SanKalp Africa Summit highlights role of impact-driven investment in the continent

The Sankalp Africa Summit which is taking place between March 1st and 2nd 2023 in Nairobi has brought together more than 1500 participants from across the world.

Converging at the Kenya School of Monetary Studies is a diverse group of innovators, investors, representatives of governmental funding institutions such as GIZ and IFC,  business leaders, and members of the general public. All are united by the desire to solve some of the most hard-hitting global challenges.

The theme of this year’s summit is Transforming Impact, emphasizing the need for organizations and individual innovators to create solutions that not only reap big profits but are also bound to change society.

Patrick Obonyo from the Ikea Foundation noted that successful investment must focus on “ human capital, financial capital, and a supportive environment.” Obonyo said that while the continent has received substantial Venture Capital investment, it’s regrettable that 80% of the 5 billion dollars pumped into the continent last year was only shared by Kenya, Nigeria, Egypt, and South Africa.

“The other countries are left to share the crumbs,” Obonyo lamented.

Joana Bichscel, Founder and CEO of  Kasha Global, a digital platform focusing on women’s health and self-care highlighted the glaring gaps on fund of women-led businesses across the continent said. “One of the challenges women encounter is facing a male-dominated panel that might not necessarily relate with your product or idea, especially if it’s female-focused,”

The SanKalp Africa Summit  which closes today is also being used to showcase some groundbreaking ideas and products being fronted to tackle global and continental challenges including food shortage and climate change.

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Simon W Nderitu

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