Financing and supporting early-stage businesses in Uganda is not an easy task. In this report with USAID we look at what we have learned from our portfolio over the last few years and how this helps to inform our investment criteria going forward.
Yunus Social Busines (YSB) and its sister organisation Zero Poverty Ventures are cooperating with Global Social Impact (GSI) and the Open Value Foundation, founded by María Ángeles, to bring expansion funding to high potential Social Businesses in East Africa.
Earlier this year we took a group of philanthropists and partners to visit some of the social businesses in our portfolio in Uganda including Godson Commodities, Impact Water & Tugende. We also visited Kenya to see some of our pipeline companies.
Tugende is a Social Business that helps mototaxi drivers double their incomes by owning their motorcycles. They have helped over 18,000 motorcycle taxi drivers with higher incomes, including the drivers’ families, that’s over 85,000 people.
The network wave has surged, and many organisations today are following a similar network-centric approach. A popular example is Spotify’s world-famous culture - driven by its organisational structure.
Building a network requires processes, structure and lots of alignment. But in order for the network to truly work, it requires trust and deep-felt human connection around a common purpose. For over 10 years, YSB has built a strong network and every year we are learning more about the effects of communities and networks. This allows us to address social problems in bold new ways.
The MAN Impact Accelerator #2 isn’t quite over yet and now is your chance to celebrate the journey and the closing of another successful batch.