On 12 December, 2018, the Global Steering Group on impact investment (GSG) with support from IIX Chapter Lusaka and 4IP Group brought together 45 various stakeholders of the ecosystem to discuss the impact investing movement in Zambia and constitute a taskforce for the establishment of a National Advisory Board (NAB).
Among the dignitaries’ present were the Hon. Minister of National Development and Planning (MNDP), the permanent secretary for the MNDP, Chief Executive Officer and Marketing Development Director for GSG, Head of Economic Growth, DFID and the Chairperson of the taskforce of the NAB.
In his welcoming speech, Amit Bhatia, CEO of GSG thanked everyone present and expressed strong optimism about the future of impact investment movement in Zambia. The GSG is present to fully support the impact investment movement in Zambia. He further expressed his belief that the establishment of a NAB will be a necessary vehicle between local and global actors focused on directing private capital to public purpose. The Honorable Minister also expressed strong interest and pledged his support on behalf of the Government of The Republic of Zambia for the initiative.
After the welcoming speeches from DFID’s Representative and the Chairperson of the GSG Taskforce for the Zambia NAB, Krisztina Tora, the Marketing Development Director for GSG delivered a presentation on state of impact investment industry in Zambia which is estimated as of 2015 at USD 1.8 billion. Further breakdown indicates that USD 157 million accounts for capital deployed by private impact investors while the remaining amount of USD 1.7 billion accounts for capital deployed by Development Finance Institutions (DFIs). She further highlighted the purpose and activities of the NAB and shared a few key success stories from already existing NABs particularly the South African NAB which currently is the only operational NAB on the African continent.
After the presentation, the moderator opened the floor for an interactive discussion on the matters arising from the presentations and the speeches. Some of the observations and contributions made include;
Upon the forthcoming establishment of the Zambian NAB the following issues could be addressed:
The meeting ended with a call from all invited guests to volunteer to be part of the proposed Taskforce for the NAB. Without hesitation, 18 people stemming from 5 building blocks of the Impact Investing Eco-System expressed an interest in participating. Consequently, the meeting led to the Constitution of the GSG taskforce which will commence drafting a business plan for the establishment of a GSG NAB in 2019.
The constituted Taskforce team met for the first time on the 21st of December at Yemeni leadership centre, at Stanbic Bank, where they planned for the exciting Impact Revolutionary tasks ahead in Zambia as well as in collaboration with the sister NABs in Accra, Nairobi and Cape Town.
4IP Group Zambia
 Stakeholders represented players from 5 pillars of the ecosystem namely supply of capital, demand for capital, market builders, intermediaries and policy/government.
 Zambia is a favoured destination for impact investors in the southern Africa region. It’s the second highest recipient ( after South Africa ) of DFI capital and third highest (after SA and Angola) of private impact capital
 See the following 4IP Group resource: http://4ipgroup.org/wp-content/uploads/2018/10/Supply-of-Impact-Capital_Pension-Funds-Next-Frontier.pdf
 Source: https://businessfightspoverty.org/articles/most-millennials-will-only-work-for-purpose-driven-firms/