The African Women Impact Fund Foundation (AWIFF)

About the foundation

The African Women Impact Fund (AWIF) is an initiative of the UN Economic Commission for Africa (ECA) and its partners (UN Women, the Office of the Special Envoy on Women, Peace and Security of the African Union Commission, and the African Women Leadership Network) established in collaboration with the Standard Bank Group, MiDA Advisors, and RisCura with the aim of creating a sustainable investment platform to grow the number of women asset managers on the African continent.

The foundation was established in Jersey on 1 December 2020 by Standard Bank Offshore Trust Company Jersey Limited (“SBOTCJL”) for the Standard Bank Group.

The main objective of the Foundation

The Foundation was created to support the AWIF initiative, which aims to raise up to $1 billion over 10 years (€840 million or R15.1 billion) for women fund managers, who in turn will invest in high-impact businesses and projects across the African continent. Standard Bank Group and MiDA Advisors partnered with UNECA to launch AWIF in 2020 in response to the African Union’s Agenda 2063 and the UN’s Sustainable Development Goals 5 and 8 – which target gender equality, decent work and economic growth and to address the gender inequality that less than 5% of asset managers in Africa are women. The African Women Impact Fund Foundation, will secure donations from international donors,  and will provide support to the AWIF initiative by providing capital, operational support and a structured development programme

Key focus areas

The purposes of the AWIF Foundation include:

• Supporting and developing women fund managers in Africa;
• Promoting the sustainability of women-owned management firms in Africa;
• Growing the number of women owned management firms in Africa;
• Supporting the general development and growth of women fund managers in Africa through direct and indirect programmes;
• to invest in the AWIF; and to provide operational support towards the AWIF.

Standard Bank Offshore Trust Company Jersey Limited (SBOTCJL)

In addition to establishing the AWIF foundation, the following services are provided by SBOTCJL in Jersey:

• Liaising with legal advisors and relevant stakeholders to achieve all regulatory requirements
• Provision of the Foundation’s Qualified Member
• Acting as secretary to the meetings of the Foundation Council and the Foundation’s Advisory Committee
• Preparation of financial statements
• General services to ensure the Foundation is fully compliant

Strategic partners for the Foundation

• United Nations Economic Commission for Africa (ECA)
• Standard Bank Group
• MiDA Advisors
• RisCura