Browsing: Philanthropy

2024 Grantmakers Summit
  • 2024 Grantmakers Summit brought together 159 organisations from the East African region to explore innovative and strategic approaches in philanthropy.
  • The summit, titled “Strategic Philanthropy in a Dynamic Era,” brought together grantmakers to discuss the future of philanthropy amid global changes.
  • Kimani also emphasised the need for a holistic approach to philanthropy, integrating environmental, social, and economic dimensions to address root causes

Organisations in the Philanthropy space will have to explore new funding models, such as impact investing, blended finance, and social enterprises to remain relevant, industry players have revealed.

Experts at the 2024 Grantmakers Summit argued that these models offer new avenues for sustainable growth and enhance the resilience of philanthropic efforts.

They were speaking during the opening ceremony of the summit that brought together 159 organisations from the East African region to explore innovative and strategic approaches in philanthropy.

East Africa Philanthropy Network Board Chair Eric Kimani, said …

 PATIENT CAPITAL: 

HOW DONORS CAN DRIVE ECONOMIC GROWTH AND DEVELOPMENT IN AFRICA THROUGH A NEW MODEL OF PHILANTHROPY 

Foreign aid has been a key driver for social and economic growth, as well as bridging the domestic development financing gap in Africa. Unfortunately, the continent has not utilized the tremendous value of philanthropy to unlock market shaping and economic growth opportunities as it should. Countries in Africa therefore need to rethink how they approach development financing by exploring philanthropy as a tool for the scale-up of impactful solutions driven by market-based, self-sustaining approaches. 

One of the ways economies in the global south progressively leap out of poverty is by opening up spaces for more innovative use of philanthropic capital to spark up the ecosystem for innovation that delivers sustainable economic and social value. 

Patient capital is an interesting new trend in development that is changing the way the world looks at