In this section, we will update you with announcements from the ecosystem of inclusive business, pre-selected according to their relevance for inclusive business ventures.
List: IB in the news
The internet project Impact Database has set up a platform to help investors choose companies, and assist companies with building up an international network of funding agencies. The project, which was started by BMW and has been picked up by the University of Zurich, is an attempt to transparently show all major sustainability sponsors in Europe.
To commemorate her first anniversary, Nourishing Africa hosted a Virtual Country Roadshow across six African countries in June and July. The event series aimed to connect agriculture and food entrepreneurs in Africa, share their experiences, and gain resources and knowledge from the expert panels and in-depth discussions. Watch the recording!
Solidaridad, an international civil society organization, has launched a project christened “Reclaim Sustainability! Programme” to promote inclusive and sustainable supply chains in the country. The five-year programme seeks to contribute to sustainable and inclusive cocoa, oil palm and gold supply chains, in which producers receive a fair value for their produce and work under safe conditions, without the use of child labour, and land rights and ensure the protection of the forest.
Indigenous people play a vital role in the development of sustainable agricultural products, according to Cambodia Rice Federation (CRF). On Aug. 9, CRF’s President Song Saran shared experiences on inclusive business models in agriculture. The participation of indigenous people in the development of organic agricultural products is part of building the image of Cambodia at the international market, he said.
Ebenezer Onyeagwu, group managing director and CEO of Zenith Bank Plc, has called for increased impact investment in Africa: “Therefore, I implore investors in the agribusiness value chain to focus attention on Africa for organic food production, instead of genetically modified food in other climes,” he said. “As a socially responsible organisation, Zenith Bank continues to promote impact investment in Africa."
MyJouleBox, a Benin-anchored African solar distributor and operator, has raised €3 million ($3.5 million) Series A round to deepen its presence in its home market and accelerate its expansion in Burkina Faso, Senegal and Togo. EDFI ElectriFI, an impact investment facility funded by the European Union, invested €1.5 million of the total. This is split into €500,000 as equity alongside Gaia Impact Fund and €1 million as convertible notes together with Hivos-Triodos Fund.
The Ministry of Agro-Industry and Food Security (MAIFS) requested FAO, through the Secretariat of Intergovernmental Group on Tea (IGG-Tea), Markets and Trade Division, to support the development of an inclusive business model for a thriving and sustainable tea sector in Mauritius.
Is your business working to address a social or environmental challenge in Nigeria? Are you trying to raise capital to scale your business? If yes, apply for the 2021 Impact Investors Foundation (IIF) Annual Deal Summit and Impact Amplifier’s Investment Readiness Accelerator, funded by the Inclusive Business Action Network (iBAN).
In partnership with the United States Agency for International Development (USAID), the ANDE Gender-Smart Capacity Building Facility will award five grants of up to USD $30,000 for pre-investment, gender-smart capacity building services to joint teams of one investor and 1-3 SGBs in India, Brazil, or the East and Southeast Asia, Andean, or Eastern African regions. Apply by August 18, 2021.
The ILFF Funding Window Eastern and Southern Africa (ILFF ESA) aims to provide impact-linked funding to impact enterprises, thus enabling them to scale in both economic and impact terms. Applications are open until July 16, 2021.