1. Introduction

The author defines impact investing in the African context, using personal examples to show how the lives of ordinary people are being transformed through targeted investments. He also outlines who is investing in these social enterprises, including traditional private equity and asset management funds, development financial institutions (DFIs), foundations and family offices, banks and diversified financial institutions. In addition to defining the state of impact investing in Africa, the author makes a case that the continent needs investment rather than aid. In essence, he argues that impact investing has provided the opportunity for the collaboration between private and public financing to resolve the continent’s challenges.