The Global Islamic Impact Investment Forum (GIIIF) on Monday announced its partnership with the Africa Islamic Economic Foundation (AFRIEF).
AFRIEF is an independent development organization that provides distinctive Islamic perspectives on economic development and social issues as a solution framework for Africa’s socio-economic development and environmental challenges. Registered in the Republic of Ghana as a non-profit, its work encompasses a range of advisory, research, policy development and field-building activities to unlock the potential of Islamic finance and private capital to drive inclusive economic growth and development in Africa.
The Global Islamic Impact Investment Forum (GIIIF), is an international peer to peer network dedicated to Islamic impact. With members from throughout the Islamic world, across three continents. The organisation was founded to explore why Islamic Finance has not yet realised its potential as a mechanism for sustainability, how Impact Investing can become a device for driving investment from Islamic economies towards frontier and emerging markets and who can work together to make these efforts a reality.
The purpose of the partnership is to open up African Impact Investment opportunities to Islamic economies all over the world and encourage a surge in investing in the UN’s Sustainable Development Goals (SDGs) on the Continent which boasts the greatest opportunities and has arguably struggled with the most economic challenges.
“This collaboration marks an exciting chapter for AFRIEF as it will leverage on Global Islamic Impact Investments Forum’s (GIIIF) wide international experience, network and strength to propel Africa’s rapid economic and social development. We believe that the two organizations have complementary capabilities and we are very excited at the power of combining these to create a full-service portfolio leveraging a larger pool of international and local talents and expertise. No doubt, this relationship will create strong synergies in both impact investments and project development in Africa, and it will help to accelerate AFRIEF’s mission of shifting the prevailing paradigm of economic development in Africa – and of the economy as a whole – toward a new system that is ethical, place-based, inclusive, collaborative and ecologically sustainable”.
Furthermore, this partnership will support AFRIEF’s capabilities to actualize its purpose of promoting access to ethical finance, raising awareness of impact investment opportunities, lowering transaction costs, and mitigating the risk of investments that generate positive social, economic and environmental impact.” Baba Yunus Muhammad, President of AFRIEF.
“The 54 Countries in Africa provide Impact Investors with a genuine opportunity to make a difference and contribute to the formation of a new type of ethical economy developed with sustainability embedded at the root and using the SDGs as a roadmap for the future. With the next generation of entrepreneurs ready to leap, we at the Global Islamic Impact Investment Forum are enthused by what we see and hope our network will be too.” Sophia Shepodd Innocenti, CEO of the GIIIF.
GIIIF’s first annual event will take place in London in September 2022, and will bring together stakeholders from throughout the Muslim world to address the potential and importance of Impact and Impact investing in the sustainable development of the planet.