Roundtable Discussion to operationalize "Impact@Africa" Coordinating Network to step-up impact investment in AfricaJul 31, 2017
The Ministry of Investment and International Cooperation (MIIC), in partnership with the United Nations Development Programme (UNDP), is holding the ‘Africa Impact Investment Coordinating Network Strategy Validation and Operationalization Meeting', on the 31st of July and the 1st of August 2017 at the Ministry’s premises.
The aim of this validation and operationalization meeting is to advance impact investment in Africa through an agreement on the structure, operational, legal and financial procedures of the coordinating network, Impact@Africa; to invite interested stakeholders to become founding members of Impact@Africa; to gain approval on the Strategic Plan as well as enlist initial commitments and funding contributions from champions and to elect a permanent Board for Impact@Africa.
Impact@Africa is an industry wide coordinating network that aims to serve as the continental industry voice for the successful implementation of the Action Plan - the Africa Impact Investment Coordinating Network, also called Impact@Africa. The network will serve as a platform to foster impact investment. Through impact investment, investors can allocate capital to ventures that have social and environmental benefits, while generating a financial return.
Minister of Investment and International Cooperation Dr. Sahr Nasr pointed out that the fund aims to support the small investors and the private sector, in addition to supporting entrepreneurs with special needs, to help them establish their start-up companies, in conjunction with President Abdelfattah Al-Sisi's announcement 2018 as the year for persons with special needs. The Minister invited the attendees to participate in the "Africa 2017" conference, which will be held under the auspices of the President and will be organized by the Ministry of Investment and International Cooperation in cooperation with COMESA from December 7-9 in Sharm El Sheikh. Countries, governments and ministers of a number of African countries and high-profile figures from entrepreneurs in Africa and around the world will be attending.
Providing insight for the meeting, Ms. Randa Aboul Hosn, UNDP Egypt Country Director said: “Operationalizing Impact@Africa has been long-awaited. We envision it will open new horizons for SDG-aligned investment in Africa. To meet the SDGs, African countries will need billions annually thus huge efforts are needed to meet the SDG funding needs of the continent. We look forward to the constructive dialogue in this meeting and the innovative investment sources mainly impact investment that will be discussed today.”
It is worth mentioning that last June, MIIC and UNDP signed a Letter of Intent to establish the first National Impact Investment Fund in the region, an initiative that would position Egypt as a champion and leader in innovative and sustainable alternative finance for development.
About Ministry of Investment and International Cooperation
The Ministry develops and supports the economic cooperation between the Arab Republic of Egypt and other countries, international and regional organizations. Advises on the standards and regulations for external borrowing and the receiving of foreign grants, reviews the disbursements and repayments of local borrowers in addition to the disbursements of beneficiaries from foreign grants, adhering to the framework of the general policy of the State, to ensure the achievement of economic development, in line with the internationally aid effectiveness principles endorsed by Egypt, and best practices for management of official development assistance.
About UNDP Egypt
For over 50 years, UNDP has been supporting the Egyptian government and people in their efforts to reduce poverty and to promote sustainable human development policies. One of the hallmarks of UNDP Egypt’s success is its long-term support to the Government in building and sustaining strategic national institutions that have added significant value to improving people’s lives in the country.
About UNDP-UN Social Impact Fund
Together with public, private sector and capital market partners, the UNDP - UN Social Impact Fund (UNDP-UNSIF) is a blended financing platform that aims to facilitate growth financing towards SDG-aligned investment projects.
A unique co-investment platform that utilizes blended financing models to create both economic and social returns while facilitating the transition from grant-only project-based development to blended financed market-based development.Contact information
For more information, please contact Fatma Elzahraa Yassin, UNDP Communications Analyst at email@example.com