FIT supports organisations that stimulate independent economic activities, foster a spirit of innovative, social entrepreneurship and create sustainable employment opportunities in developing countries.
Albedo Solar Leasing, Guatemala
Bringing solar power to SMEs, NGOs and schools
Albedo Solar Leasing makes solar power accessible to SMEs, NGOs and schools in Guatemala. Albedo Solar provides technical, commercial and financial services, including energy auditing, planning, implementation, financing, monitoring and maintenance. It prioritizes SMEs, schools and NGOs managed by disadvantaged groups, thereby contributing to societal and environmental goals despite small financial margins.
The FIT investment will support the expansion of Albedo’s solar leasing business and will enable them to offer more favourable financial conditions to enhance their social performance. This in turn will not only benefit Albedo’s customers but will help Albedo to attract further impact investors.
Contribution to the SDGs
DEVELA SA, Guatemala
Supporting impact SMEs
The social enterprise Devela aims is to promote the financial inclusion of young entrepreneurs in Guatemala. Devela offers revenue-based loans for projects at the start-up or development stage that target the inclusion of vulnerable groups or minorities, provide solutions to environmental issues and empower women and young people. FIT is the first commercial investor in Devela with a seven-year senior debt. This long-term loan takes the slow growth process of startups into account and will enable Devela to support additional projects in a sustainable manner.
Invertir en ti, crecer contigo | Devela (develacapital.com)
Contribution to the SDGs
Renaca, Benin
Promoting sustainable agriculture
The Réseau National des Caisses Villageoises d'Epargne et de Crédit Autogérées du Bénin (RENACA-Bénin) is a microfinance institution that aims to become a reference in agricultural financing in Benin, particularly for small and medium-sized enterprises in the agricultural sector. It is placing ecological agriculture at the heart of its activities by focusing on the financing and promotion of professional, sustainable agriculture. These activities will be facilitated with FIT's five-year senior debt, which is RENACA's first long-term commercial loan. The FIT funding was tailored to address the liquidity constraints associated with agricultural finance.
Contribution to the SDGs
Women’s Investment Club (WIC) Capital S.A.S., Senegal
Holistic support for women-led businesses
The Women's Investment Club (WIC) in Senegal aims to give privileged access to modern financial instruments to women-led start-ups and SMEs with the potential of having a positive social impact. The aim is to introduce innovative financing mechanisms for women, promote women's leadership and entrepreneurship, position women as key economic players rather than bystanders, and accelerate the inclusive economic emergence of women in Africa. In addition to providing capital from both individual and institutional investors, investees are given technical assistance by the investment club members and the dedicated WIC ACADEMY.
FIT was the first commercial investor in WIC. Thanks to the loan, WIC can now expand its activities to Côte d’Ivoire and support additional businesses in Senegal.
WIC Sénégal – Women's Investment Club (wicsenegal.com)
Contribution to the SDGs
ZAMUKA FUTURE OF WORK FUND PLC, Rwanda
Enabling access to third-level education and employment
The Zamuka Future of Work Fund provides responsible, sustainable and ethical student financing for quality tertiary education in Rwanda and South Africa. Students can focus on their studies without being encumbered by debt thanks to an income share agreement business model that combines catalytic equity, impact debt and stakeholder investments.
Loan repayments are used fund the education of other students, creating a self-sustaining cycle of opportunity for all, while promoting social solidarity through responsible financing. Zamuka's partner educational institutions are diligently screened and have a track record of transition to employment.
In addition to enabling Zamuka to support more students, the long-term, subordinated FIT loan unlocked further major funding by other impact investors such as DFC, the U.S. International Development Finance Cooperation.
Contribution to the SDGs
