The Africa Social Impact Summit, in collaboration with the United Nations and Lagos State Government, has recently held a 2-day summit at Eko Hotel and Suites, fostering bold actions towards accelerating progress in Africa.
With the theme, Scaling Action: Bold Solutions For Climate Resilience and Policy Innovation, the summit highlighted the urgent need to move beyond piloting ideas to implementing scalable actions.
The summit brought together experts and stakeholders who emphasized the need for bold strategies to tackle salient matters affecting Africa.
In his welcome address, Mr Abubakar Suleiman, CEO Sterling Bank, charged the audience to take bold steps. “Think of bold steps in terms of doing something that is at least twice of what you did last year. It has to be something that the foundation hasn’t done before. It has to be you stepping back and saying, what we’ve been doing for so long hasn’t worked”, he said.
He further stated that the summit was inaugurated 2021/2022 after Covid and the Foundation was able to convince the United Nations to be a co-convener. “When you are thinking about your bold action, think about the Foundation that less two years was able to convince the United Nations to be a co-convener. Think of a foundation that in the fourth summit, has 64 partners today”, he added.
In her address, Olapeju Ibekwe, CEO Sterling One Foundation emphasized the importance of partnerships during impactful change and mobilizing resources for sustainable development.
“Against the backdrop of the global warming, there is no better time than now for different people to come together to put into action partnership for the goals.”
“For you to scale action, you need the right people. You need the right resources, you need to take action on the right policies, you need the right executions. Today we celebrate partnership. This convening is not just an event, it’s an execution platform”, she added.
Olapeju encouraged the participants to get ready to identify their partners for them to scale whatever they are doing to scale the SDGs.
With focus on: galvanizing multilevel partnerships for the acceleration of the SDGs and the African Union Agenda 2063, attracting impact investment into scalable solutions that are deliberate, policy and advocacy, the summit aimed to transform not just Nigeria but the continent of Africa.
The Africa Social Impact Summit (ASIS) started with a thought-provoking panel discussion on impact investment, moderated by Etemore Gover, CEO Impact Investors Foundation. The panel featured a diverse range of experts, including Mr. Adam Thompson, CEO EHA Groups; Jonas Ayeri, Senior Investment Officer, International Finance Corporation; Adeniyi Olukoya, Senior Relationship Manager at Afreximbank; and Abraham Durosawo, Vice President at the Nigerian Sovereign Investment Authority.
This first panel discussion was centered on opportunities and challenges in impact investing. It focused on the need for increased investment in sectors driving sustainable development, the importance of collaboration between investors, governments, and private sector stakeholders.
Mr. Adam Thompson strengthened the need for strategic investment in sectors that drive sustainable development, such as renewable energy, education, and healthcare. He said that impact investors must give priority to investments that not only generate financial returns but also create measurable social and environmental impact.
Jonas Ayeri highlighted the importance of mobilizing capital for sustainable development, particularly in Africa. He emphasized the need for investors to take a long-term view and prioritize investments that drive systemic change.
Adeniyi Olukoya discussed the critical role that financial institutions play in promoting impact investing. He stated that institutions like Afreximbank are working to increase access to finance for small and medium-sized enterprises (SMEs) and other impact-driven businesses.
Abraham Durosawo highlighted the Nigerian Sovereign Investment Authority’s commitment to impact investing, particularly in sectors that drive economic growth and development. He emphasized the need for collaboration between governments, investors, and private sector stakeholders to drive impact investing.
The summit provided a platform for knowledge sharing, collaboration, and solution-driven discussions, highlighting the need for collective action to address Africa’s development challenges.
