With traditional funding sources under pressure, African governments and entrepreneurs are increasingly turning to philanthropists and impact investors to help bridge the gap. Wealthy benefactors, often working through family offices and impact investment firms, are willing to back projects that can deliver transformative development impact - but only if these projects also make commercial sense.
The dual pursuit of purpose and profit is helping catalyse new capital flows to Africa, participants at the African Venture Philanthropy Alliance AVPA Conference heard. Held in Nairobi in November, the conference convened foundations, family offices, investors, social entrepreneurs and policymakers to discuss the role of catalytic capital in closing development financing gaps on the continent. The conference featured sessions on policy innovation, local capital mobilisation, blended finance, and leadership, alongside sector-specific discussions on renewable energy, fintech, agri-tech, and AI for scalable impact.
"There is a new generation of entrepreneurs and investors in Africa who are rewriting the narrative, reshaping sectors like cleantech, fintech and agritech," said Adedotun Sulaiman, chair of AVPA's pan-African board, in his opening remarks.
