Global Social Impact Investments SGIIC (GSI), an impact investment fund manager, today announced a 15 million euro investment from the Spanish Agency for International Development Cooperation (AECID). This investment aims to bolster GSI's strategy of investing in high-impact African companies. The funding is channeled through the Development Promotion Fund (FONPRODE), managed by AECID with advisory support from COFIDES, the Spanish Development Finance Institution (DFI), known for financing sustainable and developmental projects worldwide.
GSI, through its GSIF Africa RAIF vehicle, targets investments in companies that deliver substantial social and environmental benefits across Sub-Saharan Africa. These investments primarily aim to uplift the region's most vulnerable populations, including small-scale livestock and agricultural producers and their families.
In addition to the 15 million euro direct investment, AECID is providing 3.5 million euros in technical assistance. This assistance is designed to enhance the operational capabilities of the invested companies and to rigorously assess the additional benefits and impact of these investments.
Impact Metrics: Over 6 Million Beneficiaries
Since its inception in December 2020, GSI's African investment portfolio has achieved an annualized net return of 4%. During this period, the fund's investments have resulted in an average 39% increase in the incomes of the beneficiary communities and the creation of nearly 3,000 new stable jobs. Additionally, more than 15,000 jobs have been maintained, directly benefiting over 6 million people, with more than 75% of these beneficiaries being women, according to GSI's latest impact metrics.
Notable companies in the portfolio include Burn, a social enterprise transforming the cooking sector in East Africa by selling low-cost stoves that consume half the fuel and significantly reduce carbon emissions, thereby providing health and economic benefits to millions of families. Another key company is JKCC, a Ugandan enterprise that improves the livelihoods of thousands of small coffee growers by enhancing their land yields and enabling them to sell their coffee at competitive prices.
Eva Granados, President of AECID and Secretary of State for Cooperation, commented: “The Government of Spain is firmly committed to promoting impact investment through collaboration with public and private entities. Our goal is to achieve significant development milestones for all sub-Saharan African countries, ensuring regional stability, sustainable economic growth, and the dignity of all its inhabitants.”
María Ángeles León, co-founder and president of GSI, added: “We are very pleased with the support of AECID and COFIDES for our impact investment model. At GSI, we believe that investing in high-impact small and medium-sized enterprises is crucial for generating sustainable wealth and employment in sub-Saharan Africa, thereby contributing to a more just and prosperous future in the region.”
About Global Social Impact Investments
Global Social Impact Investments SGIIC, SAU (GSI) is a Spanish impact investment fund manager that aims to generate attractive returns for its investors through investments in companies that deliver positive social and environmental impacts. Founded in 2020 and registered with the CNMV, GSI specializes in identifying profitable and sustainable companies that promote the socioeconomic inclusion of vulnerable populations. The firm boasts a management team with a robust 20-year track record in impact investments, combined with deep expertise in the regions and sectors where it invests.
Currently, GSI employs 14 professionals who specialize in investment and social impact measurement. The firm manages two investment vehicles: GSIF Africa (Sicav SIF) and GSIF Spain (FESE), with a total of 100 million euros in assets under management. GSI is a part of Santa Comba Gestión S.L., a family management entity that integrates financial, business, and philanthropic projects, led by María Ángeles León and Francisco García Paramés.