The Rockefeller Foundation and the The Tony Elumelu Foundation have launched an impact investment fund for Africa. The fund, called the Impact Economy Innovation Fund (IEIF) was officially launched on Friday at an Impact Investment Forum in Cape Town, South Africa. The forum, which was attended by many leading African entrepreneurs, was jointly hosted by The Rockefeller Foundation, The Tony Elumelu Foundation and the Bertha Centre for Social Innovation & Entrepreneurship at the University of Cape Town (UCT) Graduate School of Business with the aim of introducing Africa’s business leaders to the concept and practice of impact investing. Impact investing, a relatively new concept in African investment circles, typically refers to investments that aim to solve pertinent social and economic challenges while generating a financial return. The impact investing industry channels capital to market-based solutions in areas such as affordable housing, clean technology, financial services for the poor, sustainable agriculture and other related sectors while targeting returns ranging from below market to market rate. The IEIF will be managed by The Global Impact Investing Network (GIIN) in close collaboration with the Tony Elumelu Foundation and The Rockefeller Foundation. While the Rockefeller Foundation and the Tony Elumelu Foundation refused to divulge the exact size of the fund, the IEIF will support approximately 7-8 proposals with a preference for projects that seek to enable capital solutions, foster entrepreneurial ecosystems and promote impact investing industry infrastructure – ultimately aimed at improving the lives of poor or vulnerable people throughout Africa. The maximum grant amount is USD 100,000 and organizations may participate in more than one grant proposal. Interested organizations can find more information on how to access the fund here.

The Rockefeller Foundation Presents at AVCA 10th Annual Conference, Apr-08-2013 through Apr-10-2013. Venue: Cape Town, South Africa. Presentation Date & Speakers: Apr-10-2013, Eme Essien Lore, Associate Director - Africa.

The Rockefeller Foundation announced that Neill Coleman has been appointed as Vice President, Global Communications, effective August 13, 2012. Coleman comes to The Rockefeller Foundation from the US Department of Housing and Urban Development where he serves as Chief External Affairs Officer. Coleman will report to Dr. Rodin and oversee the Foundation's global communications team in New York, Bangkok and Nairobi.