The Nigeria Wholesale Impact Investment Fund has launched a $100m fund and appointed Kuramo Capital Management as its official fund manager.
In a statement made available to our correspondent, this partnership marks a step in Nigeria’s efforts towards sustainable development through impactful investments.
“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 $100m. This collaboration is expected to catalyse further interest and participation in the impact investment space within Nigeria and Africa.
WIIF established by the Impact Investors Foundation, aims to address socio-economic challenges in Nigeria by fostering investments in key sectors such as agriculture, renewable energy, healthcare, and education.
Kuramo Capital Management, founded in 2010 and headquartered in New York City, has a track record of catalysing investments in Africa. The firm’s subsidiaries in Nigeria and Kenya have collectively supported over 350,000 jobs and invested in more than 130 companies, directly and indirectly impacting over 500,000 lives.
The Chief Executive Officer of IIF, Etemore Glover, added that the collaboration underscores its commitment to harnessing capital for positive social and environmental impact, while also delivering market-risk-adjusted returns to investors.
“We are excited to partner with Kuramo Capital Management, a firm renowned for its expertise in managing multi-asset class funds across Africa,” stated Glover.
“This collaboration underscores our commitment to harnessing capital for positive social and environmental impact, while also delivering market-risk adjusted returns to investors,” she added.
The founder and CEO of Kuramo Capital Management, Wale Adeosun, in his remarks, said, “We are honoured to be entrusted with the management of the WIIF. Our team is dedicated to maximising the fund’s objectives, which include achieving financial returns alongside measurable social impact. We look forward to collaborating with stakeholders to unlock the full potential of this transformative initiative.”
He added that by deploying capital strategically into high-impact sectors, WIIF and Kuramo Capital Management aim to set a new standard for impact investing in Nigeria, fostering long-term socio-economic benefits and environmental sustainability.
