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Ghanaian businesswoman and entrepreneur Roberta Annan earlier this week launched a € 100 million fund to channel investments in African small and medium-sized creative and fashion businesses.
The Impact Fund for African Creators (IFFAC) will award grants of up to € 50,000 to selected projects to accelerate the development of the continent’s creative sector.
The fund was launched at a ceremony held on Monday, October 4, 2021, during Paris Fashion Week, and was
assisted by fashion industry experts. Chinelo Anohu, Senior Director of the Africa Investment Forum, also
assisted.
The African Investment Forum, a flagship initiative of the African Development Bank, aims to channel
investments in Africa.
Annan, who also founded the African Fashion Foundation, said that in addition to the grants, IFFAC will make a
Additional € 250,000 – € 2 million in venture capital available to African entrepreneurs who complement their skills –
construction program.
“I have met so many incredible talents across the continent, such originality and
innovation, ”Annan said. “But I also noticed a lack of management skills, infrastructure and start-up capital
necessary to make these creative enterprises evolve. This is the motivation behind IFFAC.
Anohu said the Africa Investment Forum is in talks with IFFAC as it organizes projects that will be featured in its
The next AIF 2021 market days will be held in Abidjan, Côte d’Ivoire, from December 1-3.
“I applaud IFFAC for its early stage capital deployment plans, as well as a structured program of
training and mentoring artists and entrepreneurs like Nigerian designer Kenneth Ize, ”said Anohu.
“For all these investors present in this room, who believe, like me, in the marketing potential of exports of African products
creative genius, I invite you to contact the Africa Investment Forum.
ze, a beneficiary of the Impact Fund program, also attended the launch, after becoming the first
African to open Paris Fashion Week.
Africa’s creative industry is an increasingly important part of the investment mix for Africa’s future
economy; The Forum’s 2021 Market Days will feature offers from the creative and cultural sector from around the world.
continent, including in film and television, as well as projects led by women, among other sectors.
While in Paris, Anohu also met with European investors, including institutional investors, who are actively interested
in Africa’s creative industry, as well as other key priority sectors as part of the Forum’s unified Covid-19 response
pillars. These sectors include technology, renewable energy and agro-industry.
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