Stakeholders plan capital increase to sort out W’Africa challenges

Stakeholders on the 2024 West Africa Deal Summit have dedicated to enhancing collaboration in mobilising capital to handle the sub-region’s distinctive socioeconomic challenges.

The 2-day occasion attended by over 500 buyers, entrepreneurs, authorities representatives, and thought leaders, targeted on constructing revolutionary financing mechanisms and was convened underneath the theme, ‘Actions to Deepen Catalytic Capital in West Africa.’

The summit organised by the Affect Traders Foundation, Affect Investing Ghana alongside impression investing activity forces in Burkina Faso, Senegal and Cote d’Ivoire highlighted a number of precedence actions in a joint assertion issued on the occasion’s shut.

The Chief Govt Officer of Affect Traders Foundation, Etemore Glover, highlighted the collective dedication of WADS contributors to accelerating efforts in constructing nationwide and regional ecosystems that drive resilience and sustainable development.

“We, the impression investing neighborhood, decide to constructing nationwide and regional ecosystems that foster sustainable development and resilience. Catalytic capital, robust governance, regional collaboration, and revolutionary financing mechanisms are important for leveraging West Africa’s potential,” she mentioned.

Key initiatives outlined within the joint assertion embrace strengthening regional collaboration and data change; mobilising native capital; encouraging innovation and collaboration for systemic change; strengthening good governance and capacity-building for MSMEs; and selling data-driven design and execution.

The joint assertion was signed by Board Vice Chair, Affect Investing Ghana, Mirabelle Moreaux; CEO, Affect Traders Foundation, Etemore Glover; CEO, Affect Investing Ghana, Amma Lartey; Member, Burkina Faso Affect Investing Taskforce, Yacouba Ouedraogo (PhD), and Member, Senegal Affect Investing Taskforce, Bowel Diop.

In the meantime, Lartey of Affect Investing Ghana, explaining how Ghana pension fund directors have been capable of diversify investments to earn greater returns urged it may be a template that may curiosity their Nigerian counterparts.

She mentioned, “We now have been engaged on the right way to unlock the pension business to put money into small and medium enterprises and different companies in order that we are able to have returns which are good for the pension shoppers.”

She identified that whereas new laws guiding Ghana’s pension funds permit as much as 25 per cent in various investments, PFAs have been initially hesitant as a result of their poor data of asset lessons, valuation challenges, and lack of expertise.

“They felt their shoppers didn’t perceive various investments,” she identified.

Nevertheless, in collaboration with key stakeholders, she mentioned that they’ve been capable of channel a number of the pension funds into various investments.

The summit closed with an invite to the Africa Affect Summit 2025 scheduled for June 2025, in Accra, Ghana.