PRESS RELEASE: The Otunba Tunwase Foundation subscribes to social impact bond
Lagos, Nigeria – The Otunba Tunwase Foundation recently purchased Babban Gona’s innovative bond known as the Raise Out of Poverty Bond (ROPO), making it the first indigenous foundation to subscribe to the bond.
The ROPO bond, issued by Babban Gona Farmer Services Limited, a portfolio company of Doreo Partners, finances the working capital requirements of smallholder farmers in Kaduna, Nigeria.
Babban Gona, an agricultural franchise developed by Doreo Partners, improves the livelihoods of smallholder farmers by franchising grass root level farmer organizations known as ‘Trust Groups.’ Trust Groups are provided a sustainable, private sector channel for cost effective delivery of enhanced agricultural technologies, credit and services that optimize yields and labor productivity, while simultaneously improving market access.
The investment made by the Otunba Tunwashe Foundation will directly take 560 people out of poverty.
To learn more about the ROPO bond or to subscribe, contact Doreo Partners at firstname.lastname@example.org.
About Doreo Partners
Doreo Partners is an impact investment firm with a proven track record of exclusively investing in profitable, high growth, early stage businesses that improve the livelihoods of Nigerian smallholder farmers. Doreo’s investment strategy is driven by the team’s passion to provide a private sector driven solution to Nigeria’s leading social challenge: spiraling youth unemployment. The firm developed the Babban Gona model as a mechanism to address the unemployment challenges through the agricultural sector, an engine of economic growth.
The Babban Gona franchise model overcomes a key underlying structural problem that keeps small holder Nigerian farmers poor i.e. low economies of scale. Utilizing a sustainable private sector franchise model, Babban Gona provides cost effective, end-to-end services to a network of franchise farmer groups, called “Trust Groups.” The franchise model provides the required economies of scale to efficiently deliver services to small holder farmers, such as training and development, credit, best practice agricultural input technologies and output aggregation, storage and marketing services. The organization provides low interest rates to smallholder farmers with a further reduced rate to women. Within a year, Babban Gona has scaled ten folds serving over 150 Trust Groups.
3 Baajiki Close.
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