The study “Investing for Impact in Africa” presents an ambitious research project led by Prof. Klueter from IESE Business School, aiming to deeply understand the dynamics and consequences of impact investing across Africa.
Research Objectives
The study focuses on three main goals:
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Analyzing the supply side of impact investments and their key players.
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Examining the demand side, including the features of funds and companies that receive this type of capital.
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Assessing the outcomes of impact investments on Africa’s broader financial and business ecosystem.
The ultimate goal is to bridge existing knowledge gaps on how impact capital flows into African markets and how it can drive social and economic transformation across the continent.
Challenges and Global Collaboration
The project highlights key challenges for impact investors, such as uncertainty in both financial and social returns, and the uneven allocation of funds across regions and sectors in Africa.
To address these issues, the research team will collaborate with a “fund of funds” managing a $250 million investment focused on gender equality, job creation, and climate action.
The methodology includes interviews, ethnographic studies, surveys, and advanced data analysis using platforms such as Pitchbook and Africa: The Big Deal Startup Deals Database. In addition, randomized controlled experiments will be used to assess the effectiveness of impact measurement and training on investment outcomes.
Expected Outcomes
The project aims to generate practical insights for academics, entrepreneurs, business leaders, and policymakers.
Its findings will be shared through top-tier academic journals and international conferences, contributing to a deeper understanding of responsible investment strategies in Africa.
Ultimately, the initiative seeks to build a more equitable, efficient, and sustainable impact investment ecosystem, capable of fostering long-term positive change across African communities.