Thursday
April 12
2018

NRD Foundation Supports Jibu with First Philanthropic Pledge

By Nicholas Upton

Jibu, the Kenyan-based social enterprise has a few new backers in a successful, $7 million funding round that included the new NRD Foundation.

The foundation was inspired by Aziz Hashim, the successful multi-unit franchisee that created a franchise-focused private equity firm NRD Capital, to support social entrepreneurs and job growth around the world. The first focus for the foundation is Africa, where NRD Capital already has investments.

“Launching the NRD Foundation is merely the institutionalization of an activity which has existed since I started my career. Helping others improve their quality of life is a core ethic,” said Hashim. “Through the NRD Foundation, we will support organizations like Jibu with the same high-level financial and operational support we bring to our equity investments. By utilizing a franchise model to bring water and basic resources to underserved populations, Jibu is a natural fit for our first investment.”

Photo courtesy of Jibu.

Source: Franchise Times (link opens in a new window)

Categories
Entrepreneurship, Investing, WASH
Tags
philanthropy, private equity, sanitation, social business, social enterprise, WASH