Stakeholders in the finance sector of the nation’s economy have tasked social enterprises to be profit-oriented irrespective of the fact that they are Non-Governmental Organisations (NGOs).
They said the sustainability of such enterprises lies in the ability to be profitable and diversify investments that would yield the necessary income for the day-to-day running of an NGO.
To this end, and in a transformative stride towards financial sustainability within the social impact sector, the highly anticipated book, ‘The Profit of Purpose: Mastering Financial Accounting and Reporting for Social Entrepreneurs,’ was officially launched at the weekend .
This publication aims to equip change makers with the crucial financial acumen necessary to thrive, even as the launch event, brought together an impressive assembly of thought leaders, finance experts, and social entrepreneurs, sparking an engaging dialogue on the future of financial management in mission-driven organisations.
Delivering the keynote speech, executive director of FATE Foundation, Adenike Adeyemi, emphasised the critical role of sound financial management in ensuring the long-term success of mission-driven organisations. Non-profit sustainability is paramount, she stated, highlighting the importance of financial literacy in achieving lasting impact.
The official unveiling and launch of the book was led by CEO of AW Network, Adebola Williams, and CEO Ingress Health Partners, Dr Orode Doherty, who commended the authors for providing practical insights tailored to the unique financial challenges faced by social enterprises.
Reflecting on the book’s purpose, the Author, stated that, “Financial literacy is the backbone of any sustainable impact. For too long, social entrepreneurs have struggled with the complexity of financial management, often at the cost of their mission. This book is my contribution to demystifying those challenges, providing a practical roadmap that enables change makers to focus on what truly matters—driving meaningful and lasting change.”
Addressing some of the most pressing concerns for non-profits and mission-driven enterprises, The Profit of Purpose – Mastering Financial Accounting and Reporting for Social Entrepreneurs, equips social entrepreneurs with financial literacy skills to sustain and scale their impact. The book’s seven chapters provide actionable strategies for fundraising, financial management, budgeting, tax compliance, and accountability. It also includes cheat sheets, FAQs, and exercises designed to reinforce learning.
The launch event featured a high-level panel discussion on Impact Investing: Beyond Donations – Sustainable Revenue Strategies for Nonprofits, where experts explored innovative funding models that go beyond traditional grants and philanthropy.
The Profit of Purpose arrives at a crucial time when social enterprises face mounting financial complexities. By bridging the knowledge gap in financial accounting and reporting, the book empowers change makers with the confidence to navigate funding, compliance, and sustainability challenges.
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