Goodwell Investments has announced the launch of a fund valued at around USD 24 Mn which has been set aside for investments in Sub-Saharan Africa’s inclusive economy. The new fund is targeted at meeting the growing need for impact investments from private investors, family offices and foundations, and it follows from the many investor solicitations that were received by the firm in the wake of the successful closure of its preceding fund; a development that unfolded earlier this year.
With this new fund which is designed explicitly for Sub-Saharan Africa, Goodwell IV hopes to achieve maximum social impact, as well as rake in a substantial market-rate return for investors. This move, on the part of the investment firm, is believed to be born out of the need to provide access to essential goods and services such as financial services, energy, and healthcare to millions of Africans who remain underserved in spite of the popular notion that Africa is currently witnessing something of a rapid development in various sectors triggered by social and economic growth.
Goodwell has set its sights on meeting these needs, and this resolution is believed to be founded on the belief that easing and increasing access to these basic services can serve to foster the growth of a more sustainable and inclusive society. The company is looking to go about this by throwing its weight, both financially and otherwise, behind businesses in Sub-Saharan Africa that are known to have their models built around delivering these products and services.
According to a release put out by the investment firm, Goodwell IV is expected to be invested in fast-growing companies that have their services and products specifically tailored to meet the needs of the unserved and the underserved. The company will be looking to leverage what can be thought to be an extensive network in this sector, while also taking a cue from what is believed to be a pedigree of success, as can be surmised from the unraveling of preceding funds; a feat that may have put Goodwell on the list of some of the most trusted and insightful mentors within the impact investment space.
The latest move from Goodwell is believed to be part of a broader play that is geared towards building a portfolio that will span impact sectors and regions in Sub-Saharan Africa. By design, half the new fund is expected to go into financial services, as the financial sector, by the company’s reckoning, is thought to fuel a thriving local economy. This will be expected to go some way towards providing the enabling environment and opportunities for businesses to scale.
Agriculture, health, energy, and transport are other sectors that are billed to also benefit from the remainder of the fund, with emphasis on technology-driven solutions, as Goodwell identifies with the role of technology as a veritable means of reaching more consumers faster and at reduced costs, especially on the expansive African continent.
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