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Hamdiya Ismalia
Accra, Ghana – The Ci- Gaba Fund-of-Funds, a USD$ 75 million (GHC 900 million), is a blended finance vehicle to unlock local funding for West African venture funds and small & medium enterprises (SMEs) for inclusive growth, has announced the appointment of Savannah Impact Advisory as the fund manager, at the Aspen Network of Development Entrepreneurs (ANDE) global conference held in Accra this week. Ci-Gaba, a local currency fund, is sponsored by Impact Investing Ghana with support from the Global Steering Group for Impact Investments, FMO Ventures and the Research and Innovation Systems for Africa (RISA) Fund of UK International Development.
Hamdiya Ismalia
Savannah Impact Advisory, led by Hamdiya Ismaila is a highly specialized investment advisory firm with a focus on impact investing and gender lens investing. Hamdiya and her team bring over 30 years of experience in Fund-of-Funds management, Venture Capital and Private Equity Fund Structuring and investments across West Africa. She has worked as the General Manager of Venture Capital Trust Fund (VCTF), a Ghanaian fund of funds vehicle established to support emerging managers investing across West Africa and serves on the investment committee of regional Funds-of-Funds.
Ci- Gaba announces Fund Manager- Hamdiya
Amma Lartey, CEO of Impact Investing Ghana said: “There is an urgent need for effective structures to close the $331 billion SME financing gap in Africa. Ci-Gaba is unlocking local pension funding, currently over $350 billion of assets across sub-Saharan Africa.”
Hamdiya Ismaila said she was honored to be appointed as the fund manager for the Ci-Gaba Fund of Funds. She added; “this opportunity aligns perfectly with Savannah Impact Advisory’s commitment to impact investing and gender lens investing, and we look forward to making a meaningful contribution to the growth of West African venture funds and SMEs. “
Andrew Shaw of FMO Ventures said “We are delighted to support the development of the impact measurement and management matrix of the Ci-Gaba Fund-of-Funds to ultimately help better align with other impact investors. This collaboration underscores our commitment to fostering sustainable and inclusive growth in the region”.
Mark Lawler, Team Leader of the RISA Fund, a project of UK International Development, said “The RISA Fund is proud to have supported the operational set-up and stakeholder engagements for the Ci-Gaba Fund-of-Funds. This initiative exemplifies the power of collaboration in addressing financing gaps towards inclusive and sustainable innovation ecosystems in Africa.”
The Global Steering Group for Impact Investments (GSG) has been instrumental from the start in connecting initial funding from the MacArthur Foundation, World Economic Forum, Collaborative for Frontier Finance, and other key thought partners to provide input on the design of the Ci-Gaba Fund-of-Funds. CEO Cliff Prior has shared; “Fund of Funds in local currency are hugely valuable. We believe that this initiative will set a valuable precedent for impact investing in the region and beyond”.
About Impact Investing Ghana
Impact Investing Ghana (IIGh) is the Ghana National Advisory Board for Impact Investing. We are an independent private-sector-led initiative promoting sustainable development and advancing the development of the impact investment ecosystem in Ghana. IIGh is Ghana’s representative to the Global Steering Group (GSG) for Impact Investing and a member of the Africa Impact Investing Group. IIGh is supporting the growth of impact ventures and catalyzing $ 1 billion in impact funds for investment in Ghana and the West African sub-region. Find more here www.impactinvestinggh.org
About Savannah Impact Advisory
Savannah Impact Advisory (SIA) is a highly specialized investment advisory firm with specific focus on Fund structuring, Venture Capital / Private Equity (VC/PE) and Fund of Funds (FoF) management with an impact and gender lens approach.
Since incorporating in December 2017, the firm has designed and structured innovative funds that drive the greatest impact in the countries it operates. In line with the firm’s philosophy of achieving the greatest impact with fund design, SIA seeks to create an avenue for institutional investors such as pension funds and insurance companies seeking institutional grade vehicles for the provision of alternative investments in the productive sectors of their local economies.
The promoters of SIA are grounded in West Africa and have built a robust network of emerging and experienced VC / PE Fund managers, practitioners and Small and Medium Enterprises (SMEs) in the region to achieve mutual goals. Since 2017, the firm has provided a diversified investment platform for investors interested in the region with a sound pipeline of VC Fund Managers with both sector and generalist expertise.
About FMO
FMO is the Dutch Entrepreneurial Development bank. As a leading impact investor, FMO supports sustainable private sector growth in frontier and growth markets by investing in ambitious projects and entrepreneurs. FMO believes that a strong private sector leads to economic and social development and has a close to 50-year proven track record of empowering people to employ their skills and improve their quality of life. FMO focuses on three sectors that have a high development impact: financial institutions, energy, and agribusiness, food & water.
With a committed portfolio of EUR 13.2 billion spanning over 85 countries, FMO is one of the larger bilateral private sector development banks globally. For more information: please visit www.fmo.nl
The FMO Ventures Program is a EUR 200 million investment program supported by contributions from the Ministry of Foreign Affairs of the Netherlands and a guarantee from the European Union with a 4-year investment period. FMO Ventures empowers innovative business models for impact through its focus on
early stage, tech-enabled direct investments alongside a lead investor and indirect investments with a more generalist focus in funds. Through its Technical Assistance Facility, FMO Ventures provides the expertise to improve investees’ business operations, invest in inclusive business models, as well as
provide broader support for a vibrant startup-environment in the regions where the program invests through investee investing, community engagement and entrepreneurial ecosystem building. FMO Ventures focuses on Fintech, Energy Access, AgriTech, and invests in generic funds. For more information
about FMO Ventures, visit www.fmo.nl/ventures-program