The government of Nigeria is putting its money where its mouth is.
The country's finance minister announced Thursday that the government is providing 50% seed capital for the Nigerian Wholesale Impact Investment Fund, the Guardian reports.
The WIIF, which the country's minister of state, Finance, Budget, and National Planning called an "alternative instrument for the effective implementation of public welfare and social schemes," is designed to "drive sustainable and impactful investment in the country by channeling financial resources into projects and enterprises that generate positive social and environmental outcomes," per a release.
The fund, which is expected to open for business in March, is designed to create jobs and boost the country's economy by investing in socially and environmental-friendly businesses, as well as boosting the country's renewable energy capacity.
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Ganesh Natarajan is the Founder and Chairman of 5FWorld, a new platform for funding and developing start-ups, social enterprises and the skills eco-system in India. In the past two decades, he has built two of India’s high-growth software services companies – Aptech and Zensar – almost from scratch to global success.