A paradigm shift is underway in the world of investment. This shift, being led by The Global Steering Group for Impact Investment (GSG), an independent, multi-sectoral global entity catalyzing impact investment and entrepreneurship to benefit people and the planet, is a unique collaboration between pioneering investors, philanthropists, civil society organizations, businesses, governments and entrepreneurs. Together, The GSG aims to tackle the world's most pressing social and environmental challenges by unleashing the twin powers of impact capital and impact entrepreneurship. The GSG currently represents 21 countries plus the EU through their National Advisory Board (NABs), and partners with international institutions to accelerate impact.
The GSG is encouraging and will actively support the establishment of an impact investing National Advisory Board (NAB) in Kenya. A NAB is an influential cross-sector coalition of leading national players focusing on developing a relevant national strategy and implementing actions to develop a sustainable impact investment ecosystem in the country.
In this regard, the National Advisory Board in Kenya will:
- Represent the entire impact investing ecosystem in Kenya (including the 5 pillars of impact investing namely: demand, supply, intermediaries, government/policy, and ecosystem builders), inclusive of all key national players and governed in a transparent and democratic way.
- Unite a leadership group to grow impact investment as a powerful force in Kenya.
- Collectively with the GSG and other NABs, accelerate and shape the impact investing ecosystem globally.
The role of the NAB in Kenya is, however, twofold:
- Spearhead the building of an impact ecosystem at home: NABs tend to play a key role in liaising with the government and other stakeholders to build a common understanding on the opportunities created by a vibrant impact investment ecosystem.
- Learn from and share with other NABs: Connected through the GSG, NABs have the opportunity to interact with each other and share the lessons learned. The effectiveness of this knowledge sharing is clearly shown by the rapid implementation of the policy toolbox by recent joiners.
Finally, the creation of a NAB and its engagement with the GSG will subsequently allow the country to accelerate the development of its national impact investing ecosystem, due to new policies, financial instruments and innovative approaches.
Photo Credit: UNDP
The views expressed in this article and the report attached are the author's own and do not necessarily reflect those of the SDG Philanthropy Platform. The SDG Philanthropy Platform is a global initiative that connects philanthropy with knowledge and networks that can deepen collaboration, leverage resources and sustain impact, driving SDG delivery within national development planning. It is led by the United Nations Development Programme (UNDP) and Rockefeller Philanthropy Advisors (RPA), and supported by the Conrad N. Hilton Foundation, Ford Foundation, Oak Foundation, Brach Family Charitable Foundation, and many others.