I&P and the Jacobs Foundation launch the Education Impact Fund in Côte d'IvoireSubmitted by Admin on Tue, 11/14/2017 - 14:24
The fund will provide financial and managerial support to Ivoirian start-ups and small enterprises with strong impact on the quality and accessibility of education in the country.
Promote access to education, a top priority for I&P and its partners
Access to education is key to address the challenge of job creation in Sub-Saharan Africa, one of I&P’s primary impact objectives. Over the course of its 15 years of investment, I&P has supported several initiatives in the field of education and training, including notably the Malian company Trainis and the pan-African network Enko Education. Comoé Capital, an Ivoirian fund sponsored by I&P, shares the same values and impact objectives.
Access to education and training remains indeed a critical challenge in Sub-Saharan Africa. As recently recalled by the World Economic Forum, Sub-Saharan Africa is the lowest-ranked region in terms of human capital development. According to UNESCO (2012), 56 million sub-Saharan Africans aged 15 to 24 had not completed their primary school education and lacked professional skills. With a working age population projected to triple to 1.25 billion, the continent will need to create jobs at an extremely rapid pace to absorb this increasing labor force.
The Jacobs Foundation has been working on improving the living conditions of all children and youth in Côte d’Ivoire through the Transforming Education in Cocoa Communities (TRECC) program. Through the work of TRECC, the Jacobs Foundation and its partners have noted that the education entrepreneur ecosystem in Côte d’Ivoire remains weak. The private sector has still limited interest in addressing the pervasive challenges of the education sector, especially in rural areas. “We are excited to launch the Education Impact Fund in Côte d’Ivoire, as one of our ambitions under the TRECC program is that the country emerges as a hub for education enterprises catalyzing the provision of affordable market-based solutions that improve the quality education in rural communities throughout West Africa,” says Fabio Segura, Director of International Programs for the Jacobs Foundation.
Investment strategy: Support 10 education-related SMEs in Côte d'Ivoire
The goal of the partnership will be to provide risk finance, support and bring subsidized technical assistance to 10 SMEs by 2021, in order to grow innovative solutions to Ivorian education challenges. It includes both seed financing (small loans ranging from €10,000 to 60,000) and development financing (€60,000 to 200,000).
The investment strategy is fully in line with Comoé Capital’s objectives: targeting Ivoirian small businesses presenting strong impact opportunities and added value and operating in the education sector (including professional training, publishing, bookshops, services to educational institutions, etc.) “Education is key to the future of any country, especially for developing countries. Through initiatives like the Education Impact Fund, Comoé Capital is fostering more inclusive and high-quality education.” said Issa SIDIBE, CEO of Comoé Capital.
Investisseurs & Partenaires is an impact investment group dedicated to African Small and Medium Enterprises. Since its creation in 2002, I&P has invested in more than 60 companies, located in 15 African countries and operating in various sectors of activity (health, transport, microfinance…). These enterprises create local “added value” and long-term employment, and generate important social, environmental and governance impact. The team develops long term partnerships with entrepreneurs, sharing management expertise and knowledge that is useful for improving business strategy, structuring, and success. To read more: www.ietp.com
Comoé Capital is the first impact investment company dedicated to finance and support high-potential SMEs in Côte d’Ivoire. Comoé brings risk capital, management support and technical assistance to Ivoirian SMEs requiring investments between 20 and 300 million FCFA. Comoé Capital is managed by Issa Sidibé. To read more: http://comoecapital.com/
The Jacobs Foundation is a Swiss-based foundation that seeks to benefit future generations by providing children and young people with better opportunities for development. In 2016, along with its partners, it launched the Transforming Education in Cocoa Communities (TRECC) program in Côte d’Ivoire to work with local stakeholders and partners to improve the quality of education in the country. The creation of the Education Impact Fund was made through the TRECC’s venture philanthropy program. To read more, click here