Kuramo Capital to manage Nigeria Wholesale Impact Investment Fund
The fund will make investments in agriculture, renewable energy, healthcare, and education.
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The Impact Investors Foundation (IIF) has announced the appointment of Kuramo Capital Management as the official fund manager for the Nigeria Wholesale Impact Investment Fund (WIIF).
Kuramo Capital Management will leverage its expertise to drive the WIIF’s mission of fostering social and environmental impact alongside financial returns. The fund aims to address critical issues such as poverty alleviation, job creation, and sustainable economic growth through targeted investments in key sectors including agriculture, renewable energy, healthcare, and education.
"We are delighted to partner with Kuramo Capital Management, a firm that shares our vision of harnessing the power of capital for good," said Etemore Glover, CEO of IIF. "With Kuramo's expertise and commitment to impact, we are confident that the WIIF will drive significant positive change and contribute to the sustainable development of Nigeria while achieving market risk-adjusted return to investors."
"We are honoured to be entrusted with the management of the WIIF," said Wale Adeosun, founder and CEO of Kuramo Capital Management. "Our team is dedicated to achieving the fund’s objectives and delivering both financial returns and measurable social impact. We look forward to working closely with all stakeholders to realize the full potential of this transformative initiative."
The structuring of the Nigeria Wholesale Impact Investment Fund is set to commence under the management of Kuramo Capital Management immediately, with a first close of $100 million. This collaboration is expected to catalyse further interest and participation in the impact investment space within Nigeria and Africa.
IIF is a non-profit organisation established in 2019 to accelerate the growth and excellence of impact investing in Nigeria. Since its establishment, IIF has been playing a leading role in the impact investing ecosystem in Nigeria by convening stakeholders in government, private and social sectors to work together to advance its growth. In furtherance of its effort to deepen the growth of the impact investing market, the IIF led the establishment of the Nigerian National Advisory Board for Impact Investing (NABII) in 2020. Its role is to lead the design and implementation of a national strategy that addresses barriers inhibiting the growth of impact investing while unlocking opportunities for more impactful investments.
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