The new appointee is GIIN’s fourth global liaison.

The Global Impact Investing Network has hired Ashley Elliot, of research and strategy firm Sofala Partners, as global liaison for East Africa.

“Impact investment” was a term coined in 2007 by the Rockerfeller foundation, and denotes investments made into companies, organisations and funds with the intention to generate social and environmental impact alongside a financial return. Such investments can be made in both emerging and developed markets, and target a range of returns from below market to market rate, depending upon investors’ objectives.

Elliot is managing partner of Sofala, where he helps lead the firm in giving advice to organisations operating in sub-Saharan Africa, including impact investors. He has also worked as general manager at Africa Practice Tanzania, advising global companies on investment strategy in East Africa.

Elliot will work out of Dar es Salaam, Tanzania, to help the network build strategic partnerships, promote impact investing and support GIIN members across the region.  

“Ashley is a fantastic addition to the GIIN’s network of global liaisons. He brings a deep local expertise in a region that is of particular interest to a growing community of impact investors,” said Amit Bouri, chief executive and co-founder of the GIIN.

The addition of Elliot to GIIN is an indication of this type of investment gaining ground amongst investors in East Africa.

“At the recent GIIN Investor Forum in Amsterdam, we asked a room packed with impact investors from around the world whether they were interested in East Africa. More than 80 per cent raised their hands. There’s clearly massive demand to find and finance viable projects in the region,” said Elliot.

GIIN’s most recent annual impact investor survey of 158 investors in May 2016 said that $15.2 billion in impact investments was committed to be invested in 2016, with $49.5 billion impact investing assets under management. While not a major portion of total assets managed, these are certainly promising figures for this form of investment.

The GIIN is a nonprofit organisation focusing on increasing the scale and effectiveness of impact investing around the world. It builds infrastructure and supports activities, education, and research.

This publication recently reported that the former founding executive director of the United Nations Principles for Responsible Investment has joined UBS Wealth Management as its senior impact investing strategist. Read more here.

Click here to read WealthBriefing's recent interview with Nick O’Donohoe, senior advisor to the Bill and Melinda Gates Foundation and founding chief executive of Big Society Capital, on the topic of impact investing and its continuing emergence.