Frequently Asked Questions

Savannah Impact Advisory (SIA) is a Securities and Exchange Commission (SEC) licensed investment advisor based in Ghana. We provide fund structuring, private fund management, impact investing, and gender lens investing advisory services to fund managers and institutional investors across West Africa.

SIA offers four core service lines: Fund Structuring (designing and establishing investment vehicles), Private Fund Management (active management of private market portfolios), Impact Investing (developing and executing impact strategies aligned to the SDGs), and Gender Lens Investing (embedding gender analysis into investment decision-making).

SIA is headquartered in Accra, Ghana, and operates across West Africa, with a primary focus on Ghana, Nigeria, Senegal, and Côte d'Ivoire. We work with fund managers, institutional investors, and development finance institutions across the region.

Yes. SIA is licensed by the Securities and Exchange Commission (SEC) of Ghana as an investment advisor. We operate within the regulatory framework governing collective investment schemes, fund management, and investment advisory in Ghana.

SIA is founded and led by Hamdiya Ismaila, who brings over 23 years of experience in finance, investment, and fund of funds management across West Africa. She is supported by an experienced multidisciplinary team and an independent board.

The Ci Gaba (Progress) Fund is a catalytic fund of funds managed by Savannah Impact Advisory. It is designed to unlock local patient capital for West African private funds and SMEs, with a focus on impact, gender equality, and long-term inclusive growth. The fund is Ghana-domiciled, open-ended, and denominated in Ghanaian Cedis (GHS).

The Ci Gaba Fund targets a total size of approximately GHS 1 billion, with a first close target of approximately GHS 420 million. Up to 70% of capital will be raised from institutional investors, primarily pension funds in West Africa, and the remaining 30% from catalytic investors.

Ci Gaba invests across West Africa, with a primary focus on Ghana, Nigeria, Senegal, and Côte d’Ivoire.

Ci Gaba makes primary subscriptions in professionally managed Private Equity, Venture Capital, SME-focused, and private debt funds targeting high-impact opportunities across West Africa. The fund also pursues opportunistic co-investments alongside portfolio funds where these align with its mandate.

The average investment size is approximately USD 5 million (GHS 60 million) per fund investment. Typical ticket sizes range from GHS 30 million to GHS 100 million, focused on emerging and experienced fund managers across West Africa.

The fund targets projected commercial returns of 20% IRR on the GHS, alongside strong development impact aligned to 6 Sustainable Development Goals. The fund structure is designed to deliver risk-adjusted returns for pension fund investors while maintaining its impact mandate.

The fund has a 4-year investment period. It is structured as an open-ended vehicle, allowing ongoing participation by institutional investors and catalytic capital providers over its lifecycle.

The Ci Gaba Fund is governed by an independent advisory board of up to seven members and a five-member investment committee, all drawn from private markets, impact investing, and development finance backgrounds. A 5% technical assistance facility supports emerging managers and portfolio companies.

Ci Gaba targets SME-focused funds investing across Agriculture/Agribusiness, Light Manufacturing, Financial Inclusion, Clean Energy, Health, Education, and Technology, sectors with the highest potential for productive employment, inclusive growth, and measurable development impact across West Africa.

Geographic Diversification Ci Gaba will invest across the West African region, focusing on Ghana, Nigeria, Senegal, and Côte d’Ivoire, to avoid exposure to a single country’s economic or political risks. Sector Diversification The fund will invest across various high-impact sectors to insulate it from any single underperforming sector. Focus areas include Agriculture/Agribusiness, Education, Healthcare, Technology, Light Manufacturing, Clean Energy, and Financial Inclusion.

SIA's impact strategy is aligned to six SDGs: SDG 1 (No Poverty), SDG 5 (Gender Equality), SDG 8 (Decent Work & Economic Growth), SDG 9 (Industry, Innovation & Infrastructure), SDG 13 (Climate Action), and SDG 17 (Partnerships for the Goals), with four cross-cutting priority goals: SDG 1, SDG 5, SDG 13, and SDG 17.

ESG is fully integrated into SIA's investment process, from fund manager selection and due diligence to active monitoring and reporting. We assess managers on their ESG policies, impact measurement systems, and governance practices, and provide technical assistance where gaps are identified.

The Ci Gaba Fund aims to: unlock US$200M in local funding; support at least 5 local emerging fund managers; ensure 30% of supported fund managers are majority women-owned or led; support 250 SMEs (40% women-led/owned); create 25,000 direct and indirect jobs; and support 94,000 cumulative lives across West Africa.

Gender lens investing is a core pillar of SIA's strategy. We actively prioritise fund managers with women-led or majority women-owned management teams, and focus on SMEs that are women-led, owned, or significantly serve women as employees or customers. Our target is that at least 30% of supported fund managers have majority women leadership.

Yes. Through our technical assistance facility, SIA supports emerging fund managers and portfolio companies in developing impact strategies, implementing impact measurement frameworks, and producing institutional-grade impact reports aligned to leading standards.

Ci Gaba primarily invests in Private Funds & Fund Managers (both emerging and experienced) who are raising funds to invest in high-growth, high-impact SMEs across West Africa. Fund managers must have a defined investment strategy aligned to the fund's target sectors, a credible team, and a commitment to impact measurement.

Ci Gaba is a fund of funds and does not invest directly in SMEs. However, SMEs can access capital through the portfolio funds Ci Gaba supports. If you are an SME, we recommend reaching out to identify which of our portfolio or pipeline fund managers may be the right fit for your growth stage and sector.

The application process involves completing a detailed online form covering your fund manager profile, investment strategy, track record, team composition, target fund size, impact strategy, and ESG approach. Applications are reviewed by the investment team and shortlisted managers are invited for a deeper due diligence process.

Key evaluation criteria include: relevant investment track record and experience; quality of the investment team and governance; alignment with Ci Gaba's target sectors and geographies; robustness of the impact strategy and measurement approach; ESG policies; and the ability to demonstrate potential for both financial returns and development impact.

Initial screening of applications typically takes 4–6 weeks. Shortlisted fund managers are then engaged in a structured due diligence process that may span several months, depending on the complexity of the fund structure and the depth of information provided.

Beyond investment, SIA provides technical assistance covering impact strategy development, ESG and reporting capability, governance and back-office strengthening, and fundraising support. We are particularly committed to supporting first-time and emerging fund managers in developing institutional-grade processes.

Ci Gaba is designed specifically to address the barriers pension funds face when allocating to alternative assets. It is a local currency (GHS) vehicle, reducing FX risk; structured with a catalytic capital layer that de-risks exposure; and governed to institutional standards. It provides access to diversified Private Capital exposure in West Africa without requiring pension funds to build internal alternative asset teams.

Up to 30% of the Ci Gaba Fund's capital is raised from catalytic investors, including development finance institutions and philanthropic capital, on concessional terms. This capital absorbs first-loss risk and enhances the risk-return profile for commercial investors such as pension funds, which make up the remaining 70%.

Minimum commitment thresholds are discussed directly with institutional investors during the onboarding process, as they are tailored to each investor type and share class. Please contact us to discuss participation terms for your institution.

Investors receive regular financial and impact reporting covering fund performance, portfolio updates, ESG indicators, and progress against impact targets. Reports are aligned to institutional standards and supported by our technical assistance programme for transparency and accountability.

The Ci Gaba (Progress) Fund is a Limited Liability Company, domiciled in Ghana. It is structured with two share classes: Class A for commercial investors and Class B for catalytic investors. The fund is registered and overseen in accordance with Ghana's Securities and Exchange Commission regulations.

The Ci Gaba Fund's five-member Investment Committee comprises independent professionals with deep expertise in private equity, venture capital, impact investing, and development finance across Africa. Committee members are drawn from leading regional and international institutions and act independently in their review and approval of investment decisions.

The Advisory Board of up to seven members provides strategic oversight, governance guidance, and accountability for the fund's mandate. Board members bring diverse expertise in investment management, insurance, pensions, impact investing, and financial services. The board meets regularly to review fund performance, impact outcomes, and strategic direction.

Fund managers interested in partnering with SIA can apply for funding through our online application form or contact us directly to schedule a preliminary conversation. We welcome introductions from fund managers at all stages, from first-time funds to established managers seeking local capital.

Yes. SIA actively works with DFIs and development partners as catalytic capital providers, technical assistance funders, and strategic co-investors. We are open to discussing partnership structures that leverage DFI expertise and capital to mobilise greater local institutional investment.

Yes. Fund structuring is one of SIA's core service lines. We advise fund managers on legal structure, regulatory registration, governance design, fee structures, impact frameworks, and investor relations, helping teams establish credible, institutional-grade vehicles ready for capital raising.

You can reach us via the Contact Us page on our website, by email, or by phone. We are headquartered in Accra, Ghana, and welcome in-person meetings for substantive conversations. For funding applications, please use the Access Ci Gaba Capital link in the site header to open the application form so your submission is properly reviewed by our investment team.