrifices, fears, and resilience. We know season one left a lot of questions and curiosity as to what happens next, and I’m looking forward to audiences unravelling the twists and revelations we’ve woven into this epic tale.”
The return of Cheta M builds on Showmax’s strong and growing lineup of Original content, which includes recent releases such as Princess on a Hill, Wura S3 and Style Magnate.
Cheta M Season 2 will premiere Monday, 6 January 2025, with three new episodes released weekly. Fans can also binge the first season on Showmax ahead of Season 2’s premiere.
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