GreenTec Capital joins the Impact@Africa (African Impact Investment Coordinating Network) meetings to discuss the 2017-2022 strategic plan.

on 07 August 2017

Cairo, (Egypt) July, 2017. François Ameguide, Head of GreenTec’s Africa Office travelled Cairo, Egypt to participate in the Impact@Africa ‘Network Validation and Operationalization Meeting’ on July 31st to August 1st, 2017. The meeting is organized by the United National Development Programme  Regional Service Centre for Africa (UNDP - RSCA) as part of an Africa-Wide Impact Sector Development Initiative.

Impact@Africa, the title for the ‘Africa Impact Investment Coordinating Network,’ is an organizational body of stakeholders committed to catalyzing the impact investment sector in Africa. The Impact@Africa Cairo meeting discussed the validation and operationalization of Impact@Africa’s Strategic Plan 2017-2022 and had a discussion on the impact investment landscape in Egypt. The strategic plan represents the results of previous meetings organized by Impact@Africa’s formative board, which is comprised of representatives from Acumen East Africa, Africa Business Group, AMSCO, Bertha Centre – UCT Graduate School of Business, SEED, Southern Africa Impact Investing Network, Suguba as well as the UNDP RSCA.

GreenTec Capital, represented by its Head of Africa Office, François Ameguide, has been an active participant in the initiative, previously attending the AFIF meeting in Nairobi, Kenya, last year .

François Ameguide with HE Sahar Nasr  Egyptian Minister of Investment and International Cooperation
François Ameguide with HE Sahar Nasr Egyptian Minister of Investment and International Cooperation

The Impact@Africa Cairo meeting was officially opened by a keynote address from H.E. Dr. Sahar Nasr, Egyptian Minister of Investment and International Cooperation (MoIIC), who stressed the critical role of Impact Investment in the achievement of inclusive economic growth, youth entrepreneurship, and job creation in Africa. The Minister also discussed the creation of an Egyptian National Impact Investment Fund as an act of commitment by the Egyptian Government to Impact Investing.

The meeting’s primary purpose was the finalization of the 2017-2022 strategic plan of Impact@Africa, which included: the validation of the operational modality and legal structure of Impact@Africa; the validation of its funding structure; the hosting of the organization’s secretariat; and the mobilization of Impact@Africa founding members and the election of a permanent board.

Imact@African work session
Imact@Africa work session

The 2-day session was a continuation of a United Nations Development Program (UNDP) - led initiative that culminated with adoption of the “Cape Town Declaration on Impact Investment in Africa”, in Cape Town in November 2015, which encourages private sector development and engagement for the economic transformation and the achievement of the African Union (AU) Vision 2063 and the UN’s Sustainable Development Goals (SDGs).

The Cape Town declaration was proceeded by ‘Africa Impact Investment Action Plan Implementation Kick-off Meeting’ in Nairobi, which brought together 40 key stakeholders (impact funds, DFIs, accelerators, incubators, expert consultants and service providers and other development partners) to review the Action Plan; develop a clear roadmap; identify roles, responsibilities and resource contributions; and establish an industry wide coordinating network 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.

François Ameguide with members of the Impact@Africa formative board
François Ameguide with members of the Impact@Africa formative board

The Cairo deliberations that followed the kick-off meeting in Nairobi were attended by Impact@Africa’s formative board members, key stakeholders such as a senior representative from the UNDP- RSCA’s, Senior Representatives of MoIIC, Dr. Tamer Naiem, the Director of the Operational Unit for Development Assistance (OUDA), UNDP Egypt and Entrepreneurship experts.

"With our investment policy committed to maintaining a minimum of 75% of impact investments in our portfolio, GreenTec will further increase our role in the Impact@Africa initiative, and actively support the development of infrastructures around the impact investment community" Said François Ameguide.