Roberta Annan is a global impact investor of high renown with a peerless reputation for developing investment opportunities for African entrepreneurs in the creative industries. Her mother, a prominent Ghanaian civil servant and former Executive Secretary of the Ghana National Commission on Children, left a lasting impression on the value of hard work and a shining example of overcoming the barriers facing women.
Roberta obtained a bachelor’s degree in biochemistry and biotechnology from Carleton University in Ottawa, Canada and a master’s degree in biotechnology from Georgetown University in Washington DC, USA. She has also studied at the Harvard Business School in its Program for Leadership Development.
Upon graduation, Roberta began an internship at the UN in Armenia, and was later employed by UN Environment Programme, for which she is a goodwill ambassador today. Through this experience at the UN, sustainability is a strong component of all her business investments. Her experience as a research analyst at the UN, where she worked with multinationals such as Athgo International and MAP International mobilizing funds and resources for projects worldwide also provided her with the skills she uses as an impact investor, philanthropist and activist for women and young people today.
In 2011, Roberta founded Africa Fashion Foundation (AFF) to support the continent’s growing fashion industry, and to provide a platform to showcase Africa’s diverse cultures to the wider world. The following year, she founded Roberta Annan Consulting which was rebranded to Annan Capital Partners in 2016. She has a deep-rooted passion for bridging the gap between investors and impact investment opportunities across Africa. Her model is quite unusual in the world of high finance wherein Roberta identifies an investment opportunity and at first backs the entrepreneur with her own money before bringing in other investors. In 2017, she was appointed as Senior Market Liaison for Fieldstone Africa, and leads the business and marketing strategy of the investment bank and financial services provider in energy and infrastructure. Her most recent venture was the launch of the Impact Fund for African Creatives (IFFAC) in 2021, which aims to provide grants to small and medium-sized African creative and fashion enterprises. Later this year, Roberta will publish a book, Ghana Orange Economy, showcasing the creative talents of the country in words and pictures.
She has served and continues to serve on the board of several organisations including the Frallain Group, Industrie Africa, Women’s Empowerment and Investment Group, Ghana-France Business Club, The Rose of Sharon Foundation, and The European Commission Devco Steering Committee for the International Colloquium for the Creative Economy.
Roberta has been recognised as among the 100 most influential Africans by New African Magazine; and one of the 20 under 40 influential business leaders in Ghana by Business World Ghana. She is the youngest inductee into the African Leadership Hall of Fame, and a member of the Trade and Investment Taskforce Committee for the B20, British Fashion Trust and Invest Africa Club. She has been invited to sit on the inaugural Advisory Council of Condé Nast College of Fashion & Design in London.
In this woman of the month interview, Roberta Annan covers the current state and far-reaching opportunities of impact investing, especially in Africa’s creative industries.
You have an impressive profile, including as a renowned impact investor. What do you seek to achieve with these investments?
Investors seek a return on their investment – or else why invest? The difference with impact investment is that the return is not always financial and either personal or corporate. My aim is to provide the opportunities for our continent’s young entrepreneurs to achieve their potential in the creative industries on the world stage. We have so much talent and drive in our youthful Africa, but so much of it goes to waste for the lack of a helping hand. Too often our creative talents have been taken advantage of by the big money corporations of Europe and beyond, and too many of our best minds have been convinced that they cannot go it alone. By providing not only financial but practical support in terms of training and development for themselves and their businesses, we give them the belief that they can build strong, competitive brands.
What has been the impact so far?
The AFF and IFFAC have helped many people and many companies around the continent to grow and thrive. But what really matters is the impact those businesses can have themselves. The reason successful businesses matter is not just the benefit to their founders, their investors or even their employees, even though all these things are of course very important. The biggest impact is in terms of building thriving communities, and communities can only thrive if their women are empowered. Improving the lives of women and the young are the route to real African development.
How viable is doing business in Africa?
If you’re asking is doing business in Africa the same as doing business in Europe or the US then the answer is obviously no. But why should it be the same? We do things our own way here. It can be difficult but the opportunities are immense and the potential limitless.
What are the top three things African entrepreneurs should possess in order to thrive?
- A great idea
- Hard work
- A willingness to learn
You have a particular interest in the creative sector. What do you consider are the major challenges and opportunities for creatives in Africa?
The challenges for creative industries begin with being heard above the crowd, especially those from Africa because of the strength of foreign competition – something IFFAC and AFF are expert in helping to achieve. However, we have some tremendous advantages too. If you look at the fashion industry for example; the big fashion houses of the Old World change slowly and find it hard to adapt. The challenge of sustainability is in direct opposition to their central business model of fast fashion – producing enormous volumes which inevitably create massive wastage and an enormous carbon footprint in terms of raw materials and finished products being shipped all over the world. Modern consumers are rejecting this approach and demanding higher and higher ethical standards from the businesses they patronise. African designers are naturally drawn to make use of the raw materials around them as their communities have done for centuries. Because they are smaller, they can be more agile and adapt to customers’ demands for sustainability.
You are lauded as one of the most influential women in business in Africa. What career steps can women take to be recognized for what they do?
You’re asking the wrong question. The real question is, how can Africa expect to grow and develop if it doesn’t take advantage of all the resources at its disposal? If half the population is disadvantaged because of their sex it is like the whole continent has one hand tied behind its back. Recognising the creativity and drive of women is simply essential to competitiveness.
Is there such a thing as work-life balance? How do you maintain your health and wellbeing?
With some difficulty as any busy person knows. Being with family, spending time with them is really important. It is they who keep me going. We all neglect our families at our peril.
How do you describe success?
Success looks different for different people; we all have our goals and dreams. For me it is about providing for my family and making sure they have a good life filled with opportunities to achieve their own dreams. Success also means giving a platform to creative people who might otherwise not have had the chance to show the world what they can do.
What do you take pride in?
My family, the success of those I have supported, my country and my continent.