
Mapping a bold new future in innovative finance, philanthropy
MKU Foundation was one of key participants of a roundtable forum on innovative finance and philanthropy held in Nairobi on Monday April 22, 2024.
The forum entitled “Trends in Innovative Finance: The Role of Philanthropy” was organized by the East African Philanthropy Network (EAPN). It served as a precursor to the Grantmakers’ Summit which will be held later in the year in Nairobi, and was facilitated by UK non profit consultancy Social Finance.
“Innovative finance has emerged as a critical area, demanding philanthropic entities to continually seek inventive and strategic methods to fund responses to societal challenges,” said EAPN Chief Executive Evans Okinyi. “This approach not only unlocks additional resources but also enhances the impact of expenditures.”
The forum covered Introduction to Social Finance, Introduction to Innovative Finance, Philanthropy and Innovative Finance, and Global Case Studies.
“We believe the development sector needs to change if it is to achieve sustained, verifiable impact,” said Rob Mills, one of the facilitators from the UK. “We push for cost-effective delivery of the SDGs by structuring finance in ways that incentivise and enable greater outcomes.”

MKU Foundation is one of those organizations committed to ensuring the attainment of the UN Sustainable Development Goals, and in particular Number 4 on “inclusive and equitable quality education and… lifelong learning opportunities for all.”
The forum heard that Africa philanthropy receives US$52 billion in diaspora funding per year. “But the wider landscape for funding is changing,” said Chloe Eddleston, a co-facilitator from UK’s Social Finance. “Institutional donors are changing their thematic priorities, the kinds of organisations they fund, and where they fund while philanthropic and corporate partners are looking for new styles of collaboration, moving away from traditional grants.”
“Innovative finance means finding new and creative ways to fund responses to social problems by mobilising additional resources and achieving greater impact from spending,” added the facilitators.
The forum participants were taken through practical examples of where innovative finance is working.