Mention of Anglo American’s SIB tackling malaria in Africa within the story about matched funds for a big corporate project in the general social impact investing field is today’s story.
Looking back on the year this has been one of amazing progress for SIB structures, a theme I hope to have time to expand on later in the week. Meanwhile, happy reading:
Big Society Capital Competition Offers Match Funding To A Corporate With An Investment Idea
Third Sector
Big Society Capital has launched a competition that offers private sector firms up to £15m in match funding for an investment idea that generates strong business and social value in the UK.
The winning submission to the Business Impact Challenge will receive between £5m and £15m in investment from BSC, which must be matched by the entrant.
BSC says submissions could include direct investments in social enterprises, collaborations between business and social sector organisations to tackle social issues or social impact bonds. Examples of corporates already involved in social investment, it says, include: the energy firm Centra, whose Ignite Fund is designed to tackle fuel poverty; the mining firm Anglo-American, whose social impact bond tackles malaria in Mozambique; Coca-Cola; and the restaurant chain Nando’s.