Broadcasting
What does it mean to be an impact investor in the African context?
By Keoleboge Malela, ESG and Impact Manager, Norsad Capital
Impact investing refers to investments that are made to achieve positive financial returns combined with measurable, positive environmental and social impact. The impact investment sector is currently estimated to be worth US$1.164 trillion globally. Of that, Sub-Saharan Africa lays claim to a relatively small US$65 billion, with South Africa accounting for 84% of all impact investment assets in the region.
It should be clear, then, that there’s substantial room for impact investment growth across the continent. But if we’re to offer any kind of roadmap for how that growth might be achieved, it’s important to understand what it actually means to be an impact investor in Africa.
Understanding where the need lies
While it’s important for any investor to understand where there is a developmental need to be met or a problem to be solved, it’s especially critical for those participating in the impact sector in the African context.
Impact investors looking to build a presence in the region must do extensive work to understand the region as a whole, alongside the individual markets they seek to operate in. Ideally, that means having an active on-the-ground presence, as well as making a conscious effort to hire relevant local expertise.
With those resources in place, it’s also important for investors to identify the problems that their investing expertise is best poised to solve. At Norsad Capital, for instance, our investments are aligned with the United Nations’ Sustainable Development Goals (SDGs) and focused on helping build sustainable livelihoods, financial inclusion, gender equality, and growth in climate and clean energy.
Meeting investor expectations
Increasingly, investors of all kinds expect investments to be made in accordance with environmental, social, and governance (ESG) guidelines.
Applying ESG best practices creates sustainable brands, increases productivity and enables companies to unlock further funding. It also creates expanded opportunities for impact investors as they’re ideally poised to deliver on those guidelines.
But to make the most of those opportunities, investors must work hard to ensure that they exceed ESG compliance standards. This intentional and focused approach is critical to being a successful impact investor.
Returns and measurability
Of course, impact investing is defined by more than the initial and ongoing work you put in. You also need to be able to demonstrate returns. Here, sound investment must be based on sustainability, measurability, supported by the transparent monitoring of benefits.
There are clear reasons for the need to generate returns. It’s what separates impact investors who have a growth imperative, from NGOs and charitable organisations that don’t. Impact investors believe that it’s possible to change the world while making a profit. The investors backing them believe that too, making it incredibly important to invest in companies that at least show the potential to generate returns.
Measurability in impact investing is both more important and more difficult to achieve than in traditional forms of investment. Remember, impact investors don’t just have to demonstrate that they’re delivering financial returns for investors but also that they’re having an actual impact.
Specific approaches to measuring impact will differ depending on investors’ objectives, capacities, and goals. However, according to the Global Impact Investing Network (GIIN) there are general measurement best practices. These include: establishing and stating social and environmental objectives to relevant stakeholders; setting performance targets related to these objectives using standardised metrics wherever possible; monitoring and managing the performance of investees against these targets; and reporting on social and environmental performance to relevant stakeholders.
In the African impact investing landscape, it’s also important to apply the widely varying contexts in which investments are made to those measurement principles and to help external stakeholders understand why that’s so critical.
Unlocking potential
Ultimately, though, the real meaning of being an African impact investor can’t be boiled down to those minutiae. Instead, it’s about unleashing the immense potential on the continent. It is, after all, home to a growing population (more than 60% of whom are under the age of 25) that is increasingly well-educated and connected. Impact investors see that potential and want to help unlock it for as many people as possible. And with the right approach, the bets they’re making could pay off big-time.
Broadcasting
New WAEC Program Offers Faster Route for Students to Improve WASSCE Grades
West African Examinations Council (WAEC) in Ghana, has announced a new initiative, which will allow students to resit their WASSCE papers as early as January and February 2025.
This is a change from the norm in Ghana, where candidates had to wait for the next private exam cycle.
The Head of Public Affairs at WAEC, John Kapi, disclosed this while speaking on JoyNews’ AM Show in Ghana.
He explained that the new programme, referred to as WASSCE PC1, provides a faster route for students to improve their grades.
“Students who access their results now and realise they need to resit one or two papers have until 8th January to register online through our website or at WAEC-accredited internet cafés. The exams will take place from 24th January to 15th February 2025,” Mr Kapi stated.
According to him, to aid candidates in their preparations, WAEC plans to expedite the release of chief examiners’ reports, saying, “These reports will provide detailed feedback on where students may have gone wrong and how they can better approach their studies and the examination process.
“We’ve advertised this programme widely through banners, our website, and our results checker platform to ensure that both students and parents are aware,” Mr Kapi added.
He said students whose results have been cancelled are also eligible to sit the WASSCE PC1 exams, provided they have not been banned for some years for malpractice.
“For now, the exams will be conducted in regional capitals due to the limited number of candidates. Prospective participants are urged to complete their registration by the 8th of January to take advantage of this opportunity.”
WAEC, however, expressed optimism that this initiative will allow candidates to quickly improve their grades and qualify for the next cycle of admissions, avoiding a year-long delay in their academic progress.
Broadcasting
NBC Okays Radio Station for CMCM
Christ Miracle Church Mission (CMCM) in Ojodu Berger, Lagos, has received approval from the National Broadcasting Commission (NBC) to operate its new state-of-the-art radio station.
The commission said the radio was ready to commence transmission after expressing satisfaction with the facility.
Mr Raphael Akpan, zonal director, NBC, stated this while leading a team of officials on an assessment tour of the radio station.
During the visit, the officials inspected the studio area, the transmitter, the inverter, the mast, the generator, and other important places.
After the tour, the zonal director spoke with reporters and expressed his pleasure at the church being granted a broadcast license to operate a radio station. He noted that this would enhance the church’s voice in the community.
The director also mentioned that the purpose of his visit was to ensure that proper procedures are followed and that the content broadcast adheres to current laws.
Akpan praised Prophet Peter Abiola Adebisi, founder of the church, along with the church council for their initiative to establish the radio station.
“From our observation, we can say that the CMCM Champion broadcasting network 90.7FM is ready for transmission.
“It is our prayer that this radio station will go places,” he said.
The zonal director emphasized the importance of proper training for the personnel working at the radio station.
He encouraged them to familiarize themselves with relevant sections of the National Broadcasting Code to ensure they are well-informed.
It is vital for studio managers to engage in self-reflection regarding their adherence to the standards outlined in the Code.
“The operators in the studio should thoroughly understand the various sections of the NBC, which cover broadcasting standards, commercials, engineering, and more,” he stated.
Prophet Adebisi commended the NBC management for granting the church permission to operate the radio station.
He mentioned that the station would promote church programs and policies, share the CMCM story with the world, train members, who have a passion for broadcast journalism, and create employment opportunities for them, among other benefits.
Additionally, Adegbie Taiwo Jordan, chief executive officer of the station, assured that the operators would comply with all broadcasting regulations set by the regulatory agency.
Broadcasting
Afrobeats and Amapiano Lead Africa’s Musical Revolution
Africa’s music scene is no longer just a regional sensation, it has become the pulse of global pop culture.
As African music continues to enchant global audiences, Spotify Wrapped 2024 unveils the diverse range of genres that people now enjoy all over the world. While Afrobeats and Amapiano often dominate headlines, this year’s Wrapped data sheds light on other emerging sounds that define Africa’s music.
Reimagined histories
Hiplife and Highlife from Ghana, rooted in the country’s rich cultural history, remain highly exported due to their fusion of traditional Highlife melodies with contemporary beats that keep them globally relevant.
Artists like King Paluta, Fameye, and KiDi are leading the way in blending traditional Highlife melodies with modern sounds. Fameye’s Very Soon and King Paluta’s Aseda—a heartfelt song of gratitude—are examples of how the genre is evolving. Their fresh take on Highlife has helped drive a 54% increase in global streams, a sign of the genre’s appeal to both local and international audiences.
In Kenya, Arbantone, mainly characterized by beats from samples of Kenyan old school hits. This sound combines elements of Gengetone and old Jamaican riddims, led by a wave of young rappers who bring the raw lyricism of Gengetone. Captivating young audiences, Arbantone is quickly rising on local music charts.
Arbantone grew significantly in 2024, partially thanks to viral dance challenges on social media. Artists like Dyana Cods’ “Set It”, harnessed the genre’s infectious beats and catchy lyrics to connect with her fans. The song became one of the most popular Arbantone tracks in Kenya, securing the number 3 most streamed Arbantone track in Kenya as revealed by the 2024 Spotify Wrapped data.
Embracing experimental sounds
Nigeria’s Alté is becoming more popular abroad where it’s now the country’s fourth-most exported genre in 2024. Pronounced “uhl-teh”, a shorthand for alternative, you may have heard the experimental mix of Afrobeats, R&B, and hip-hop, with electronic influences on tracks like Soh-Soh by Odeal or Amaarae’s Wanted. The likes of Amaarae, Lady Donli and Odunsi (The Engine) paved the way for a new generation of artists like DEELA, DETO BLACK and brazy to tap into Alté’s rebellious, bold and unconventional brand of self-expression. The global success of Alté-influenced musicians like Tems, Rema and Odeal symbolises how the genre is taking its place in mainstream music culture. Countries like Ghana have embraced the sound with over 60 billion Spotify streams, and Alté now has 41% more global plays than it did a year ago.
South Africa’s Afro House, known for its deep rhythms and soulful vocals, has become a favourite in electronic music circles around the world. DESIREE and DJ Shimza have been instrumental in influencing the growth of Afro House. DESIREE sets blend African rhythms with modern electronic sounds, while DJ Shimza’s electrifying global performances have propelled the genre to new heights. As more artists from around the world incorporate African sounds into their music, the genre has influenced global dance floors.
Household names
Afrobeats continues to lead Africa’s music revolution, evolving rapidly and driving the movement forward. In 2024, the genre saw a significant 28% increase in global streaming. Tracks like Santa by Ayra Starr, Rauw Alejandro, and Rvssian highlight the genre’s versatility, while Calm Down by Rema and Selena Gomez underscore its widespread international appeal. Collaborations like Skillibeng and Tyla’s Jump, Gunna showcase Afrobeats’ adaptability and its growing dominance on global charts.
Amapiano, meanwhile, has emerged as Africa’s fastest-growing genre, with a phenomenal 59% increase in global streaming in 2024.
Another sign that the future of global music will undoubtedly feature even more beats, grooves, and melodies from the continent.
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