Weconomy: investing in Africa’s development

Imagen de Weconomy: investing in Africa’s development

After several years of consolidating Responsible Asset Management, at Anesvad Foundation we took a leap forward in 2021 in the way we understand this management. Through Weconomy, we influence development in Africa by supporting 11 funds in 20 countries on the continent.

An increasing number of organisations are working to make this world a better place for those who come after us. Against this backdrop, the economy plays a fundamental role in reversing the planet’s inequalities and advancing towards a more egalitarian and sustainable future.

We started to manage our assets in a socially responsible way at the Anesvad Foundation in 2015. Through our work, we prioritise the management of our assets with a focus on maximum impact. After several years of consolidation, we call this management Weconomy, a concept that encompasses the economy of the common good and which serves as a source of pride. The philosophy behind Weconomy is simple: empower people and communities, generate social benefits beyond financial profitability and contribute to sustainable development.

How do we influence development in Africa?

In 2021 we are focusing our wealth management on funds and initiatives that have a positive impact on Africa’s development, consolidated high-impact funds to improve the lives of the continent’s most vulnerable people. We contribute to 11 funds with an impact in 20 African countries. Among other initiatives, these funds finance agricultural cooperatives, financial inclusion platforms, clean energy projects and education and employment programmes.

A good example is Green Lion. Green Lion is a Ghanaian company that provides goods and services for small informal businesses, which represent a $600 billion market and are vital to the economies of many African countries.

By responsibly managing our assets through the Global Social Impact Fund I, we are helping Green Lion to transform and modernise these small informal businesses in cities like Accra. They do this by supplying products, digitalisation and offering services that enable them to be more competitive.

These shops, which sell around 90% of all consumer goods to low-income customers, are owned by the vast majority of poor women entrepreneurs. By facilitating access to credit or managing their stock, Green Lion empowers thousands of African women entrepreneurs, improving their livelihoods and transforming their communities. Green Lion was acquired by TradeDepot, one of the fastest growing e-commerce companies in Africa, in early 2022.

Imagen de perfil de Mikel Edeso
Mikel Edeso
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