Accessing Capital in COVID-19 Era Dominates IIF Deal Summit

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By Omolabake Fasogbon.

Impact Investors Foundation (IIF), a non-profit organisation, recently held its 2020 Deal Summit with a focus on the financial support Micro, Small and Medium Enterprises (MSMEs) could receive from not just the government but also from philanthropic, private and public sources, particularly to cushion the effect of the Coronavirus pandemic.

“In addition to the monetary and fiscal stimulus packages by the federal government, joint interventions from philanthropic, private and public sources are required to cushion the effect of the pandemic, hence, the need for the 2020 IIF Deal Summit,” according to the foundation’s Projects Lead, Ms. Maria Glover, during the summit.

Established in 2018, IIF promotes the growth of impact investing in Nigeria, in collaboration with key stakeholders active in the sector to unlock capital for social investments.

This year’s event, which was funded by the Open Society Initiative for West Africa (OSIWA), was geared towards contributing its quota in bridging the financing and economic gap COVID-19 may have created in the Nigerian economy.

The Country Director, OSIWA, Mr. Jude Ilo presented an address and the context for the day was set by Meghan Curren, West Africa Director Acumen.

According to Mr. Ilo some of the key reasons they were involve in this, was to see the gaps COVID-19 has exposed or further complicated. “We have been confronted with unprecedented situation, as a people and as the world responds to this unprecedented situation and its creativity. To better understand the ecosystem of impact investment, also to the players who have been doing fantastic work in this areas; to turn their ideas into reality and to impact into the life of ordinary Nigerians; to support access to basic services and to be an open door for prospective investors.” He said people whose lives have been turned around due to this pandemic can see reasons to smile again.

Participants include: Moses Owoicho Enakela, Founder/CEO SonoCare Healthcare, Port Harcourt. Their primary reason for this is to make healthcare accessible to everyone, irrespective of their location or social classes; Chibueze Okaegbu.I, CEO Learm Factory Education. Their aim is to help millions of Nigerian children who do not have access to quality education.

They want to provide accessible, quality and world class education to give every child that brighter future; Ibrahim Mohammed Aboki, CEO -Co founder, Fatara Farms/Renewable Energy/Energy access clear. Their purpose is to create small scale farming business for women and also provide them with rental solar services and at the end of the month they pay small token for the solar services.

Others are: Kernelinc Resources /Agriculture / Agricultural/ Supply chain. Amajuoyi Ikechukwu/Founder. They are into palm oil production. Their aim is to help people eat healthy and stay alive. To provide healthy and affordable cooking palm oil to Nigerians at large. Their vision is to be the palm oil of choice of every home in Nigeria; Eja- Ice Nigeria LTD /Renewable Energy/Energy access clear. Jubril Olabinjo , Co-founder /Sales Director. They offer solar power freezers to fish retailers on lease.

To help them sustain their business from wastage due to lack of finance to acquire the desire assets and help them make more profits; Tumeric Limited/Healthcare, Tolu Idowu, Managing Director.

They are into retail pharmacy business, into Government tenders and also into health management business .

At Turmeric they believe no matter the income level of anyone, everybody deserves quality healthcare and right to access pharmaceutical products; Adellcare /Health. Samuel Oredia, Business Development Partner. Their aim is to provide quality and affordable healthcare for who are high or low income earners within Nigeria, with the hope of moving into other parts of Africa; Clintonel Innovation Centre CIC/Technology. Tochukwu Clinton Chukwueke/CEO. Their mission is to facilitate industrialisation in Africa. They design, build manufacturing tools and equipment. They also recycle waste metals to produce raw materials for their production. They also train fresh graduates on industrial relevant skills; Zeeno Healthcare Logistics/Eloho Sylvester/ Managing Director

They are into dental healthcare. Their aim is to create a fast means patients can get connected to their dentists, irrespective of their location, to reduce the rate of dental infections and deaths.

Alabaster Agro Allied Industries Limited /Agriculture / Agricultural supply chain, Jacob Ugbodaga founder. Their aim is to help people live and eat healthy. They help to improve the nutritional values of food for consumers. Also helps to reduce proteins wastage; Digital Agro Connect Solution/Agriculture / Agricultural supply chain. Onimisi Charles Atere/Team Lead.

They are Agro business base in Kaduna Nigeria. They supply small scale farmers a 5 in one bundle. To help them increase their harvest and sales. Which are; Farm Increase services, farm produce, Agro information, sourcing market linking and warehousing; Ice solar Commercial power/Renewable Energy/Energy access clear. Emmanuel Ekwueme Co-founder CEO. Their aim is to provide solar energy for SME business for the growth of the business; Prado Power Limited /Renewable Energy/Energy access clear. Chianson Marilyn Business Development. Their aim is to provide energy technology to homes and offices. Happy Coffee /Agriculture /Agricultural supply chain. It is an indigenous Nigeria Coffee brand. Their goal is to raise revenue to seal up operations of their business to become first Nigeria indigenous franchise. Ojireh Prime Financial Inclusion, Edoka Idoko, CEO. They are into the banking sector. Their aim is to build a more conducive, more customer friendly bank. They are building a digital bank that is more transparent, more innovative and focus bank with a debt card to customers.