IFFAC seeks to address the gap between public intervention and business reality in the creative and cultural sectors of Africa. This significant ‘funding gap’ within the creative and cultural industries in Africa is due to perceived high risks and/or low estimated returns for private investors. However, such investments are often ideal for blended finance arrangements where donors and public stakeholders contribute with technical assistance, risk coverage etc., in order mitigate risk and facilitate more predictable and risk adjusted rates of return for private investors on the part of their impact investments.
As one of the first funds of this type and scale, definitions of the legal structure and mechanisms of the Fund are still being defined diligently by the team, and news on the advancements of the Fund will be shared in due course. The team is also in the process of raising the Fund’s capital from institutional investors including development finance institutions, impact investors, high-net worth individuals, family offices and foundations.
In parallel with IFFAC, the African Fashion Fund and the Ethical Fashion Initiative are developing an Accelerator Programme to facilitate the growth of a first pool of African brands, with the potential for these brands to become beneficiaries of IFFAC at a later stage. To launch the accelerator, a call for interest was issued (see below) to select approximately 6-8 brands to take part in a fashion show in an international fashion capital, alongside some of the biggest names in the industry. The designers will be selected by a panel of industry experts.
CALL FOR AFRICAN DESIGNERS 📣
Are you a designer living or working in Africa?
This is a unique opportunity to participate in the IFFAC Accelerator Programme, focused on supporting and strengthening emerging African brands.
How to apply?
Submit a letter of motivation, a copy of your ID, a copy of your business registration and 10 high-res images of a new collection you would like to present, to email@example.com.
Deadline for applications – 30th June 2019.
Due to a high volume of applications, only shortlisted candidates will be contacted for the next stage of recruitment.
✨For more see IFFA-C.com✨