The Sterling One Foundation has disclosed that the Africa Social Impact Summit has catalysed strategic partnerships and attracted over $1bn in investments to drive scalable solutions across Africa.
The Chief Executive Officer of the foundation, Mrs Olapeju Ibekwe, disclosed this on Wednesday while opening the fifth edition of the summit in Lagos.
The three-day event, co-convened by the Sterling One Foundation and the United Nations in Nigeria, is themed ‘Financing for Development: Building Resilience and Transforming Emerging Economies.’
Ibekwe stated that the summit was established around three key objectives: catalysing multi-level partnerships, attracting impact investments into scalable solutions, and advocating for policies to drive sustainable development.
According to her, the event has evolved from an annual gathering into an implementation platform focused on translating investments and policy advocacy into measurable outcomes across the continent.
“Five years is a journey. Five years is a statement. Five years is a struggle. Five years is assurance. Five years is a hope of a future we can all carve together,” she said.
Ibekwe urged participants to approach discussions with a strong sense of responsibility, stressing that Africa’s future depends on collective efforts to tackle challenges in education, healthcare, and other critical sectors.
“Anyone who steps into this hall immediately becomes responsible. Responsible for a better future. Responsible for a better continent,” she added, urging stakeholders to ensure every African child gets quality education and healthcare.
The summit convened government officials, investors, development partners, private sector leaders, philanthropists, civil society organisations, and entrepreneurs to explore financing mechanisms for Africa’s development.
Organisers noted that the 2026 summit is expected to host over 2,000 participants from 54 countries and more than 50 industry leaders. Discussions will cover climate action, health, education, agriculture, renewable energy, circular economy, as well as water, sanitation, and hygiene.
The push to mobilise private capital comes as Nigeria continues to tackle funding deficits in critical sectors. The World Bank approved $1.08bn in concessional financing for Nigeria in 2025 to support education, nutrition, and economic resilience, including $500m for the HOPE for Quality Basic Education for All project.
Recently, the Federal Government launched a $552m education initiative backed by the World Bank and the Global Partnership for Education, targeting improved learning outcomes, infrastructure, and support for about 29 million children, over 500,000 teachers, and 65,000 public schools.
Similarly, the World Bank approved $500m for Nigeria’s Building Resilient Digital Infrastructure for Growth project to expand broadband connectivity to underserved communities, public schools, and healthcare facilities.
Speaking at the summit, the Minister of State for Education, Prof. Suwaiba Ahmad, stated that transforming Nigeria’s education sector requires stronger collaboration with private investors, development partners, and civil society groups.
Ahmad highlighted inadequate digital infrastructure, limited connectivity, electricity deficits, and digital skill gaps as major hurdles to educational reform. She called on private entities to boost investments in school connectivity, educational technology, teacher development, STEM, artificial intelligence, and vocational training.
The minister commended the Sterling One Foundation for its interventions in scholarships, teacher training, and school infrastructure. She revealed that the ministry has created a coordination unit to align private investments with national education priorities, eliminating isolated efforts.
In his keynote address, Prof. Oyebanji Oyelaran-Oyeyinka emphasised that sustainable financing remains critical to industrialisation, infrastructure, and job creation. He warned that African economies risk remaining trapped in poverty without structural transformation, urging a shift from raw commodity exports towards manufacturing and value-added production.
Representing Governor Babajide Sanwo-Olu, the Deputy Governor of Lagos State, Dr Kadri Hamzat, noted that no single entity can fund Africa’s growth alone. He outlined Lagos State’s partnerships in transport infrastructure, healthcare, education, climate resilience, and digital innovation, adding that the transition to a green economy presents massive job creation opportunities.
Hamzat urged delegates to ensure the summit yields actionable investments and scalable partnerships rather than mere speeches and communiqués.
The Africa Social Impact Summit 2026 is scheduled for a three-day run in Lagos, focusing on practical financing models and partnerships to build resilient emerging economies.
Jide, a seasoned journalist with over 12-year experience, reports business-related stories
All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from PUNCH.
Stay informed and ahead of the curve! Follow The Punch Newspaper on WhatsApp for real-time updates, breaking news, and exclusive content. Don’t miss a headline – join now!
Stay in the know—fast. Get instant alerts, breaking headlines, and exclusive stories with the Punch News App. Download now and never miss a beat.
