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The DFID Impact Programme: Theory of Change

This presentation describes how the DFID Impact Programme aims to help build the market for impact investment in Sub-Saharan Africa and South Asia and support poverty reduction. Press play or click the right arrow to begin.

Joe Shamash

on 27 October 2015

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Transcript of The DFID Impact Programme: Theory of Change

Small, growing markets
Big potential
Significant constraints
Circa $1.5bn committed capital reported in 2013 and forecast to grow
Emerging evidence of positive social impact and financial performance.
High level of interest from investors, governments, donors
High expectations for growth
An emerging tool for private sector development and poverty reduction at scale.
Network building and communications
Development of market infrastructure and resources
ImpactBase, http://www.impactbase.org
IRIS metrics, http://iris.thegiin.org
Capacity building
Project Coordination

Monitoring & Evaluation
Investment into BOP focused funds and business
Impact investment catalysed in Sub-Saharan Africa & South Asia
At least 5 million people at the BOP reached through companies as consumers, suppliers, distributors or employees
Higher volume of capital in target regions (BOP focus)
More Funds in target regions
Improved investor confidence/awareness in Sub-Saharan Africa and South Asia, and BOP focus
Impact investment market positioned to support development and poverty reduction at scale.

Benefits to livelihoods for poor people as a result of improved access to goods, services and income generating opportunities
Influence behaviour
of market stakeholders

Improved market confidence and awareness.
Improved Base of the Pyramid (BOP) focused investment and business activity.
Poor people have
Greater access to affordable goods and services.
Greater access to income generating opportunities.
External factors & assumptions
Benefits to livelihoods for poor & low-income people
Market constraints alleviated
Dissemination of DFID Impact Fund lessons
Improved track record of portfolio Funds
Growth in use of IRIS metrics in Sub-Saharan Africa and South Asia
Impact Investment market infrastructure development via ImpactBase & research
Capacity development of Funds.

At least 3 DFID portfolio Funds
Approx. 70-100 investee companies
Matched investment into Funds
Investment leveraged into investee companies
Improved capacity of portfolio Fund Managers.

The DFID Impact Fund of Funds
Managed by CDC, http://www.cdcgroup.com/How-we-do-it/Types-of-capital/DFID-Impact-Fund/
Up to £75m in impact investment in Sub-Saharan Africa and South Asia over 13 years.
Plus Technical Assistance for investee companies.
Market building
The Impact Programme is a catalytic intervention in a large and diverse environment. The intervention's intended outcomes and impact are therefore dependent on a number of external factors, including:
Local and regional policy and regulatory environments
Wider investment conditions
Public perceptions of impact investment
The Impact Programme is not structured to influence these factors directly, however three practices are embedded throughout the programme lifecycle in order to ensure responsiveness and effective coordination:
Broader market research
Continuous stakeholder engagement through Programme partners
Capacity building support for Fund Managers and companies
The Impact Investment Market in Sub Saharan Africa and South Asia in 2013
Impact Investment

“Investments made into companies, organizations, and funds with the intention to generate social and environmental impact alongside a financial return. Impact investments can be made in both emerging and developed markets, and target a range of returns from below market to market rate, depending upon the circumstances."
Direct benefits to livelihoods for at least 5 million poor and low-income people through companies receiving DFID Impact Fund investment.
Forecasts for impact investment market growth in Sub-Saharan Africa and South Asia

Lack of market infrastructure
High uncertainty
Perceived high risk
Lack of Fund Manager capacity and track record.
Press play or 'right' to begin
Early investments in agriculture, education, energy, sanitation
Direct results of DFID Impact Fund investment
Learning and demonstration effect
Full transcript