Tony Elumelu partners with Rockefeller Foundation to launch impact investment fund for Africa

Tony Elumelu

Nigerian entrepreneur and philanthropist Tony Elumelu through his Tony Elumelu Foundation has partnered with the Rockefeller Foundation to launch an impact investment fund for Africa.

The investment fund, called the Impact Economy Innovation Fund (IEIF) was officially launched on Friday April 5, at an Impact Investment Forum in Cape Town, South Africa.

The forum, which was attended by many leading African entrepreneurs, was jointly hosted by The Rockefeller Foundation, The Tony Elumelu Foundation and the Bertha Center for Social Innovation & Entrepreneurship at the University of Cape Town (UCT) Graduate School of Business with the aim of introducing Africa’s business leaders to the concept and practice of impact investing.

Impact investing, a relatively new concept in African investment circles, typically refers to investments that aim to solve pertinent social and economic challenges while generating a financial return.

The Impact Economy Innovation Fund will be managed by The Global Impact Investing Network in close collaboration with the Tony Elumelu Foundation and The Rockefeller Foundation.

Read more: Forbes