Acumen Fund and Dow Partner to Scale Social Enterprises in East and West Africa
Monday, September 24, 2012
New York, September 24, 2012 – At the 2012 Clinton Global Initiative (CGI) Annual Meeting today, Acumen Fund, a nonprofit global venture fund addressing poverty across Africa and South Asia, and The Dow Chemical Company (NYSE:DOW) announced a collaboration to scale innovative social enterprises in East and West Africa.
Working directly with pioneering entrepreneurs who are at the center of new businesses aimed at serving poor communities across the continent, this partnership aims to accelerate the development and distribution of crucial products and services in the sectors of agriculture, water, sanitation and energy. Through direct collaboration, social enterprises in Acumen’s portfolio will gain access to Dow’s expertise and technical assistance resources to help scale their businesses and better serve their customers. At the same time, these businesses will share practical insights on how corporations can achieve growth and social impact in Sub-Saharan Africa. Dow recently opened offices in Kenya and Ghana.
“This is an extremely exciting step for Acumen Fund. During more than ten years of investing, we have come to appreciate the various types of support that social enterprises require when creating new systems and solutions for the underserved,” said Jacqueline Novogratz, CEO and Founder of Acumen Fund. “With Dow’s support, these businesses have an opportunity to access valuable expertise, which will translate into substantial impact for communities across East and West Africa.”