Measuring the women’s economic empowerment generated by impact investing; testing the QuIP method on an investment in Uganda’s cotton sector

ABSTRACT Impact investors and development finance institutions are starting to proactively examine gendered impacts to ensure their investments progress the opportunities available to women instead of reproducing existing inequalities. In October 2020, we trialled the use of the Qualitative Impact Protocol (QuIP) method to measure empowerment changes created by an investment into a cotton company in Uganda. The QuIP method is a qualitative approach to impact evaluation which assesses whether an investment, is achieving its intended impact. We found that the method worked with the impact investing operating model, required minimal input from the investee company, reduced response bias, and addressed contribution without the need for a baseline. The trial generated lessons on investee selection, geographical scope and blindfolding which can improve the use of this method for impact investing. This trial has confirmed the value of a method that other investors can now consider when measuring the gendered impact of their work.