It will provide up to $150,000 in funding for social businesses across Africa, as well as access to support and network.
German-based non-profit Impacc has announced its plans to allocate smart equity investments to social businesses with sustainable, high-impact solutions to social, environmental, and economic challenges affecting communities in Africa, with businesses operating in this field invited to apply for its fund.
With the intention of investing up to $150,000 in businesses, Impacc is scaling social businesses working in support of impoverished communities across Africa. The smart equity investment will have the nonprofit teaming up alongside local founders with good potential to provide local jobs and support local community economies.
Impacc CEO Till Wahnbaek said: “We use the tools of business to meet social challenges. We identify local green businesses that have already had first proof of concept and help them grow by scaling their business through a franchise system into other regions and countries.”
Applications to apply for the new venture fund are open until 15th June. Beyond financial support, successful applicants will also receive business growth support through mentorship from key industry experts and coaches, and access to the Impacc network, technical strategy options, and business modelling.
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