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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
MultiChoice vs FCCPC: Only President has Power to Fix Prices- Court

The Federal High Court sitting in Abuja on Thursday ruled over a dispute between the Federal Competition and Consumer Protection Commission (FCCPC) and MultiChoice Nigeria over the recent hike in subscription fees for DStv and GOtv services, declaring that only the President has the power to fix or suspend prices in Nigeria.
Justice James Omotosho, trial Judge,ruled that the suit filed by MultiChoice Nigeria constituted an abuse of court process as similar proceedings were already pending elsewhere, adding that the plaintiff should have pursued its arguments in that court, rendering the current filing procedurally inappropriate.
Justice Omotosho noted that while the FCCPC has investigative powers under its establishing Act, it lacks the authority to fix or suspend prices unless specifically delegated by the President through a gazetted instrument and held that such delegation was not presented to the court.
“The power to fix prices is exclusively that of the President. Any decision taken without such delegation is a nullity,” the Judge held and added that Nigeria operates a free market system and service providers like MultiChoice retain the right to set their prices, with consumers free to accept or reject them.
The Judge further ruled that FCCPC’s actions, including directing MultiChoice to suspend its price increase, breached the company’s right to fair hearing and appeared selectively targeted.
He dismissed the FCCPC’s claim that MultiChoice held a dominant market position, calling the argument untenable.
“The use of services like those provided by the plaintiff is discretionary and not essential. Nigeria can do without it,” he added and warned that attempts to fix prices by regulatory bodies could scare off investors and harm the economy of the country.
The court held that while the FCCPC may investigate market practices, it cannot impose price controls without proper legal backing.
MultiChoice Nigeria, the parent company of DStv and GOtv, announced a price hike on March 1, 2025, citing inflation and rising operational costs. The adjustments saw subscription fees increase by up to 25% across various packages.
Broadcasting
Navigating the Maze: Solutions for Nigeria’s Flourishing Foodtech Industry

By Diana Tenebe, Chief Operating Officer, Foodstuff Store
Nigeria’s foodtech sector holds immense promise to transform our nation’s food production, distribution, and consumption systems.
However, this burgeoning industry currently navigates a complex maze of challenges that could significantly hinder its progress. While innovation and entrepreneurial drive are abundant, a confluence of infrastructural deficits, economic headwinds, technological disparities, and logistical complexities casts a shadow on the sector’s long-term viability.
Understanding and addressing these multifaceted hurdles is paramount for foodtech companies aspiring to thrive and contribute meaningfully to Nigeria’s food security.
One of the most significant impediments to the foodtech sector’s advancement is Nigeria’s persistent infrastructural weaknesses.
The unreliable power supply, a well-known constraint for businesses nationwide, directly threatens food preservation, increasing spoilage risks and driving up operational costs for companies reliant on refrigeration and consistent processing.
Similarly, the often-deteriorated state of our road networks complicates logistics and transportation, hindering the efficient movement of goods from farms to consumers and across the supply chain.
Furthermore, limited access to clean water exacerbates operational challenges, particularly for maintaining food processing and hygiene standards. Collectively, these infrastructural shortcomings inflate operational expenses and introduce vulnerabilities throughout the food supply chain.
Economic constraints add another layer of intricacy. Fluctuations in currency exchange rates create instability in pricing and procurement, especially for businesses dealing with imported technologies or ingredients. Persistent inflation erodes consumer purchasing power and increases the cost of essential inputs, squeezing profit margins for startups.
Moreover, limited access to credit and investment capital makes it difficult for emerging foodtech companies to secure the necessary funding to invest in crucial technology, infrastructure, and expansion efforts.
This financial constraint can stifle innovation and prevent promising ventures from reaching their full potential.
The digital divide also poses a unique challenge for foodtech companies aiming to leverage online platforms and digital solutions. While mobile phone usage is widespread in Nigeria, disparities in digital literacy and access to reliable internet connectivity can restrict the widespread adoption of online food ordering and delivery services, particularly in rural and underserved communities.
This necessitates creative and inclusive strategies to bridge the digital gap and reach a broader consumer base.
Inefficiencies within the supply chain represent a critical bottleneck in the Nigerian food system. Fragmented agricultural supply chains, characterised by numerous intermediaries and a lack of transparency, contribute to alarmingly high post-harvest losses.
Inadequate storage facilities and inefficient transportation infrastructure further compound these issues, leading to significant waste and price volatility.
Addressing these systemic weaknesses is crucial for ensuring a stable and affordable food supply for all Nigerians.
Navigating Nigeria’s regulatory landscape can also be a daunting task for foodtech businesses. The presence of multiple regulatory agencies, coupled with often bureaucratic and time-consuming processes for obtaining licenses and permits, can create significant hurdles for startups. Clear, consistent, and streamlined processes within the regulatory framework are essential to foster a more enabling environment for innovation and growth.
Building consumer trust and acceptance for new food technologies requires overcoming inherent skepticism and unfamiliarity. Concerns regarding food safety, quality, and the security of online transactions can hinder the adoption of novel food products and digital platforms.
Transparent communication, robust quality control measures, and consistent consumer engagement are vital for building confidence and fostering widespread acceptance.
Finally, a notable talent gap exists within the Nigerian foodtech ecosystem.
A shortage of professionals possessing specialised skills in food science, technology, business management, and logistics can limit the growth and innovation capacity of companies in this sector. Addressing this skills deficit through targeted training and development initiatives is crucial for long-term success.
Despite these significant challenges, promising pathways forward can be forged through innovative and context-specific approaches. Investing in localised infrastructure solutions, such as independent power generation and efficient localised logistics networks, can mitigate the impact of broader infrastructural deficiencies.
Exploring diverse funding avenues beyond traditional banking, including angel investors, government grants, crowdfunding, and revenue-based financing, can alleviate financial constraints.
Adapting to the digital divide by leveraging basic mobile technology and employing offline strategies like local agent networks can expand reach and inclusivity.
Building resilient supply chains through direct farmer relationships, investing in aggregation centres, and utilising technology for farm management offer tangible solutions to logistical inefficiencies.
Proactive engagement with regulatory bodies and advocating for clearer, more supportive policies are crucial for navigating the regulatory landscape effectively. Building consumer trust necessitates transparent sourcing practices, clear communication about product benefits and safety, and active engagement with consumer feedback.
Finally, investing in talent development through collaborations with educational institutions and in-house training programs can bridge the critical skills gap.
Foodstuff Store is emerging as a business with a clear vision to directly confront several of these challenges. We are actively developing a decentralised network of businesses supported by strategically located distribution hubs across target states.
This approach will directly address the limitations imposed by poor road networks, ensuring more localised access to our food products.
Furthermore, the establishment of regional storage facilities, including a state-of-the-art solar-powered cold storage, directly tackles infrastructural deficiencies related to food preservation and ensuring a consistent supply.
Foodstuff Store’s ambition for end-to-end management of the food supply chain, encompassing in-house production, direct sourcing, advanced storage solutions, and efficient distribution, offers a powerful solution to existing supply chain inefficiencies.
This integrated approach promises enhanced quality control, significant reductions in post-harvest losses, and a more reliable supply of both perishable and non-perishable goods for our customers.
Our aspiration to become the “Amazon for Food Products” is a clear and ambitious goal underpinned by a technology-driven approach to all aspects of our operational management.
Foodstuff Store’s vision underscores a business model strategically designed to overcome significant hurdles within the Nigerian foodtech sector, offering a beacon of potential and a pathway to a more secure and efficient food system in a challenging yet remarkably promising landscape.
Broadcasting
History as TVC News Unveils Nigeria’s First AI-Powered News Anchors

TVC News has broken new ground in Nigeria’s media space with the launch of the country’s first Artificial Intelligence (AI) news presenters.
Rolled out in May 2025, the AI anchors will deliver news bulletins in English, Yoruba, Hausa, Igbo, and Pidgin, reflecting the broadcaster’s commitment to technological advancement and linguistic inclusion.
The initiative is designed to enhance news delivery by supporting human journalists, not replacing them.
TVC Communications, the parent company of TVC News, described the development as a milestone in its efforts to integrate cutting-edge technology into broadcast journalism.
“We are thrilled to pioneer this innovation in Nigeria’s media industry,” said Victoria Ajayi, chief executive officer, TVC Communications.
“Our AI news anchors represent a new era in news reporting, and this move underscores our dedication to using technology as a tool for growth and progress.”
Ajayi clarified that the AI-generated content will undergo thorough editorial review.
“Trained journalists and editors will assess every output to ensure it meets our standards of accuracy, balance, and credibility,” she noted.
In response to concerns about the potential misuse of AI, the organisation said it had established rigorous editorial safeguards, including watermarking and verification protocols. It also reaffirmed its adherence to the Nigerian Broadcasting Code and journalistic ethics.
With this launch, TVC News has become a trailblazer in AI-assisted journalism in Africa, setting a bold example for future media innovation across the continent.
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