African inventors and entrepreneurs have set their sights on securing a $49.6 million investment from stakeholders during the recently concluded Africa Social Impact Summit (ASSIS). The event, which took place in Lagos, featured a deal room where 18 businesses, chosen from a pool of over 500 applicants across Africa, presented their proposals. These finalists, representing countries such as South Africa, Kenya, and Nigeria, spanned various sectors including health, waste recycling, agriculture, and education. Together, they are seeking financial support to expand their production capacity and fuel business growth.
The summit, co-hosted by the Sterling One Foundation and the United Nations in Nigeria, revolved around the theme “Global Vision, Local Action: Repositioning the African Development Ecosystem for Sustainable Outcomes.” The gathering brought together governmental representatives, members of the diplomatic community, civil society leaders, and professionals from both public and private sectors. The aim was to foster meaningful dialogues that could stimulate positive change across the African continent.
Olapeju Ibekwe, the CEO of the Sterling One Foundation, stressed the importance of the private sector’s commitment to achieving the Sustainable Development Goals (SDGs). ASIS 2023, as the second iteration of the summit, was designed to encourage partnerships and attract investments that would expedite progress towards these SDGs.
As the world reaches the midway point of the SDG timeline, the summit sought to assess achievements thus far and identify areas that require additional measures to ensure successful outcomes. This call for action was echoed by influential figures such as former Malawi President Joyce Banda, who emphasized the need for collaborations between private sectors across different regions to directly impact communities in Africa.
Amina J. Mohammed, Deputy Secretary-General of the United Nations, characterized Africa as an exciting business opportunity, boasting abundant arable land and a motivated youth population. Summit discussions encompassed a range of topics, including funding for quality education, health programs for underserved regions, climate change solutions, and strategies for equitable development.
With support from organizations like The Coca-Cola Company and Microsoft, as well as developmental partners like the United Nations Development Programme, the Africa Social Impact Summit united over 1,500 attendees and 60 leading experts. Together, they explored crucial sectors of the African economy, aiming to chart paths toward sustainable growth and development.
