LAGOS, Nigeria, July 22, 2024 -- Impact Investors Foundation (IIF) (https://ImpactInvestorsFoundation.org) is proud to announce the appointment of Kuramo Capital Management as the official fund manager for the Nigeria Wholesale Impact Investment Fund (WIIF). This strategic partnership marks a significant milestone in Nigeria's journey towards sustainable development and impactful investment.

Kuramo Capital Management, a leading investment firm with a strong track record in managing assets across Africa, will leverage its expertise to drive the WIIF’s mission of fostering social and environmental impact alongside financial returns. The fund aims to address critical issues such as poverty alleviation, job creation, and sustainable economic growth through targeted investments in key sectors including agriculture, renewable energy, healthcare, and education.

"We are delighted to partner with Kuramo Capital Management, a firm that shares our vision of harnessing the power of capital for good," said Ms Etemore Glover, CEO of IIF. "With Kuramo's expertise and commitment to impact, we are confident that the WIIF will drive significant positive change and contribute to the sustainable development of Nigeria while achieving market risk-adjusted return to investors."

"We are honoured to be entrusted with the management of the WIIF," said Mr. Wale Adeosun, Founder and CEO of Kuramo Capital Management. "Our team is dedicated to achieving the fund’s objectives and delivering both financial returns and measurable social impact. We look forward to working closely with all stakeholders to realize the full potential of this transformative initiative."

The structuring of the Nigeria Wholesale Impact Investment Fund is set to commence under the management of Kuramo Capital Management immediately, with a first close of $100 million. This collaboration is expected to catalyze further interest and participation in the impact investment space within Nigeria and Africa.