Have you heard about the Roberta Annan €100M Impact Fund for African Creatives?

Ghanaian businesswoman, Roberta Annan, has launched a €100m impact fund for African Creatives.
The fund is intended to accelerate the development of Africa's creative industry, by providing €50,000 grants to eligible entrepreneurs.
The fund is open to creative, fashion and lifestyle entrepreneurs across the African continent.

It's a known fact that Africa has a burgeoning fashion and creative scene. However, as it is the case in most other sectors, inadequate access to finance has been a major hinderance to growth. Ghanaian businesswoman, Roberta Annan, knows this all too well. And this is why she has decided to step in and help.

Last week while attending the Paris fashion week, Annan launched a €100 million Impact Fund for African Creatives (IFFAC). Business Insider Africa understands that the sum of €50,000 each will be given to selected fashion entrepreneurs in the form of grants.

The IFFAC grants will be given through the Annan Capital Partners, a Luxembourg-based impact investment reverse alternative investment fund. The aim of the fund is to invest in promising small and medium sized creative, fashion and lifestyle businesses in Africa. The investments are expected to drive long-term growth in Africa's creative industry.

While speaking during the launch, Annan disclosed that the IFFAC fund will make further VC funding available to outstanding African fashion and creative entrepreneurs in the long run.

“I have encountered so much incredible talent all over the continent, such originality and innovation. But I have also noticed a lack of management skills, infrastructure, and start-up capital necessary to scale these creative businesses. This is the motivation behind IFFAC,” Annan was quoted to have said in a statement seen by BI Africa.

Roberta Annan (in white) during the launch of the fund Roberta Annan (in white) during the launch of the fund. Photo Credit: AfDB BI Africa

It should be noted that the African Fashion Foundation, which was also founded by Roberta Annan, will be a major participant in the IFFAC Fund. In the same vein, the African Investment Forum (which is a flagship initiative by the African Development Bank, AfDB) will also assist in channeling the investment to African creative and fashion entrepreneurs.

Interested African entrepreneurs are therefore encouraged to look up more information about participation in the investment scheme by visiting Roberta Annan's website.