From 2016-2020, mothers2mothers (m2m) played an integral role in launching and managing the first Social Impact Bond (SIB) focused on Early Childhood Development (ECD) in the Global South.
Known as the Impact Bond Innovation Fund (IBIF), the three-year project in the Western Cape province of South Africa reached c. 4,000 children (ages three to five) with home-based early learning and parenting support.
In partnership with Volta Capital, m2m played the role of intermediary, including structuring the transaction, raising capital from impact investors (LGT Venture Philanthropy, Standard Bank Tutuwa Community Foundation, and Futuregrowth Asset Management), building the capacity of the project implementer (Western Cape Foundation for Community Work), providing ongoing technical assistance, and leading monitoring & evaluation and reporting.
m2m also worked closely with the Western Cape Department of Social Development, and ApexHi Charitable Trust, co-outcome funders of this initiative.
IBIF was an important and strategic opportunity for m2m to leverage our expertise in community health, early childhood development, and capacity building into new areas for social impact.
Now that the SIB has concluded, a number of analyses have been published.
Case studies highlight m2m’s work on Social Impact Bond
We are pleased to share two in-depth case studies with our readers: the first was developed by the Bertha Centre for Social Innovation & Entrepreneurship with funding from a consortium including NORRAG, and the second was developed by Intellidex with funding from Standard Bank Tutuwa Community Foundation.
These resources share more background, outcomes, and challenges and opportunities identified through the process. m2m is proud of its work collaborating with government, community organisations, and the investor community to demonstrate the promise of innovative, results-based financing mechanisms in sub-Saharan Africa.
Moreover, while IBIF was our first foray into results-based financing, we are eager to build on our experience and continue to collaborate in an important, growing space. We encourage you to get in touch with us if you would like to understand more and discuss future opportunities!