On Thursday 24th February 2011, the Capital Markets Authority of Kenya (CMA) launched a report on Impact Investing on ICT in the East African region. Funded by the Rockefeller Foundation (who we currently working with on developing an online platform for Climate Exchange Network for Africa), the CMA established a task force whose main work was to look at the current situation and identify the areas to focus on to enable the region overcome existing barriers to SMEs accessing funds for executing ICT projects. Recommendations that offer solutions to the predicaments highlighted in the report in-order to boost investments in small ICT ventures with huge potential were presented.
Why the fuss about Impact Investing? This is basically where an investor will pro-actively seek investments that generate both financial as well as specific social or environmental return. Such investments are expected to go a long way in changing the lives of people in the region through offering technological solutions to everyday problems and having a financial benefit to the investors and enterprenuers. The main objectives such investments usually include:
- Increase incomes and assets of the poor
- Improve basic welfare for people in need
- Mitigate climate change
Headed by Richard Bell, the East Africa ICT Impact Investing Project task-force has successfully completed intensive research and brainstorming and have finally presented a very comprehensive report that covers legislative changes, details on fast-tracking and enhancing the growth of incubation and angel investors.
You can download the full report in pdf here: Impact Investment Challenges Opportunities in the East Africa ICT Sector