Impact Investors Foundation Unveils Inclusive Capital Scorecard in Nigeria
The Impact Investors Foundation (IIF) has launched the Inclusive Capital Scorecard: GESI Baseline Survey, a benchmarking report aimed at measuring gender equality and social inclusion within Nigeria’s impact investing landscape. This initiative reflects a broader commitment among stakeholders to transition from general promises of inclusive financing to tangible outcomes that benefit women, youth, and people with disabilities.
Release of the Report at the Gender Impact Investing Summit
The report was unveiled during the 4th Gender Impact Investing Summit (GIIS) held in Lagos, building on pledges made by over 50 organizations during the previous summit to enhance capital deployment aimed at fostering inclusivity.
Summit Themes and Goals
This year’s summit, entitled “From Commitment to Action: Strengthening Inclusive Gender-Lens Investing for Nigeria’s Growth,” emphasized the importance of developing accountability frameworks that assess investment impact, identify financing gaps, and track inclusion outcomes across various sectors. Such frameworks are vital for translating commitments into measurable actions.
Purpose of the GESI Baseline Survey
The GESI baseline survey serves as a critical benchmark for measuring progress along Nigeria’s comprehensive capital roadmap. It aims to provide essential data for policy implementation, bolster cross-sector collaboration, and track how capital is mobilized and utilized.
Regulatory Engagement and Policy Development
The report’s release was synchronized with a policy roundtable attended by regulators, ministries, and government agencies, focusing on accelerating the enactment of policies that promote inclusion in key economic sectors, such as climate-resilient industries.
Insights from Key Stakeholders
Etemore Glover, CEO of Impact Investors Foundation, emphasized the report’s potential to address long-standing obstacles within Nigeria’s financial landscape, particularly regarding access to credit for women-owned businesses. She noted, “The GESI Baseline Report is the data-driven foundation needed to fix structural barriers in our financial system.” Despite women owning nearly 40% of businesses in Nigeria, they receive a disproportionately small share of formal credit, highlighting the urgent need for data to guide investments moving toward a more inclusive economy.
Encouraging Gender Inclusion in Investment Strategies
Ibukun Awosika, Chairman of GSG Nigeria Partners and Vice Chairman of GSG Impact, stated that the report compels both investors and policymakers to prioritize gender inclusion in financial and policy decisions. She remarked that embedding gender-lens investment principles into all decisions is essential for mobilizing inclusive capital and fulfilling Nigeria’s economic potential. The summit, she added, is vital for bridging the investment gap and ensuring equitable growth in the country.
Driving Economic Impact Through Measurable Metrics
Organizers noted that the summit aims to shift the paradigm from advocacy to actionable results, urging institutions to monitor measurable metrics related to inclusion, including job growth and investment deployment. A new deal room concept was introduced to connect investors with women-led businesses actively seeking capital, potentially generating commitments estimated at $250,000 during discussions.
Focus on Institutional Capacity Building
Technical sessions at the summit concentrated on enhancing institutional capacity through the deployment of a GESI diagnostic tool, an investment readiness framework, and data collection systems. These initiatives are designed to help both public and private institutions seamlessly integrate gender-responsive investing practices into their operations.
Calling Attention to Financial Inclusion Gaps
In a keynote address, His Highness Khalifa Mohammad Sanusi II highlighted the need for deliberate efforts to dismantle structural barriers that inhibit women’s economic inclusion. He argued that gender equality should not only be recognized as a social issue but also as a crucial economic imperative linked to national progress. The summit addressed alarming statistics on financial inclusion, revealing that only 23% of Nigerian women have bank accounts, a stark contrast to 77% of men. This disparity underscores significant challenges faced by women-owned businesses and underserved demographics within the economy.
Engagement from Diverse Stakeholders
Participants at the summit included financial institutions, development finance organizations, and policymakers. Discussions centered around how the newly introduced scorecard can influence future investment strategies and develop inclusive policies to enhance the financial ecosystem in Nigeria.
