Acumen, with support from Dow, Coca-Cola and Standard Chartered hosted the Technical Assistance (TA) Initiative Summit from 14th – 16th May 2013 in Nairobi, Kenya. The Summit signaled the start of the TA Imitative that aims to accelerate the development and distribution of crucial products and services in agriculture, water, sanitation and energy across East and West Africa.
“Dow is proud to collaborate with Acumen to foster sustainable change and business growth in the region,” said Ross McLean, president, Dow Sub-Saharan Africa. “The collaboration represents an important opportunity to create shared learning and open dialogue on how best to support local economies and address societal needs in Africa at a time of significant business growth.”
The Summit brought together 10 social enterprises in Acumen’s portfolio from across East and West Africa. They were joined by Dow, Coca-Cola, Standard Chartered and several other leading corporations. Duncan Onyango, Acumen East Africa Regional Director said “this Initiative will help craft a realistic model to resolve daily operational challenges faced by social enterprises”.
Acumen’s mission is to change the way the world tackles poverty by using investment tools to build businesses that serve low-income communities across South Asia and Africa. Acumen has invested over $30M across East Africa, impacted 81M lives through its investments and helped social enterprises attract an additional $66M. Acumen established a local presence in East Africa in 2007 and has created and supported 44,000 jobs through its investments.
Sapna Shah, Acumen’s Portfolio Manager in East Africa, has invited the social enterprises attending the Summit to apply for Technical Assistance funds available to support their operations as they seek to scale. In addition, plans are underway with several of the participating corporations to engage directly with the social enterprises in support of their growth.
For more information please contact Kenneth Macharia, East Africa Business Development and Communications Manager at Acumen (kmacharia@localhost).
Acumen is a not-for-profit working to change the way the world tackles poverty by investing in companies, leaders and ideas. We invest patient capital in business models that deliver critical goods and services to the world’s poor, improving the lives of millions. Since 2001, Acumen has invested more than $83 million in 73 companies across South Asia and Africa. We are also working to build a global community of emerging leaders that believe in creating a more inclusive world through the tools of both business and philanthropy. Please visit www.localhost for more information.
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