Acumen, a nonprofit impact investment fund that focuses on investing in social enterprises has said its programmes are focused on solving poverty-related challenges.
The CEO/founder of the organisation, Jacqueline Novogratz said “Acumen West Africa operates as an ecosystem, starting with patient capital investments across agriculture, energy, and financial inclusion sectors.
“Our impact extends to over 50 million individuals, supported by Acumen Academy builders focused on solving poverty-related challenges.”
She spoke recently at Acumen West Africa forum which focused on the transformative power of impact investment, gender-inclusive entrepreneurship, and moral leadership showcasing success stories of Acumen Fellows and investee companies.
At the Acumen West Africa event in collaboration with GAIA Africa, Jacqueline Novogratz highlighted some challenges Acumen has faced while implementing its initiatives in West Africa, and how they have been addressed,
Additionally, Jacqueline Novogratz highlighted Acumen’s commitment to off-grid electrification, having supported 40 companies over 17 years, impacting nearly a quarter billion people. Under Acumen’s Alliances, its Hardest-to-Reach initiative aims to provide energy access to over 60million people in remote Sub-Saharan African regions, which reflects their collaborative ethos, he said.
Also speaking, Akin Abayomi, Commissioner for Health, Lagos State emphasized the importance of supporting enterprises to combat poverty amidst global economic crises.
This is equally the view of many experts who believe that small and medium scale enterprises are the engine of economic growth
The commissioner, according to a statement highlighted the value that Acumen programs could have if extended to policymakers to improve effective leadership to address social challenges.
The event, according to the statement provided a platform for discussions on fostering inclusivity, justice, and sustainability, aligning with Acumen’s mission of enduring social change. Attendees engaged in discussions highlighting Acumen’s initiatives, including off-grid electrification efforts in sub-Saharan Africa.
