NABA Summit Summary: Session I – Impact investment

Making money while having a favourable impact on the wider community is possible. The distinguished panel of professors, investors and directors gave us an insight to the effects of impact investment, sharing multiple success stories. Karl Moene gave us an introduction to the­ inequalities we see in today’s Africa. He implied that impact investment is a good thing, but that is needs to be measured by it’s results and not the name. Investments that only favour the minority of already rich people and which further expand the inequalities, investments should mobilize the people that are out of production, and under the poverty line.

Taking away the delineation between aid and business

- Kim Wahl, Chairman at VoxtraMr Kim Wahl, Chairman at Voxtra, stated that the growth in agribusiness sector is five times more effective in reducing poverty than growth in any other sector. Research show that in Sub- Saharan Africa, its 11 times more effective in reducing poverty. Ms. Sarah Namutebi, Director of Bitinzika Poultry International shared her experience as one of the recipients of Voxtra’s investments which helped elevate the family business into a corporation. Mr Reynir Indahl, Partner at Altor Equity Partners, shared his view on impact investment and sustainable capitalism. He highlighted the importance of GDP growth but underlined that economic growth did not equal peace and prosperity. Due the lack of balance between capital gain and civil society, many financial institutions are now focused on creating an impact.Mr Chad Larson from M-Kopa, offers a “pay-as-you-go” energy service, he illustrated the increasing opportunities for innovative technological solutions to succeed in Africa. M-Kopa, as of September 2014, provides affordable solar power to over 100,000 households and is adding 2,500 every week. Such great innovative products are needed in the African markets. Mr. Larson also highlighted the skilled labor force in Africa as most of his employees are locals. Mr James Mworia talked about his youth project, giving young people with ideas a platform to create a business by helping them connect the idea to the market in order to cultivate entrepreneurship in Kenya.Mr Oliver Karius, Managing Partner at LGT Venture Philanthropy, stated their mission as an impact investor is to improve the quality of life of less advantage people. He rounded up the session with the following statement to the Norwegian business community:

The problem is not technology and its not that there is no solution, the problem is that we don’t have organizations that are able to deliver such great technological solutions to the people

- Mr Oliver Karius, Managing Partner at LGT Venture PhilanthropyWriter: Roy Emeka Nwachukwu