In the face of inequalities in wealth and opportunity worsened by the COVID-19 pandemic, impact investing – an approach that integrates society’s social and environmental goals, can no longer be ignored, according to Vice President Yemi Osinbajo, SAN.

Osinbajo made the observation in a keynote speech delivered virtually at the 4th Impact Investors’ Foundation Annual Convening on Impact Investing.

According to the Vice President, “glaring inequalities of wealth and opportunity in the face of poverty, misery and social alienation in any society is asking for trouble. Such a situation is neither sustainable nor wise.

“The sharp drop in standards of living caused by COVID-19-induced shocks to the economy have not only further deepened existing inequalities, but pushed many more into extreme poverty.

“Neither governments nor businesses can afford to ignore the huge social disparities and environmental deterioration for long.

“So, impact investing is an eminently sound approach to balancing these inequities by catalyzing social and environmental impact for long-term structural change.”

He explained that “profit and sound social and environmental benefits can co-exist and governments can be facilitators of impact investment.”

Continuing, Prof. Osinbajo noted that “but because the logic of the profit motive as being the driver of innovation, wealth creation and growth is unassailable, the real question is how to ensure that it accommodates a moral compass.”

Advocating the growth of impact investing in Nigeria, the VP further explained that “a more sustainable business model is intentionally building into the profit making objective, the means of attaining society’s social and environmental goals. The notion of doing well by doing good, or harnessing the forces of innovation, entrepreneurship, private capital to achieve both profit and social and environmental good.”

“Some of the current models of impact investing we are seeing are not only inspiring but also point in the general direction that policy and regulation should go,” the Vice President added.

Citing examples in both public and private sectors, the VP noted that “there is an opportunity for collaborative thinking between government, the impact investing community and other stakeholders on policy and regulations.”

The VP cited the example of a digital agriculture company, Farmcrowdy which has “a platform that allows individuals to securely invest in farms online, enabling them to participate in agriculture indirectly.

“The other is Andela, the highly successful technology company that recruits and trains local software engineers at little or no cost, who in turn work remotely for them in various global companies, thereby generating good paying jobs for thousands of young people.”

nairavsdollars:
Osinbajo will finish us with sermons plus motivational speaking without any action if he becomes president

donestk:
Sounds academic

EmekaBlue:
Na this Errand boy Una wan give President abi.
I laugh in swahili. His tenure go be just to dey blow hot Grammar with Zero impact to the people.

Fakest VP ever. Who your English epp?!

Next news please

TheRareGem1:
The FDI & PPP are key tools for economic prosperity, however, insecurity remain the main challenge, if we can win the war against insurgency, and other social vices, we are go to go because this is affecting a lot of Nigerians, farmers are unable to go farm, people are afraid to travel because the road is unsafe.

obembet:


Mention any (past) vice president that is normal or any debuty governor by that is a active in Nigeria. Some people don't even know the name of debuty Governor in thier state.

The last time I saw debuty Governor of Rivers state was during election. Wike have been doing everything.. even commissioner are just useless as Buhari in rivers state.

So don't blame Osinbanjo, na do Nigeria politics dey work.

TheRareGem1:
The FDI & PPP are key tools for economic prosperity, however, insecurity remain the main challenge, if we can win the war against insurgency, and other social vices, we are go to go because this is affecting a lot of Nigerians, farmers are unable to go farm, people are afraid to travel because the road is unsafe.

anbel:
keep preaching to us like we are his redeem congregation