The African Private Equity and Venture Capital Association (AVCA), a pan-African industry body which promotes and enables private investment in Africa, has announced the launch of its newly inaugurated Sustainability Committee.

Michelle Essomé, AVCA CEO, said that the Sustainability Committee will accelerate AVCA’s efforts to facilitate sustainable value creation in African markets.

“This is critical because when delivered in the right way, sustainable private equity investment can be a powerful development stimulus; creating jobs, funding essential infrastructural development, providing services, encouraging innovation, promoting standards and ultimately, boosting economies,” she said.

On behalf of the Association, the advisory group will lead future research, advocacy and educational initiatives around sustainable development and will share the latest trends and insights on key sustainable investment issues with AVCA members.

The Sustainability Committee is led by Runa Alam, CEO at Development Partners International (DPI) and the former chair and current board member of AVCA.

She will be supported by a team comprising senior level Partners, investment partners, and sustainability specialists from private equity firms, as well as LPs with expertise in sustainability that are actively investing in the African venture capital and private equity markets.

The members of the Sustainability Committee include: Abir Attia (AfricInvest), Guy Alexander (CDC Group), Eme Essien Lore (IFC), Michael Hall (DPI), Matthew Hunt (South Suez Capital), Alcina Goosby (New York State Common Retirement Fund), Tokunboh Ishmail (Alitheia Capital), Dorothy Kelso (AVCA), John Kristensen (Swedfund), Doug Lacey (LeapFrog Investmentts), Kate Murhy (Soros Economic Development Fund), Constance Omawumi Kola-Lawal (African Capital Alliance), Geetha Tharmaratnam (The Abraaj Group) and Brigit van Dijk – van de Reijt (DOB Equity).

Over the next year, the Sustainability Committee will assist AVCA to further build on its series of industry research and materials, elevating awareness and understanding of private equity and venture capital in Africa.

Overall, this will strengthen AVCA’s ability to help the market mature and adjust to the evolution of new Environmental, Social and Governance (ESG) requirements and by doing so, continue to champion the private equity and venture capital asset class in Africa.

Alam said: “I am proud to be chairing this Committee, and along with the other members, I am committed to supporting AVCA in continuing to shape and promote value-added information about sustainable development in Africa, in order to deepen global awareness of the continent’s unique market characteristics and potential.”