Nigeria’s $1 billion Wholesale Impact Investment Fund (WIIF), an initiative of Impact Investors Foundation (IIF) in partnership with Kuramo Capital Management has excited Pension Fund Administrators (PFAs), who have seen the fund as a growth opportunity that will impact the society.
At a high-level PFAs roundtable organised by IIF and Kuramo held in Lagos Tuesday, operators in the pension industry showed keen interest in the fund, but were curious about structure, returns on investment and security of fund.
The roundtable offered a good platform that will foster collaboration and innovative roadmap that will enable stakeholders channel local capital towards impact-driven initiatives.
A key highlight of the event was the introduction of the Wholesale Impact Investment Fund (WIIF), a ground-breaking initiative designed to catalyze a thriving impact investment ecosystem in Nigeria.
The WIIF aims to address the critical financing gap faced by Micro, Small, and Medium Enterprises (MSMEs) and is positioned to drive long-term economic growth, job creation, and significant social impact across the country.
Aligned with Nigeria’s National Development Plan (2021-2025), the WIIF provides Pension Fund Administrators (PFAs) with a unique opportunity to invest in an asset class that not only offers attractive financial returns but also aligns with Nigeria’s broader development priorities.
Key stakeholders at the event
Key stakeholders at the event include, Emeka Vitalis Obi, permanent secretary, Federal Ministry of Budget and Economic Planning; Ibukunle Awosika, chair, National Advisory Board for Impact Investing (NABII) and vice chair, GSG Imapct; Afolabi Oladele, chair, Impact Investors Foundation; Wale Adeosun, CEO, Kuramo Capital; Aguda Oguche, CEO PenOp; Amma Lartey, CEO , Impact Investing Ghana and Drew Von Glahn, executive director at Collaborative Frontier Finance (CFF), who gave the presentation on ‘Unlocking Pension Funds for Small Business Finance’.
During the roundtable discussions, PFAs shared insights on the current investment climate and explored the potential of collaborating to unlock capital for impact-driven investments. With Nigeria’s growing demand for economic development and job creation, the WIIF presents an ideal vehicle for PFAs to participate in the country’s progress while achieving both financial and social objectives.
Read also: PFAs diversify assets as equity stake jumps 40%
“The Wholesale Impact Investment Fund is a transformative step toward bridging the financing gap for MSMEs in Nigeria,” said Etemore Glover, CEO at Impact Investors Foundation.
“By engaging PFAs in the impact investment space, we are aligning financial returns with the broader goal of sustainable development, which benefits the entire economy.”
Impact Investors Foundation (IIF) had earlier appointed Kuramo Capital Management as the fund manager for a $1bn Nigeria Wholesale Impact Investment Fund (WIIF).
The structuring of the Nigeria Wholesale Impact Investment Fund is set to commence under the management of Kuramo Capital Management immediately, with a first close of $100 million.
This collaboration is expected to catalyze further interest and participation in the impact investment space within Nigeria and Africa.
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