Social Impact I

Africa & Latin America

Social Impact I seeks investment opportunities in SMEs in developing and emerging countries, providing essential products and services to vulnerable people, with the aim of improving their daily living conditions.

Social performance (consolidated figures)

• 41 SMEs and 111 clinics have been financed in a total of 5 countries (Ivory Coast, Cameroon, Mexico, Peru and Ecuador)

• More than 50% of SMEs classified at level C (highest level of impact of the IMP methodology).

• 32.4% of the current portfolio is financing 17 private clinics in Mexico, increasing access to healthcare for middle-low incomes.

• 85.7% of the SMEs financed carry out an activity that is useful to a high degree (level C) or less high (level B) for the lives of middle and low-income populations.

BACKBONE has adopted the IMP methodology, a standardized and consensual tool used by many investment players to qualify the impact performance of a portfolio.

• Level A: Act to avoid harm. By offering, for example, decent salaries to employees.
• Level B: Create added value. For example through an offer of goods or services favorable to health or the education of stakeholders.
• Level C: Put your abilities at the service of solutions to one or more social, societal or environmental problems . By promoting, for example, the integration of people far from employment or by offering inclusive financial services.

C > B > A

Key facts

Inception date: 30/04/2018
Sector: Food supply, health, social inclusion & community services and education
Impact creation: Meet the basic needs of populations at risk and promote job creation
Status: Closed
Maturity date: 30/10/2025

Partnership opportunity

The right to dignity should not be conditioned to income level

To address the public health services gap, Garantia and BACKBONE partnered in raising a fund to finance SMEs (clinics, health care centers, medical offices) that provide private accessible health care services in Mexico

Plus, Backbone finances local SMEs in Africa to address the lack of access to essential goods and services.

The key-role of SMEs in providing solutions to improve people's living conditions is supported by their local knowledge and ability to adapt to their domestic and regional markets, allowing them to get fit to fulfill their role in the long-term for the benefit of all.