Improving nutrition through blended finance and impact investing in small and medium enterprises in sub-Saharan Africa

Persistent malnutrition and food insecurity in sub-Saharan Africa demand creative experimentation beyond conventional financing and interventions. Impact investing merits consideration. Small and medium enterprises (SMEs) shape diets and health outcomes in Africa and may present an investment opportunity. The Nutritious Food Financing Facility (N3F) aims to harness blended impact investing for improved nutrition. We describe this novel approach to enhancing food environments using as a model the N3F, which provides financial and technical support to SMEs to increase the availability and affordability of more nutritious foods in domestic food environments. We consider both the opportunities and challenges of this approach.