- The Alternative Bank showcased its catalytic capital approach at ASIS 2024, highlighting its role in sustainable development in Africa.
- Key initiatives, such as the Lagos Rice Mill and electric transportation for women in Kano, were highlighted as examples of catalytic capital’s impact.
- The Africa Social Impact Summit aimed to build partnerships, attract impact investment, and advocate for supportive policies for sustainable growth.
The Alternative Bank took a prominent role at the Africa Social Impact Summit (ASIS) 2024, highlighting its catalytic capital approach as a transformative tool for sustainable economic growth across Africa. The summit, co-hosted by the Sterling One Foundation and the United Nations, was held under the theme “Reimagining Progress: A New Blueprint for Sustainable Growth in Africa.”
During the summit, Obafemi Hamzat, the Deputy Governor of Lagos State, spoke on behalf of Governor Babajide Sanwo-Olu. Hamzat emphasised the crucial role of catalytic capital in advancing sustainable development. “ASIS 2024 must drive collaboration and action for sustainable development in Africa,” Hamzat asserted. He elaborated on how public-private partnerships, bolstered by catalytic capital, are essential for attracting impactful investments to propel the continent toward its sustainability goals.
Korede Demola-Adeniyi, the Executive Director-South at The Alternative Bank, took the opportunity to showcase the effectiveness of catalytic capital through real-world examples. She highlighted significant projects such as the Lagos Rice Mill and the electric transportation initiative for women in Kano.
“These projects exemplify the potential of catalytic capital and strategic partnerships to make previously unfeasible projects a reality,” Demola-Adeniyi explained. Her presentation underscored how these initiatives drive substantial social impact and demonstrate the power of well-coordinated financial and operational support.
The summit also featured remarks from Mrs. Olapeju Ibekwe, CEO of Sterling One Foundation. Ibekwe articulated the critical objectives of ASIS 2024, emphasising the summit’s role in building and scaling partnerships across various sectors.
“ASIS aims to establish strong partnerships, attract increased impact investment, and advocate for policies that support sustainable growth,” Ibekwe noted. She highlighted the summit’s commitment to fostering collaborations that can lead to scalable and impactful outcomes across the continent.
The Alternative Bank’s participation in ASIS 2024 underscores its commitment to leveraging catalytic capital to drive progress and sustainable development in Africa. By showcasing successful projects and advocating for strategic partnerships, the bank is positioning itself as a leader in transforming ambitious ideas into impactful realities.
The bank’s approach highlights the importance of catalytic capital and serves as a model for other organisations looking to contribute to Africa’s sustainable growth.