Publications
Landscape Analysis Study on Impact Investing in Africa
Social impact investing in Africa is a rapidly growing sector focusing on generating measurable social or environmental impact alongside financial returns, with Sub-Saharan Africa becoming a preferred destination, often cited as a top-three location for global impact investors. This study, commissioned by AVPA with the support of Day Seven provides a strategic update on the supply of impact investment capital across Africa, tracking shifts in the ecosystem since the 2020 baseline (Social Investment Landscape Mapping Study Report).
Impact Measurement and Management in Africa-Best Practices and Insights
Impact Measurement and Management (IMM) in Africa is evolving from mere reporting to actively managing investment strategies for better social and environmental outcomes. In partnership with Tricent, AVPA conducted this study to document best practices and emerging trends in impact measurement and management landscape in Africa. The research integrated survey data from over 300 social investment organizations and feedback from over 1,000 participants in the 2025 IMM Webinar Series.
Impact Investment Case Studies from Africa
This report details the state of impact investment across the continent, highlighting a selection of 9 Investment Cases Studies from across Sub-Saharan Africa. The report was undertaken by CEO Africa in partnership with AVPA. By analyzing nine distinct case studies from Altree Capital, Cascador, HEVA Fund, iGravity, Greenmax Capital Group, MsFiT Ventures, Small Foundation, MajiFund, and TIKO, the report demonstrates how creative capital structures are unlocking growth in sectors ranging from climate and agriculture to the creative industries and healthcare.
Priming Private Sector Investment in Climate Adaptation Innovations in East Africa
This report aims to identify the needs for physical climate adaptation technologies in East Africa, the investment opportunities, and the practical routes to investment.
Case Study: Cascador’s USD 2MLN Catalytic Fund
Cascador targets scalable Nigerian enterprises with clear paths to growth and job creation, who first go through the Cascador program to gain access to investment. The program for mid-stage entrepreneurs has supported six successful cohorts of African entrepreneurs through a unique blend of education, self-discovery, mentoring, pitch training and personalized advisory support.
Case Study: iGravity-The Impact-Linked Fund for Eastern and Southern Africa (ILF ESA)
The Impact-Linked Fund for Eastern and Southern Africa (ILF ESA) was established to address the USD 331 billion SME finance gap in Sub-Saharan Africa, where 40% of SMEs cite lack of access to finance as their primary growth constraint.
Case Study: Altree Capital’s African Women and Climate Opportunity Fund
Altree Capital is building a portfolio at the intersection of gender and climate with its Altree Kadzi Africa Fund. These include funding for Ghanaian start-up Wahu Mobility, a Zambian apiary business with a focus on biodiversity protection, and Kenyan Sweetunda, focusing on healthy snacks, food waste prevention, sustainable farming and green manufacturing.
Case Study: MsFiT Ventures – Flexible debt for purpose-driven South African real-world SMEs
MsFiT Ventures (pronounced “Misfit”) is a Cape Town–based SME debt fund specialising in trade finance and flexible working capital for early-stage, fast-growing African South African SMEs.
Case Study: Small Foundation and EFAfrica Group- Advancing inclusive finance for rural MSMEs across sub-Saharan Africa
Small Foundation collaborates to build resilient systems enabling rural African MSMEs to thrive. From 2016 – 2025, Small Foundation made four investments to support EFAfrica Group to scale equipment loans for small and medium sized enterprises (SMEs) across Kenya, Tanzania and Zambia.
Case Study: Tiko’s SRH Development Impact Bond (DIB) II – Kenya
The Adolescent Sexual and Reproductive Health Development Impact Bond (ASRH DIB II) financed adolescent- and youth-friendly SRH and HIV services delivered through public facilities at scale in high burden Kenyan counties.
CEI Africa Case Study
The goal of the Fund is to scale green mini-grids and other off-grid solutions, with a particular focus on productive use of energy and women beneficiaries. It is a one-stop shop for mini-grid developers and other off-grid energy companies, offering a variety of financing instruments.
The MajiFund Case Study
The MajiFund is a collaborative initiative born out of the Majipreneurs Alliance by Cewas, Young Water Solutions, Viva con Agua and WASEU. The Alliance aims to provide consistent and continuous ecosystem development and business support targeting the WASH space;
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