Print Page   |   Sign In   |   Register
Notes from the Network
Blog Home All Blogs

We are pleased to release the 2018 GroFin Impact Report

Posted By Shailen Neewoor, GroFin, Friday, August 16, 2019

"Famous rock musician and philanthropist Bono once remarked that impact investing is an excuse for good people doing bad deals. We would argue that GroFin is about good people doing real deals. GroFin has invested nearly $340 million in 708 small and growing businesses (SGBs) and in doing so helped them to sustain over 28,000 jobs. These deals might not hit the headlines or generate “alpha returns”, but they do deliver real impact alongside positive financial returns,” Guido Boysen, GroFin CEO.

This year we have changed the format of our annual Impact Report by adopting the Integrated Reporting guidelines. This brings GroFin in-line with global best-practice to report on how we create value by leveraging the various forms of capital at our disposal. This framework enables us to look at the business in an integrated way.

The report provides as an overview of the following:

  • GroFin’s business model and strategy
  • Our biggest accomplishments during the past year
  • The financial performance and impact generated by each of our six active Funds
  • The successes of our clients and how they are changing lives in the communities where they operate.

We are forever grateful to our clients, investors, funders, partners, and staff without whom our success and impact would not have been possible.

Visit the report website

Download the report

 Attached Files:

Tags:  A Access to Finance  Access to Finance  Africa  Agribusiness  Agriculture  ANDE Members  ANTHOS  Base of the Pyramid  Business  Business Models  Calvert Impact Capital  capacity development  CDC  DFID  DGGF  East Africa  education  energy  entrepreneurship  finance  FINFUND  FMO  gender  Global. Development  IFC  impact  impact assessment  impact evaluation  impact investing  impact investing; gender lens investing; gender; w  impact investment  impact management  impact measurement  International Finance Corporation  Investors  Mastercard Foundation  MENA  missing middle  Open Society Foundations - Soros Economic Developm  Philanthropy; impact investing  Scale  SDGs  SGB  SGBs  SGBs; accelerators; East Africa  SGBs; small and growing businesses impact investin  SGBs; West Africa; Senegal; Africa; MENA; Entrepre  Shell Foundation  Skoll  small and growing agrobusiness  small and growing businesses impact investing  smes  social impact  Soros Economic Development Fund  South Africa  supply chain  sustainability  sustainable development  Tanzania  Triple Jump  Uganda  USAID  West Africa  Women  World Bank Group  Youth 

PermalinkComments (0)
 

Clinton Giustra Enterprise Partnership, Marriott International, Avendra, and Walmart Launched a Local Sourcing Assessment in Puerto Rico

Posted By Gabriela Millard, Clinton Giustra Enterprise Partnership, Thursday, June 20, 2019

At a meeting of the Clinton Global Initiative (CGI) Action Network on Post-Disaster Recovery hosted by President Bill Clinton and Secretary Hillary Clinton, the Clinton Giustra Enterprise Partnership (CGEP) announced a commitment to launch an assessment in Puerto Rico that would evaluate feasibility to increase sourcing from local farmers, connecting new customers and improving incomes for farmers in the region. Marriott International, Avendra, and Walmart have already committed as partners for this project, supporting the assessment and committing to source products meeting quality and price standards once the pilot has begun.

The commitment aims to provide a boost to Puerto Rico’s agricultural sector after Hurricane Maria hit the island in 2017. In recent years, the agricultural sector has been growing at a 3 to 5 percent rate annually – however Hurricane Maria impacted approximately 80 percent of the island’s crop value and caused estimated losses to crop, livestock production and infrastructure of more than $2 billion. Before Hurricane Maria, 85 percent of Puerto Rico’s food was imported – since Maria that figure has jumped to 95 percent.

This assessment will chart agricultural capacity across the island, identifying both potential crops that could be sourced, tropical fruits like watermelon and pineapple, and companies that can serve as buyers for these products. Following research and feasibility analysis, CGEP will work to establish a social business that will purchase these crops and source them to buyers – creating new demand and higher income for smallholder farmers on the island.

CGEP, an initiative of the Clinton Foundation, brings twelve years of building social businesses, including supply chain building in the agricultural sector. “Our social businesses have had significant positive impacts on the lives of farmers in El Salvador, Colombia, and Haiti,” said Frank Giustra, co-founder of CGEP. “I am excited to see our successful model being assessed for other regions, like Puerto Rico, where I hope we can help bridge the gap between farmers and buyers.”

Steve Contos, Senior Vice President, Caribbean and Luxury Portfolio Caribbean and Latin America for Marriott International added: “We’re proud to support Puerto Rico’s farmers and these efforts, and our partnership with CGEP reinforces our longstanding commitment to the island and to empowering the local community. Marriott’s sustainability and social impact platform, Serve 360, also aligns with this project and our global goal to locally source 50 percent of our produce, in aggregate, by 2025. It’s a win-win.”

“We are excited to be a part of this CGEP effort and see it as a foundational building block toward a better supply chain in this region, “said Patrick Poncet, Vice President, Caribbean, Mexico and Central America, Avendra. “As a leading procurement and supply chain services company, this initiative provides us an opportunity to lend our expertise and collaborate with key stakeholders across the value chain to deliver a locally-focused, effective solution.”

Walmart brings both support and years of experience working with a network of local farmers to the partnership. “We are very pleased to be part of CGEP's efforts because our commitment of more than 25 years to Puerto Rico and the well-being of its communities is directly related (aligned) to the organization’s objectives. Currently, Walmart Puerto Rico is working very hard to increase the annual million-dollar investment in products harvested on the Island to contribute to the development of the agricultural industry and, therefore, promote job creation and greater local economic activity," said Iván Báez, Director Public Affairs & Government Relations.

The assessment and potential agribusiness will build on CGEP’s expertise in building social businesses that help smallholder farmers and fishers around the world, including in Haiti, El Salvador, and Colombia. In El Salvador for example, purchasing by partner buyers from local farmers has increased by over $7 million since launch of CGEP social business in 2014. CGEP builds social businesses to generate social impact and financial returns by addressing market gaps in developing countries’ supply chains. Through this model, CGEP seeks to help people work themselves out of poverty.

The commitment was announced Wednesday, January 30 at the CGI Action Network on Post-Disaster Recovery, which brings together leaders from government, business, and civil society to make commitments to help communities impacted by the 2017 hurricane season. At the meeting, participants discussed the current recovery efforts in the region, progress to date, ongoing challenges, and made Commitments to Action – specific and measurable projects that address critical issues such as food security, access to healthcare, small business support, sustainable tourism, and renewable energy.

# # #

About the Clinton Giustra Enterprise Partnership

The Clinton Giustra Enterprise Partnership (CGEP) is a social business builder that brings entrepreneurial solutions to global poverty – building from scratch, investing start-up capital, and managing agribusinesses that work with smallholder farmers and fishers. CGEP’s agribusinesses provide sustainably-sourced, high quality local products that meet buyers’ demand at competitive prices and help improve the livelihoods of farmers and farming communities by improving agricultural productivity, creating job opportunities, and facilitating long-term linkages to high value markets.

About Marriott International

Marriott International, Inc. (NASDAQ: MAR) is based in Bethesda, Maryland, USA, and encompasses a portfolio of more than 6,900 properties in 30 leading hotel brands spanning 130 countries and territories. Marriott operates and franchises hotels and licenses vacation ownership resorts all around the world. The company also operates award-winning loyalty programs: Marriott Rewards®, which includes The Ritz-Carlton Rewards®, and Starwood Preferred Guest®. For more information, please visit our website atwww.marriott.com(link is external), and for the latest company news, visitwww.marriottnewscenter.com(link is external). In addition, connect with us on Facebook and @MarriottIntl on Twitter and Instagram.

About Sustainability and Social Impact at Marriott International 

Marriott International embraces its global responsibility and unique opportunity to be a force for good. Guided by its sustainability and social impact platform, Serve 360: Doing Good in Every Direction, Marriott is committed to making a positive and sustainable impact wherever it does business. While integrating sustainability across its value chain and mitigating climate-related risk, the company is working to reduce environmental impacts, build and operate sustainable hotels, source responsibly, advance human rights, and create opportunities for the communities where we operate. To learn more about our efforts and our 2025 Sustainability and Social Impact Goals, visitmarriott.com/serve360(link is external)and follow @MarriottPOV onTwitter(link is external).

About Avendra

Avendra is North America’s leading hospitality procurement services provider. Our supply chain management solutions are tailored to our clients’ business strategies and deliver benefits beyond great savings. We combine years of procurement expertise, purchasing power, services and software to help customers impact the bottom line, improve operational performance, and better serve guests. Avendra is headquartered in Rockville, Maryland and has regional offices throughout North America.

About Walmart

Wal-Mart Stores, Inc. (NYSE: WMT) helps people around the world save money and live better - anytime and anywhere - in retail stores, online, and through their mobile devices. Each week, nearly 260 million customers and members visit our 11,535 stores under 72 banners in 28 countries and e-commerce websites in 11 countries. With fiscal year 2016 revenue of $482.1 billion, Walmart employs more than 2 million associates worldwide. Walmart continues to be a leader in sustainability, corporate philanthropy and employment opportunity. Additional information about Walmart can be found by visitinghttp://corporate.walmart.com(link is external)on Facebook athttp://facebook.com/walmart(link is external)and on Twitter athttp://twitter.com/walmart(link is external). Online merchandise sales are available athttp://www.walmart.com(link is external)andhttp://www.samsclub.com(link is external).

------------------

We are looking for additional ecosystem partners across the value chain to join or fund our work in Puerto Rico. We are currently raising $250,000 that will directly fund farmer capacity building and pilot activities involved with setting up the agribusiness.

 


 Attached Thumbnails:

Tags:  Agriculture  Latin America  small and growing agrobusiness  Social Entreprenuership  supply chain 

PermalinkComments (0)
 

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

Download File (PDF)

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 

PermalinkComments (0)
 

ASSAM-BASED TAMUL PLATES RECEIVES FOLLOW-ON INVESTMENT FROM ARTHA INITIATIVE & UPAYA SOCIAL VENTURES

Posted By Upaya Social Ventures, Tuesday, February 17, 2015

Tamul Plates Marketing Pvt. Ltd. is announcing today that the company has come to an agreement with Artha Initiative and Upaya Social Ventures (both ANDE members) on an investment that will allow Northeast India’s leading producer of palm leaf tableware to significantly expand its operations across the region.

 
The deal is notable as Tamul Plates is the only established producer of disposable tableware in the Northeast - a region with more than 100,000 hectares of arecanut under plantation and one of the poorest areas of the country. 
 
“This investment is a recognition that Tamul Plates is well positioned to meet the growing demand for high quality, environmentally responsible, and ethically produced products,” said Tamul Plates CEO Arindam Dasgupta. “Working in the Northeast, the company benefits from a unique combination of access to the highest quality raw materials and a producer base that takes great pride in its craftsmanship,” said Dasgupta.
 
Tamul Plates produces and markets high-quality, all-natural disposable plates and bowls made from arecanut (palm) tree leaves and sells them under the “Tambul Leaf Plates” brand. The company’s clientele includes a mix of restaurants, fast food establishments, event managers, and direct-to-consumer retailers.
 
This investment follows a recent agreement between Tamul Plates and the Government of Assam to supply the equipment for and train an extended network of affiliate rural producers. The investment by Artha and Upaya will allow the Barpeta-based company to make use of that expanded affiliate producer network by diversifying its product line, expanding its domestic sales and distribution networks, and opening export markets for its products.
 
“It has been a highlight of the Artha Venture Challenge to uncover a pioneering and innovative enterprise in Tamul Plates,” said Artha Initiative’s Director Audrey Selian.  “We are particularly happy to be co-investing with Upaya, and look forward to continued efforts in collaboration sector-wide through our AVC and ArthaPlatform.com programming,” said Selian. Artha Initiative is associated with Switzerland-based Rianta Capital Zurich.
 
Disposable arecanut dinnerware is hygienic, chemical-free, compostable, microwave safe - and in high demand among urban consumers around the world. The production and sale of natural arecanut dinnerware not only reduces the deforestation and pollution associated with the production of traditional disposable dishes, but also provides a viable livelihood to disadvantaged communities.
 
“Upaya has been very impressed by the work of Arindam and his team over the past year, and believe that the company’s growth plans will benefit both customers and producers alike,” said Upaya’s Director, Business Development Sreejith Nedumpully. “We are proud to join the Artha Initiative in backing this promising enterprise, and are exciting about the company’s potential,” said Nedumpully. Upaya was Tamul Plates’s first investor.
 
This co-investment in Tamul Plates is the first deal completed under the formalized collaboration framework between Artha and Upaya that was announced in November 2014. Per that agreement, the two organizations are working together to deploy seed capital to help SGBs scale and create employment for the poor, share best practices around sound financial management, and disseminate tools and training for the benefit of India's wider ecosystem.

 

 Attached Files:

Tags:  early stage ecosystem  Entrepreneurship  entrepreneurship ecosystems  impact investing  India  India; ANDE members  Philanthropy  SGBs; Environment; accelerators; energy  supply chain 

PermalinkComments (0)
 

Private Sector Transport Solutions for Public Sector Benefit

Posted By John Beale, VillageReach, Tuesday, July 15, 2014
We recently completed a study of Mozambique's transportation sector and the ministry of health's transport needs, with a view to helping the ministry engage the private sector and outsource its transport requirements.  The report notes the significance of SMEs (SGBs) as an important market development catalyst for the transport sector in Africa.  In the fall, I'll be back in Mozambique to work with the MoH in two provinces to execute an outsourcing program with commercial transportation companies.

I'd be interested to know if other ANDE members are engaged in transport-related work.

John Beale
Director, Strategic Development &
Group Lead, Social Business
VillageReach
+1-206-755-0145 

Download File (PDF)

Tags:  Africa  ANDE Africa  ANDE Members  Business Models  Entrepreneurship  entrepreneurship ecosystems  Private sector development  Research  social business  Social Entrepreneurship  supply chain  sustainability 

PermalinkComments (0)
 

Guardian Newspaper Interview with Peter Damian Mbama

Posted By Oluwatosin Kukoyi, RegCharles Finance and Capital Ltd, Friday, April 19, 2013
Hello all, 
Please find below the link to an interview conducted by Guardian Newspaper with Peter Damian Mbama (MD/CEO, RegCharles Finance and Capital Ltd) on the Control of Inflation and Determination of MPR.
 
http://www.ngrguardiannews.com/index.php?option=com_content&view=article&id=119205:determination-of-mpr-inflation-control-need-new-strategies-says-mbama&catid=31:business&Itemid=562
 
Happy Reading!

Tags:  accelerators  Access to Finance  Africa  Agriculture  ANDE Members  early stage ecosystem  East Africa  Entrepreneurship  Environment  Financial Times  Grants Rockefeller  impact investing  inclusive business  Incubation  Philanthropy  Philanthropy; impact investing  SGBs; Environment; accelerators; energy  Social entrepreneurship  supply chain  sustainability  Women  Youth 

PermalinkComments (0)
 

Reaching The Final 20: Investing in infrastructure to improve health care delivery

Posted By John Beale, VillageReach, Wednesday, April 3, 2013

(This NextBillion blog can be found here).

One of the harsh realities of the current state of global health is that the quality and supply of life-saving innovations exceeds the capacity of many health systems to deliver them.  Exciting new innovations are being developed.  But for many low-income countries, gaps in the underlying infrastructure to support their delivery – especially for rural areas – limit the potential of these innovations to improve health care.   

In our experience at VillageReach, looking at the problem from the point where health care is delivered to patients ensures that capacity development focuses on the weakest link – the last mile – but also where underlying infrastructure is most limited.  We’ve determined that private enterprise has a significant role to play in developing the infrastructure necessary to achieve sustainable improvements in health care.

Vaccine development – arguably global health’s greatest innovation – is a case in point. With billions invested, the aggressive introduction of vaccines has saved millions of lives.  But subsequent gains have been more elusive: many low-income countries have seen immunization rates essentially stuck at 80 percent.  GAVI Alliance CEO Seth Berkley estimates that today as many as 22 million children are unable to access vaccines.  More than two million die from vaccine-preventable diseases every year. 

Efforts to reach the remaining 20 percent – the Final 20 – have been insufficient, largely because much of this neglected population is rural and remote. For many of these communities, long travel distances, minimal transportation services and high poverty rates prevent mothers from making their kids available for immunization and other basic health care measures, raising the cost of health services.  Families with sick children find it more difficult to exit poverty, and their communities have fewer opportunities to advance.

Investing in Community Infrastructure

With so much investment and innovation in vaccine development, we should be looking to where leverage can be applied to fulfill that promised value.  Much of VillageReach's work has focused on improving vaccine delivery, by increasing frontline health worker productivity and capacity, and making information technology more useful and practical in the field in order to improve data reporting and performance measurement.  Our model also leverages private enterprise to develop common infrastructure that both health systems and the communities require.

In creating opportunities for investment in infrastructure, we look at gaps in key community services – transport, communications and energy supply, for example –that limit health care delivery.  The intent is to address the health access and capacity problem by creating enterprises that also serve commercial customers in order to achieve financial sustainability.

This focus on infrastructure isn’t only to provide single solutions for common problems. The economic multiplier is higher for investments in infrastructure than in other sectors since the construction of roads, bridges, and communications and energy supply networks employ workers and enable commerce.  World Bank President Jim Yong Kim acknowledged the importance of this link recently, noting that investment in Africa’s infrastructure increased from 16 percent to 22 percent of GDP over the past decade.  Africa’s five percent annual GDP growth during the period is greater than for any other region worldwide.

Supplying Energy for Mozambique’s Health System – VidaGas

Mozambique and its health system have faced many of the same challenges of other countries in sub-Saharan Africa.  Much of the population lives in remote communities that are difficult to reach.  Less than 35 percent of the country has access to the electrical grid – access is much lower for rural communities.  Health services are also impacted:  the supply of vaccines to rural health centers is irregular due to the great travel distances involved, and limited refrigeration results in wasted vaccine stock.  This lack of reliable energy also impacts health center performance well beyond vaccine delivery, making it difficult to sterilize medical equipment and provide the necessary lighting for procedures conducted after dark.

We set a goal of improving the capacity and reducing the cost of health care delivery in Mozambique.  It was clear that a solution was required that would address the critical gap in energy supply affecting the performance and economics of the cold chain for the health system.  It was also clear that the solution must be sustainable by attracting broader demand for the service.   

In 2002, we established an energy services company, VidaGas, in partnership with Fundação para o Desenvolvimento da Comunidade (Foundation for Community Development).  When VidaGas was created, the initial network of rural health centers comprised 100 percent of gas shipments.  Today, that percentage is 17 percent. The majority of VidaGas’ service is now directed at enterprise customers - restaurants, hotels, small factories and a growing retail network that enables households to replace traditional wood and charcoal that produce harmful indoor pollutants.  The message is that without revenues from the private sector, the company wouldn’t have the resources to support its obligations to the health system.

The company’s growth – in excess of 35 percent annually since 2010 – has accelerated with additional capital investment from Bamboo Finance/Oasis Fund.  Today, VidaGas is expanding its operations into new geographies and market segments.  The company is now the largest independent energy services provider in northern Mozambique, with three large-tonnage storage and filling facilities across the region serving five provinces and more than 50 percent of the country’s rural health centers.

We anticipate similar growth in the future, as the business expands its base of enterprise customers, builds a larger retail network to reach more households, and expands operations into new provinces in order to supply more rural health centers.

Tags:  Africa  ANDE Members  impact investing  supply chain 

PermalinkComments (0)
 

Musings on inclusive business, CSR, and sustainability...

Posted By Joanna Herrmann, Aspen Network of Development Entrepreneurs, Monday, March 11, 2013

As I did my routine scan of articles on sustainability and corporate value chains, a few articles recently caught my eye.

I'm personally a big proponent of making the distinction between corporate social responsibility activities - which typically involve philanthropy and are not necessarily correlated with the core business of the company - and inclusive business practices, or the concept of shared value that Michael Porter and Mark Kramer coined in recent years.  In this article on the Business Fights Poverty blog, author Caroline Ashley begins a thoughtful conversation about how it is actually a continuum - CSR activities can pave the way or be a necessary asset for inclusive business. It is the interplay between the two that may be the recipe for success.  In a related post, Manish Shankar (Associate Vice President at ANDE Member Intellecap) demonstrates a concrete example of this relationship.

Another interesting article posted on Ethical Corporation's site poses the question: is there an optimal degree of sustainability within a corporation?  The authors conducted a study in which they compared two sets of 90 companies each.  The 180 firms were virtually identical, except that 90 were classified as "high sustainability firms" while the other 90 were "low sustainability firms," based on corporate policies, adopted practices, and stated goals.  The authors analyzed the performance of these sets over the period of 1993-2010...and found that the "high sustainability firms" significantly out-performed the "low sustainability firms."

Tags:  CSR  inclusive business  supply chain  sustainability 

PermalinkComments (0)
 

Early lessons from Walmart’s sourcing from women entrepreneurs

Posted By Joanna Herrmann, Aspen Network of Development Entrepreneurs, Tuesday, January 29, 2013
"When it comes to making the case for empowering women entrepreneurs, it’s "mission accomplished,” according to Isobel Coleman, director of the Council on Foreign Relations’ Women and Foreign Policy Program, who has researched the issue for many years." Walmart's plan to double its sourcing from women-owned businesses worldwide is an attempt to...systematically include women-owned businesses in one of the world's largest supply chains. This article is chock-full of ANDE members - with Mercy Corps, WEConnect International, and TechnoServe all highlighted.  Read the full article.

Tags:  Agriculture  ANDE Members  supply chain  women 

PermalinkComments (0)