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The Impact Investors Foundation, Global Steering Group for Impact Investment (GSG) and the Financial Reporting Council of Nigeria (FRC) have partnered to equip over 100 Micro, Small and Medium Enterprises (MSMEs), financial and sustainability professionals in the public and private sectors in 2024.
The training collaboration stemmed from the introduction of the IFRS Sustainability Disclosure Standards by the new International Sustainability Standards Board for MSMEs in Nigeria, according to a statement.
“The training conducted in Lagos and Abuja prepared companies for implementing the IFRS Sustainability Disclosure Standards. This implementation aims to establish a uniform global standard for financial reporting, which organisations believe will benefit investors in their decision-making process,” the statement said.
It said large corporate SMEs, enterprise support organisations, investors, chambers of commerce, policymakers, financial regulators, professionals of the accounting profession, and academia were present at the training.
Ibukun Awosika, chairperson for Nigeria’s National Advisory Board for Impact Investing Foundation, said conversations on impact transparency and measurement were important to position Nigeria for the benefits of impact investment and increase the flow of capital to the nation.
“Having the right partners, working with the right organisations like FRC so that they are winning, to give value to companies who are willing to support what is a global vision,” she said.
She added that if there are nations of the world that should be at the edge of impact investing and benefit from it, then definitely the country should be number one.
“We have so much to do, to contend with and it allows us to have our problems looked at from a different view,” she added.
Etemore Glover, CEO of Impact Investors Foundation, said increased transparency gave more opportunities to FDIs, impact capital, partnerships, and long-term value creation and sustainability of businesses.
