This report serves as a comprehensive roadmap for the next generation of impact investing in Africa, moving beyond one-off pilots toward structured, replicable blended finance models. By analyzing nine distinct case studies, the report demonstrates how creative capital structures—combining grants, concessional debt, and results-based financing—are unlocking growth in sectors ranging from climate and agriculture to the creative industries and healthcare.
This report was made possible by the generous support of the African Development Bank (AfDB) through the Fund for African Private Sector Assistance (FAPA).
Our sincere thanks to the impact investors and entrepreneurs across Africa who shared their stories. Special mention goes to our partners from Altree Capital, Cascador, HEVA Fund, iGravity, Greenmax Capital Group, MsFiT Ventures, Small Foundation, the MajiFund, and TIKO. Your work demonstrates the transformative power of capital when it is creatively and collaboratively deployed.
