FSD Africa’s 2023 Development Impact Report discusses our progress against our sustainable finance strategy and is the second since we began implementing the strategy in April 2021. Other than progress, we also share the lessons we have been learning along the way on how to make finance work harder for Africa, both for current and for future generations.
In 2023, we celebrated two key milestones – the 10th anniversary of FSD Africa, and the coming of age of FSD Africa Investments. FSD Africa Investments turned six this year and has so far committed £92m pounds. Together, FSD Africa and FSDAi, have delivered value to over 12 million people and 3.2 million businesses, and have helped strengthen the financial markets in over 30 African countries.
While we celebrate several milestones, we are cognisant of the challenges that African countries continue to face in mobilising sufficient finance for climate and social development goals. That is why we are now placing a greater emphasis on new ways of mobilising finance for the continent’s sustainable development – through innovative climate finance solutions, leveraging Africa’s natural capital, and developing carbon markets. We emphasise the unique opportunities and resources that Africa has, and can bring to bear, in solving the climate and development challenge we all face.
What to expect from the report.
- Learn about our work with regulators, policy makers and other market actors and how this is helping to catalyse the flow of finance into frontier investment opportunities on the continent.
- Learn about the Africa Natural Capital Alliance, which we helped set up to mobilise the financial community’s response to nature loss in Africa and to help drive nature-positive investments on the continent.
- Learn about the work we are doing with 4R Digital, Rabobank and others to grow and democratise access to Africa’s carbon markets. iv. Learn about our investment in Catalyst Fund, and how support provided to Sand to Green, an Africa based Agri start-up, is promoting sustainable food production in Northern Africa.
- Learn about the Bima Lab Insurtech Accelerator, and the work we are doing with Soso Care in Nigeria, a low-cost health insurance provider that accepts recyclable waste as payment for insurance cover.
- Learn about our emerging work on gender that is focused on giving women agency and financial resources that help advance the continent’s climate action, as well as solving for other needs.
- Learn about the many other transactions we have supported to bring renewable energy, clean transport, and affordable green housing to those who need them most.
- Lastly, engage with the lessons and insights we share from our experience, and let us know your thoughts on how we can make finance work better for Africa’s future.