Report: West African impact investing totalled $6.8 billion in last decade
According to a new report released by GIIN in partnership with Dalberg and the UK government today, the available data for figures released shows impact investing in the West African region came to US$6.8 billion between 2005 and mid-2015; with 45 impact investors active in the region.
However, West African activity is small compared to other regions. East Africa, for example, received a total of US$9.3 billion in impact investment over the same period, despite the region’s gross domestic product (GDP) being less than half of West Africa’s.
Of the 45 impact investors identified in West Africa, 14 are development finance institutions (DFIs), and a further 31 are non-DFI or other investors.
The study finds DFIs are responsible for 97 per cent of the total impact investing capital in West Africa. In the decade in question, DFI investment increased at a compound annual growth rate of 18 per cent, from US$190 million in 2015, to US$852 million in 2014.
Within the region, Nigeria and Ghana together attract more than half – 54 per cent – of all impact capital.