Great news from South Africa as the Western Cape government sets money aside for their first SIB projects…
R25 Million Set Aside For Africa’s First Social Impact Bonds By Western Cape Government
Silicon Cape
The UCT Graduate School of Business’ Bertha Centre for Social Innovation and Entrepreneurship has been working with national, provincial and local government in South Africa to design and pioneer the use of social impact bonds – an innovative financial instrument that has proven to deliver better health and social outcomes globally.
The Western Cape Departments of Health (DoH) and Social Development (DSD) announced the allocation of budget for three Social Impact Bonds (SIBs) aimed at improving the health, nutrition and developmental status of pregnant women and children up to five years who live in low income communities. Together the two departments have set aside approximately R25 million to be spent on priority outcomes over the next three years with an additional amount to be contributed by the private sector.