Fund Management

SMEs are the backbone of economies in SSA, representing circa 85% of businesses, largely within the private sector and contributes about 70% of gross domestic product (GDP) in most SSA countries. In terms of formal sector employment, SMEs account for over half of all fulltime employment, with percentages likely much higher in the informal sector.

SMEs have been identified as the engine for achieving economic development, however, there are several challenges that slow down the rate at which SMEs can impact on development of which the lack of appropriate finance, inadequate management & technical expertise on the part of SME promoters has been identified as major challenges.

Impact Capital Advisors (ICA) was founded primarily to serve and address Missing Middle (Small & Medium Enterprise) financing in Africa by raising PE/VC Funds to provide ALTERNATIVE APPROPRIATE funding to SMEs in Africa.

Our Funds

ICA currently has the following Funds under management WITH EACH FUND having ITS OWN 100% DEDICATED INVESTMENT MANAGEMENT TEAM.

The Industrial Support Fund

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The Financial Inclusion Stability and Growth Fund (FINSTAGROW)

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Women In Sustainable Enterprises Fund (WISE Fund)

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Industrial Support Fund

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  • Trade in Africa: According to UNTAG, total trade from Africa to the rest of the world averaged USD 760B between 2015 and 2017 whereas the rest of the worlds trade to Africa averaged 16,530B within the same period, clearly showing the disproportional trade imbalance between Africa and the rest of the world. Since 2008, Africa, along with Asia, is the only region with a rising trend in intraregional trade indicating the desire for African countries to trade among themselves. However Intra-African exports made up only 19% of total trade in 2018, compared to 59% and 69% for intra- Asia and intra-Europe trade respectively, thus there is more room for growth in Intra- African trade. The ECA adds that Intra-African trade is likely to increase by 52.3% by 2020 under the AfCFTA.
  • Manufacturing in Africa: African countries will have to enhance their manufacturing capacities and competencies if they are to take advantage of the enormous benefits that AfCTA presents. However, according to AfDB's African Economic Outlook 2017, low manufacturing and processing capacity is a major limiting factor for trade among African countries and that Intra-African trade in manufacturing declined from 18% in 2005 to about 15% between 2010 and 2015, buttressing the need to support the manufacturing industry in Africa.
  • Agro-Processing: Successfully industrialized nations started off by first adding value to agricultural produce, gradually moving into light manufacturing, and progressing into heavy manufacturing. Agro processing supports primary agriculture which employs most people in Africa, especially women, reduces post-harvest losses, protects famer income, and contributes positively to food security thus the importance of Agro-processing in Africa cannot be over emphasized.
  • COVID-19: The advent of the COVID-19 pandemic in Africa has heightened the need for African countries to boost their local manufacturing capacity for essential medical equipment's & protective gear, pharmaceuticals, and Agro processing to increase the shelf life of food to handle emergency situations.

It's for the reasons enumerated above, among many, that the Industrial Support Fund was Instituted to support Agro processing and light (SME) manufacturing in Africa.

ISF is currently accepting applications from promoters of SMEs in Agro-processing and Light Manufacturing in GHANA ONLY. See the below for a description and funding requirements of ISF Ghana.

Fund Description The Industrial Support Fund Ghana (ISF Ghana) is a closed-end venture capital fund targeting Agro-Processing and Light (Small Scale) Manufacturing SMEs in Ghana to Impact the Africa Continental Free Trade Agreement (AfCTA) and Mitigation of COVID-19 Effects in Ghana.
Manager
  • Impact Capital Advisors
  • Investment Management Team: Mr. Anthony Annan, (Chief Investment Officer) Mr. Eugene Quayson (Senior Investment Officer) and Mr. Joe Gyapong (Chief Portfolio Officer)
Instruments Equity, Quasi-Equity, Structured Debt & Profit Sharing
Ticket Sizes Between GHC 500K to GHC 5M per SME
Business Life Cycle Stage Start-up/Early Growth, Growth & Expansion.
Selection Criteria
  • Owner Managed SMEs
  • Commercial Viability, great Growth Potential and Financial Return
  • Manufacturing/Agro Processing SMEs with a focus on Export and or Import Substitution
  • Manufacturing/Agro Processing SMES Mitigating COVID-19 Effects
  • Manufacturing SMEs with high potential to create and or sustain direct and indirect (upstream and downstream value chain) Jobs.
  • Social & Development Impact Preference will be granted to:
  • Women and Youth promoters or entrepreneurs
  • Viable companies sited in areas with high poverty and unemployment rates (Rural Areas in the Districts of Ghana in Support of the Government of Ghana's One District One Factory Initiative)
  • Companies that generate a measurable, beneficial social or environmental impact alongside a financial return.
  • Businesses that will impact COVID-19 actions.
  • Mode of Application Fill out the attached template and email same to: Info@ImpCapAdv.com with “Application for Funding” in the subject line of your email

    The Financial Inclusion Stability and Growth Fund (FINSTAGROW)

    • A USD 50M Fund for Small & Medium Scale Non-Bank Financial Services Providers (MFIs, Rural Banks, Savings & Loans etc & FinTechs) serving the BoP in Africa and in response to COVID-19
    • UNDER DESIGN AND DEVELPOMENT

    Women In Sustainable Enterprises Fund (WISE Fund)

    • A generalist USD 50M Fund targeting Women Entrepreneurs/Women Owned and or Managed businesses in Africa.
    • UNDER DESIGN AND DEVELPOMENT