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GroFin - Transforming SGBs in Africa & the Middle East

Posted By Shailen Neewoor, GroFin, Wednesday, June 13, 2018
Updated: Friday, June 15, 2018

Gain a deeper understanding of how GroFin, through its unique investment model in SGBs, is positively transforming small and growing businesses and the local communities they support. The inspiring success stories of its entrepreneurs exemplify the collaborative efforts of GroFin staff, investors, partners and clients. The 2017 GroFin Impact Report, Nomou Impact Report and Aspire Impact Report translates its faith in the power of the collective by asking the question “If not us, who? If not today, when? If not with our finance and support, how will these small businesses grow and succeed?”

2017 GroFin Impact Report

As at end 2017, GroFin has financed 675 small and growing businesses, supported 8,840 entrepreneurs, sustained a total of 86,190 jobs and touched the lives of 430,955 family members in the local communities across our 15 locations of operation in Africa and the Middle East. The report indicates that GroFin has made more investments in its priority sectors of education, healthcare, agribusiness, manufacturing and key services. Furthermore, GroFin invested US$ 60M in nearly 88 new small and growing businesses, with over 50% of the SMEs operating directly in our sectors of focus, sustaining 14,000 total jobs and supporting an additional 72,000 livelihoods. And to reinforce its value proposition of providing 'support beyond finance' the company introduced the GroFin STEP (Success through Effective Partnerships) Programme to support its SMEs and Entrepreneurs.

2017 Nomou Impact Report

The Nomou Programme is a regional initiative in MENA which was co-created by GroFin and Shell Foundation. As a result of the collaborative efforts of its investors, partners and clients, the Nomou programme is contributing to the alleviation of poverty and improvement of livelihoods in the communities where the programme operates, as well as striving to reduce the adverse impact of the humanitarian crisis in the region.

In 2017, the Nomou Programme supported 1,005 entrepreneurs, made investments into 103 SGBs, sustained a total of 10,287 jobs, touched the lives of 51,435 beneficiaries and added economic value of US$ 149 million per annum through its investee SMEs across Egypt, Jordan, Iraq and Oman.

2017 Aspire Impact Report

Since their inception in 2014, the Aspire Small Business Fund (ASBF) and the Aspire Growth Fund (AGF) have sought to promote local entrepreneurship, employment and economic value-add in the Niger Delta. With the Shell Petroleum Development Company of Nigeria Limited (SPDC) as anchor investor, the Aspire Enterprise Development Funds epitomise GroFin, a private development finance institution, and SPDC’s efforts to serve the local community with a combination of investment funds, business skills and market linkages.

In 2017 GroFin increased its commitment to supporting SMEs in the Niger Delta Region by investing in an additional 17 small and growing businesses and extending further funding of US$ 2.5M (140% increase from total amount invested as at end 2016). As at end of 2017, GroFin has supported 365 businesses, invested in 53 SMEs and sustained a total of 1,975 jobs under the Aspire Funds.

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Tags:  2017  A Access to Finance  Access to Finance  Africa  Agriculture  ANDE Africa  ANDE Members  Base of the Pyramid  Business  business training  capacity development  DGGF  East Africa  education  finance  impact  impact investing  impact investing; gender lens investing; gender; w  impact investment  impact measurement  innovation  Investors  Kenya  MENA  missing middle  Philanthropy; impact investing  Private sector development  Rwanda  SDGs  SGB  SGBs  SGBs; accelerators; East Africa  SGBs; Environment; accelerators; energy  SGBs; West Africa; Senegal; Africa; MENA; Entrepre  small and growing agrobusiness  smes  social impact  South Africa  sustainability  sustainable development  Tanzania  Training  Uganda  West Africa 

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Toilet Accelerator India Edition Challenge - open for applications until 10th July!

Posted By Claire Balbo, Toilet Board Coalition, Tuesday, June 20, 2017
 
Do you have a business or business idea for toilet innovations and service models, circular economy waste management and resource recovery, or mobile, digital and e-heath applications for sanitation in India?

Apply for over 100,000 Euro in support from global brand companies by 10 July 2017!

APPLY HERE!
The Toilet Accelerator India Edition challenge calls for applications from businesses that are addressing the most challenging water and sanitation issues in the country. 
Top 3 winners will be announced at the 9th Sankalp Global Summit from 6-8 December, 2017 in Mumbai. The winners will receive over 100,000 Euro of in-kind support from leading companies over a 12 month period, as part of the 2018 Toilet Accelerator cohort of the Swiss based Toilet Board Coalition. The Toilet Accelerator Program provides expert mentorship and support, as well as access to the TBC-Sankalp investor networks. The Toilet Board Coalition is supported by some of the largest multinational corporates like Firmenich, Lixil, Kimberly-Clark and Unilever.  

THE ACCELERATE INDIA SANITATION BUSINESS CHALLENGE IS OPEN UNTIL 10 JULY 2017
The Toilet Board Coalition brings together experts from business, investment, and the global sanitation community through our platform to cross-fertilise experiences, innovate at all levels, and catalyse the growth of profitable sanitation businesses that deliver sanitation to all.  The Toilet Accelerator is a corporate accelerator program to facilitate private sector engagement and mentorship to sanitation businesses and entrepreneurs serving low-income markets. For more information on the Toilet Board Coalition, please visit the website.
Sankalp Forum is one of the largest platforms promoting innovation and entrepreneurship in emerging markets and building the ecosystem for business-led inclusive development. Over the past nine years, Sankalp has showcased over 400 sustainable enterprises across India, Africa and Southeast Asia, enabled 500+ mentoring connections and facilitated over USD 240Mn of equity investments. For more information on Sankalp Forum, please visit the website.
If you have any questions, please do not hesitate to reach out to us by contacting Claire Balbo: balbo@toiletboard.org
#WeCantWait to know about your business!!

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Tags:  entrepreneurship  India  sanitation  Sankalp  SDGs  SGBs  SMEs  social entrepreneurship  sustainability 

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AXiiS is closing the gap with 6 billion (USD) in assets under management ready for SMEs to access finance Today!

Posted By FAST International, Finance Alliance for Sustainable Trade, Wednesday, April 12, 2017
Updated: Thursday, April 13, 2017
https://youtu.be/I4QvUzUwkxQ

About AXiiS:

Unique in its industry, Access and eXchange impact investment for Sustainability (AXiiS), is populated with local Financial Advisors based on their grounded work in the field with agriculture and forestry SMEs in Africa, Latin America and the Caribbean, ensuring sustainable investment ready cases.

Selected SMEs are profiled based on criteria ensuring their investment-readiness, while collecting relevant data on investment in agriculture and forestry sectors. It showcases blind profiles of SMEs and Financial Service Providers to ensure security and to enhance the matchmaking process.

To join or find out more, visit: www.axiis.ca

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Tags:  A Access to Finance  apps4africa  asset finance  banking  capacity development  climate resilience  emerging markets  Environment  environmental impact  finance  Global. Development  India; ANDE members  Investors  Latin America  news  nicaragua  Performance Measurement  Rwanda  Scale  SDGs  SGBs; accelerators; East Africa  SGBs; Environment; accelerators; energy  smaholder farmers  small and growing agrobusiness  smallholder farmers  smes  social impact  supply chain  sustainability  sustainable development  Tanzania  Uganda 

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Assessing the Impact of Social Enterprises Using the U.N. Sustainable Development Goals and IRIS

Posted By Patricia Haines, Miller Center for Social Entrepreneurship at Santa Clara University, Wednesday, September 21, 2016

By Joe Schuchter, Associate Director of Social Impact Assessment, Miller Center for Social Entrepreneurship

Social entrepreneurship is increasingly recognized as a means of addressing the world’s most pressing social and environmental problems. However, assessing the impact of social enterprises continues to be challenging. Part of the challenge is to find a shared language of impact in the myriad approaches used by social entrepreneurs, impact investors, and development agencies to code, classify, and interpret impact.

Two of the more prominent approaches are the United Nation’s Sustainable Development Goals (SDGs) and the Global Impact Investing Network’s (GIIN) IRIS. At first glance, the SDGs and IRIS appear to use different “languages” for different audiences. To better support social entrepreneurs, Miller Center for Social Entrepreneurship decided to explore the alignment of these two approaches, and its ability to support impact assessment more broadly.

What Are the SDGs and IRIS?

Adopted by the UN in September 2015, the SDGs were introduced as an iteration of the Millennium Development Goals, which were established in 2000.[i] The SDGs include 17 goals formulated into 169 targets, and additional indicators for those targets.[ii] Collectively, the SDGs are focused on ending poverty, protecting the planet, and ensuring prosperity and well-being for all. The users of the SDGs extend beyond the United Nations to include governments, the private sector, and civil society in all parts of the world. The SDGs are measured routinely at the country level to show progress toward specific goals, often aimed at the year 2030.

IRIS is a catalog of 559 impact investment metrics, grouped into 12 sectors (e.g., agriculture, education, energy). The stated purpose of IRIS is to measure the social, environmental, and financial performance of investments. With leadership from the Rockefeller Foundation, it was introduced in 2008.[iii] Now in its fourth iteration, IRIS has become the preferred taxonomy for impact investors to measure the impact of their financial investments.

Which language do social entrepreneurs speak?

At Miller Center, we observed that the social entrepreneurs we target were using various means of classifying and assessing their impact. Because these entrepreneurs fall into roughly equal thirds of for-profit, non-profit, and hybrid incorporation types, they would seem to represent a broad range of perspectives and languages within the overall development ecosystem. However, we also know that entrepreneurs that have participated in our Global Social Benefit Institute (GSBI®) programs are intensely mission-focused, therefore we suspected SDGs might be more popular among them.

To address this question, we analyzed the data from our GSBI programs for accelerating social enterprises. We found that 71% of GSBI applicants reported using SDGs, and only 10% were not familiar with them. On the other hand, we found that only 14% of the applicants reported using IRIS metrics, and 40% were not even familiar with them. In other words, the SDGs seemed to resonate more with these entrepreneurs, while IRIS – the primary metrics used by impact investment – were not being widely applied.

How do we “translate” these languages?

Based on these findings and to help bridge this disconnect between SDG and IRIS languages, we “cross-walked” SDG targets and IRIS metrics to identify gaps and overlap.

In our first pass at the crosswalk, we found that 25% of the SDG targets have related IRIS metrics, while 30% of IRIS metrics map to SDG targets. This included very high alignment in content areas like education, but very low alignment in broader areas like eliminating poverty. We conducted this process focused only on close matches of SDG targets and IRIS metrics.   

Through this process, we identified opportunities for a combined IRIS-SDG framework. IRIS focuses on more discrete, near-term results, while SDGs aim at bigger, broader, and long-term changes. Although only roughly one-quarter of the metrics and targets matched directly, we saw the potential for much greater alignment were we to apply a theory of change logic. For example, IRIS metrics around education match directly with the SDG targets for education, but also contribute to and therefore align to the longer-term SDG of poverty elimination.

What next?

Together, SDGs and IRIS offer a powerful framework and catalog for impact. With its broad goals and specific targets, the SDGs help align social enterprise to other development actors. But IRIS is what helps align social entrepreneurs with investors. Therefore, Miller Center believes that social entrepreneurs should learn the basics of the investor language, IRIS, while continuing to use the SDGs to articulate their systems-changing goals and ambitions. At the same time, investors could benefit from a better understanding of SDGs. As an example, Sonen Capital has already aligned its portfolio with the SDGs.[iv]

Miller Center is working with partners at GIIN and the Aspen Network of Development Entrepreneurs (ANDE) to refine and enhance the crosswalk.[v] We are also working to integrate this into our own application and assessment system. Using this shared-language taxonomy as a teaching tool can help social entrepreneurs navigate the growing glut of options for classification and measurement, ideally arriving at indicators optimally suited for their own operations as well as their investors and stakeholders. Ultimately, the SDG/IRIS crosswalk should enable social entrepreneurs to better leverage the resources they need to achieve the disruptive systems changes that they seek.

Note: The first pass at "crosswalking" these two prominent sets of indicators was conducted by Miller Center for Social Entrepreneurship in the spring of 2016, and presented at the Aspen Network of Development Entrepreneurs conference in June 2016 by the author.


[i] John W. McArthur. The Origins of the Millennium Development Goals. SAIS Review vol. XXXIV no. 2 (Summer–Fall 2014)

[ii] http://unstats.un.org/sdgs/indicators/database/

[iii] https://iris.thegiin.org/about/history

[iv] http://www.sonencapital.com/news-posts/leading-impact-investment-strategies-demonstrate-alignment-with-the-un-sustainable-development-goals/

[v] https://iris.thegiin.org/metrics/sets

 

 

 

 

Tags:  GSBI  impact assessment  IRIS  Miller Center for Social Entrepreneurship  SDGs 

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