Africa’s social innovators turn impact investing into a transformative growth engine

Frank Aswani, Chief Executive Officer of the African Venture Philanthropy Alliance (AVPA), is a compelling advocate for Africa's potential to solve its own social challenges using homegrown resources. Aswani argues that Africa is abundant in social innovators, particularly talented young leaders who are passionately addressing issues they have personally encountered. The significant hurdle, he maintains, is the scarcity of capital following reductions in global aid and constrained public sector funding. To overcome this, Aswani emphasises the imperative to mobilise local private capital towards impact investing, thereby fostering sustainable solutions that resonate deeply with the continent's unique contexts.

Aswani highlights Africa’s remarkable culture of innovation, driven predominantly by its youthful population, as the continent’s greatest asset. Problems once regarded as shameful or insurmountable have, over the past two decades, been recast as “exciting investment opportunities.” A landmark example is mobile money, which transformed from a grassroots solution to financial exclusion into a vibrant and large-scale market. This innovation not only illustrates Africa’s creative potential but also serves as a model for social impact investing worldwide. “If you’re a true impact player in the world, and you’re not in Africa, you’re missing something really exciting,” Aswani states, portraying the continent as a “perfect sandbox” for testing innovations that enhance human productivity for the common good.

Aswani’s own journey underscores his dedication to the continent’s development. A former veterinary medicine graduate and student rugby captain in Nairobi, Aswani’s decade-long career in the pharmaceutical industry took him overseas, including to the UK. It was during this time away from home that he developed a renewed pride in his African identity and resolved to focus his career on Pan-African impact. His leadership role at AVPA aligns with this mission, as he works to channel investment towards social ventures capable of generating measurable and scalable benefits across Africa.

The African Venture Philanthropy Alliance, under Aswani's leadership, is a Pan-African network committed to increasing capital flows for social investments. It connects impact investors across the continent, fostering collaboration that accelerates progress toward the Sustainable Development Goals (SDGs). The organisation’s executive team, which includes regional directors and managers spread across Africa, ensures the effective implementation of initiatives aimed at tackling the continent’s diverse social challenges.

AVPA's active role in convening stakeholders is evident in its annual conference scheduled for early November 2025 in Nairobi. The event is expected to draw around 400 delegates from over 30 countries, providing a platform for sharing insights, forging partnerships, and advancing the impact investment agenda. Additionally, AVPA has formed strategic partnerships, such as with investorflow.org, to enhance co-investment opportunities and accelerate the mobilisation of financial, human, and intellectual capital into Africa’s social sector.

This networked approach complements the broader ecosystem of impact investing on the continent, exemplified by entities like the Africa Growth Fund. Its investment committee includes experts from various fields, such as gender-based violence and social impact, ensuring investment decisions are aligned with strategic goals that strengthen institutions and promote inclusive development.

Aswani balances the intense demands of his role through connections to sports, music, and family, which he credits with providing personal harmony and grounding. His conviction that Africa is a fertile landscape for social innovation resonates strongly throughout his work, positioning him and AVPA at the forefront of the continent's growing impact investment movement.

In sum, Frank Aswani and AVPA embody a vision where African-led solutions, supported by local private capital and international collaboration, drive transformative social change. This perspective not only challenges outdated narratives about the continent’s dependency but also places Africa firmly on the map as a dynamic hub of innovation and opportunity for investors committed to both profit and purpose.