Private equity manager Angola Capital Partners (ACP), a joint venture between Banco Angolano de Investimentos (BAI) and Norfund, launched today its first Impact Report presenting the impact of its 10 years of activity in Angola.
Luanda, November 19, 2018
ACP focuses on a “Triple Bottom Line” investment approach to achieve positive results in three core metrics: (i) economic viability and financial return; (ii) sound environmental and social performance (ESG); and (iii) governance and integrity.
The Impact Report describes the implementation results of ACP’s investment approach and the role of private equity as catalyst for the development of Angola. Some of the impact findings are:
- 1,600 new jobs created, of which over 30% is youth (first time) employment;
- 30% female representation across ACP portfolio in 2017 (increasing from 23% in 2012);
- 8 million fresh food produce packs provided to costumers per annum;
- 5 million building materials that enable new 1,700 homes per annum;
- 160 tons fish caught over the investment period that feed 1.8 million consumers per annum; and
- USD60 million of total government taxes and fees paid;
Norfund highly values the partnership with BAI and Angola Capital Partners. Our investments in FIPA I and FIPA II demonstrates Norfund’s strategy to establish profitable and sustainable local enterprises in frontier markets.
The positive results from this impact research shows that by taking considerable risks and deploying significant human and financial resources over an extended period of time, it is possible to do good by making sustainable investment in developing countries in Africa
Finn Ivar Marum, EVP, Norfund
The report further describes ACP’s contribution to selected parts of Angola 2025 Strategy and the National Development Plan:
- Food Security and Import Substitution through investment in Agriculture and Fishing;
- Environmental Protection and Sustainability through investment in Waste Management;
- National Reconstruction through investment in Building Materials;
- Economic Diversification through investment in SMEs outside the oil and gas sector;
- Job Creation, Training and Dignity in the Workplace through good corporate governance and compliance with labor laws and best practices; and
- Economic Growth through tax contribution, local procurement and indirect jobs.
The report were produced by EBS Advisory, the leading ESG and impact consultancy in Africa. The launch event was hosted by the Ambassador of Norway at his Official Residence in Luanda.
“...with this report, we would like to invite all interested stakeholders to partner with us on this journey to a more prosperous Angola. When you read about what has been achieved thus far with the limited available resources, imagine what can still be done in the future if we are made stronger together”
Tiago Laranjeiro, Partner at Angola Capital Partners
The full report can be viewed here: