New report: Social Impact Bonds could boost development and job creation in South Africa
Monday, April 7, 2014
Social Impact Bonds (SIBs) hold tremendous potential for government to increase effective support for struggling entrepreneurs in South Africa, according to a new report presented to the National Treasury, the Jobs Fund, and the dti.
The report, a policy paper entitled Exploration of Social Impact Bonds for SME Development, was put together by the Bertha Centre for Social Innovation and Entrepreneurship (located at the University of Cape Town Graduate School of Business), Genesis Analytics and Social Finance (the UK organisation that developed the SIB model).
“SIBs are innovative financing instruments that are designed to help governments explore and expand effective social programmes among a pre-defined target group,” says Jane Newman, International Director at Social Finance. “They bring rigour, innovation and flexibility to social programmes by focusing on agreed outcomes, testing new innovations and building responsive programmes that are managed to deliver the best results.”