GEXSI launches Africa Bottom of the Pyramid Fund

Africa now has – albeit unevenly distributed – an emerging vibrant, high-potential social entrepreneurship sector. If it is to succeed, access to training, business planning, mentoring, marketing and start-up capital are all essential. The Global Exchange for Social Investment (GEXSI) is joining hands with expert organizations in these fields to launch the Africa Bottom of the Pyramid (BoP) Fund to provide initial funding to pro-poor enterprises in Africa.

GEXSI is a UK-registered charity that links philanthropists, entrepreneurs and investors in funding exceptional economic, ecological and social projects for sustainable development in low-income countries. Its objective is to move social entrepreneurs in the world’s poorest communities ‘from Aid to Market’ – from charity dependency to the development of viable businesses which can support their causes and provide economic benefit and employment in their communities.

The fund will finance a portfolio of first-generation projects, all designed to become self-sustaining and to pay back the start-up funding received in accordance with their business plans. Repayments will be used to finance second-generation projects along the same lines. The BoP Fund will use donated grant money on a revolving basis. Donations are not repaid to the donors but instead are re-lent to benefit additional social enterprises.

Along with the structuring and management of the Africa BoP Fund, GEXSI provides – as an integral part of fund management – business development services (coaching, business planning, and facilitation of market access).

GEXSI welcomes expressions of donor interest in the Africa BoP Fund and also specific proposals for outstanding first-generation investment opportunities, provided they fit with its selection criteria and its ‘from Aid to Market’ objectives.

For more information
Contact Christine Purdy at Purdy@gexsi.org or go to www.gexsi.org