IMPACC has announced plans to invest between Ksh. 3,211,500 – Ksh. 16,057,500 ($30,000 – $150,000) within a period of 6 to 12 months to local social businesses with sustainable high impact. IMPACC builds and scales social businesses where markets are not structured, targeting impoverished communities in Africa.
Applicants should provide innovative solutions to social, economic and environmental challenges affecting the base of pyramid communities in Africa. Deadline for applications is 15th June, 2021.
The investment is aimed at transforming the local ecosystem by leveraging on the disruptive power of innovative local products and services as a driver for inclusive and sustainable growth.
The application process consists of two phases with the second phase only open to those identified as a potential match for investment. Selection to successful raise of the investment funds may take 6 to 12 months.
“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,” said IMPACC CEO Till Wahnbaeck while making the announcement.
Jochen Moninger, IMPACC Co-Founder said the planned investment is in line with their goals to build social businesses with local founders that have the potential to create local green jobs and generate impact, often with a franchise approach.
In addition to the financial support, successful applicants will also receive business growth support to accelerate their impact. This will include receiving mentorship from key industry experts and coaches to provide tailored support, access to IMPACC network to grow and scale their businesses, technical strategy options and business modelling.