In 2008, GreaterGood South Africa and the SA Social Investment Exchange established the South African Impact Investing Network (SAIIN) to raise awareness about – and advance the concept, practice and growth of – impact investing in South Africa. Operating as a national membership association in relationship with the Global Impact Investing Network (GIIN) and Social Investment Forums in Europe, the United Kingdom and the United States, SAIIN aims to:
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Raise awareness and stimulate debate around impact investing and its value to South Africa |
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Grow the body of research available to facilitate the expansion of impact investing in South Africa |
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Research and examine the capacity and technical challenges facing impact investing opportunities and chart possible solutions to these |
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Consider the impact of regulatory frameworks |
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Provide programmes and resources to advance impact investing
in South Africa through investor awareness and understanding |
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Develop effective mechanisms for investors, implementers and capacity strengtheners to work together to grow the impact investing sector in South Africa. |
The current global financial situation clearly highlights the critical need for a shift in investment practice to include conscious choices that pro-actively address poverty, environmental degradation, climate change and other social justice issues. South African investors, organisations and enterprises that are actively tackling these challenges have an opportunity to collaborate and shape a strong impact investing sector within the country.
Global impact
GreaterGood SA has been engaged on the global stage since its inception when it received the First International ePhilanthropy Award. Since then, it has continued to contribute to the development of good practice and cutting edge social technologies as well as to the development of standards for social investment.
The emergence of online social capital marketplaces and social stock/investment exchanges in recent years represents a key response to the need for market-based approaches to the social investment environment. In response to requests to replicate SASIX in other countries, GreaterGood SA initiated efforts to establish a Global Federation of Social Investment Exchanges (GSIX) to support these requests and further the development of sound approaches to social investment.
Specifically, GSIX is designed to make the allocation of social capital more efficient and effective by increasing information flows, and encouraging the deployment of the right financial support to the right partners to deliver on change strategies. GSIX will support emergent and existing structures to define their methods, set standards, define boundaries and seek collectively beneficial partnerships. Ultimately this will allow donors, social investors, advisors, philanthropists, enterprises and entrepreneurs to understand the global options for impact before they take action. As a network of exchanges, and a partner to other networks, GSIX can bring together appropriate national and regional exchanges, expanding the reach of their platforms and ensuring that enterprises and investors have access to the global marketplace. GSIX will directly contribute to organising, improving, and growing social investment exchanges and the analysts, brokers, and financial intermediaries who depend on them.
GreaterGood SA is also a member of the Global Reporting Initiative’s working group establishing a Non-Profit Sector Reporting Supplement that aims to provide reporting guidance for non-profit organisations, with a focus on Programme Effectiveness and Governance. Once the framework is finalised, we will incorporate these components into GreaterGood’s own reporting as well as into the SASIX tools for further accountability reporting on general sustainability and governance issues.
Our work with the United Nations’ Special Unit on South-South Cooperation, for whom we have developed a Human Development Social Exchange, helps promote best practice and stewards donors and development initiatives in the Global South. We are also engaged with the OECD’s Global Project on Measuring the Progress of Societies and with the Rockefeller Foundation’s IRIS (Impact Reporting and Investment Standards) initiative which aims to develop a set of definitions and metrics that can be used to assess the social and environmental performance of capital aimed at achieving triple bottom line returns.
Platforms that broker social investment like SASIX have grown out of the need for effective, sustainable investment in social development as more and more people realise that donations alone are not enough to solve the major problems we face globally.
Corporate sustainability
Corporate social investment has burgeoned in recent years, thanks to an increasing awareness of the role that companies play in the development of the communities where they operate. It is also evolving – from a largely compliance-based, ‘cheque-book charity’ model to a more integrated and strategic approach where CSI portfolios are an integral part of the operation of business, from planning through to reporting. Projects are proactively selected and many companies are establishing and supporting flagship projects that are extensively monitored and evaluated.
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"There is a critical need to connect social investment vehicles with funding that they wouldn’t normally have access to."
- Nicky Newton-King, Deputy Chief Executive,
Johannesburg Stock Exchange
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Our CSI Services team consolidated and expanded our services to corporate clients in 2008-09. GreaterGood’s CSI Services activities generated significant revenue and achieved a 60% generated income-expenditure ratio thanks to an extensive and holistic suite of products
and services to serve the full spectrum of CSR and CSI activities.
Our CSI Services include:
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Strategic consulting: we developed, reviewed or re-defined CSI strategies and policies for 13 major companies. |
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Training: we provided CSI training for CSI managers, CSI committee members and employee volunteering co-ordinators. |
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Research and evaluation: we researched, assessed and verified non-profit organisations and projects; evaluated existing CSI programmes and their impact; helped establish effective CSI project monitoring and evaluation systems and researched the CSI environment within specific industry sectors for 15 clients. |
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Financial and administrative support: we provided administration and/or management support of CSI programmes, foundations, grant funding allocation and distribution; financial management of CSI funds; screening and assessment of funding applications and
donation requests. |
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Corporate CSI Communications: we provided creative design, evaluation and writing as well as final production of annual CSI reports and booklets – both printed and online. |
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Employee volunteering: we identified employee volunteer opportunities, developed, implemented and managed employee volunteer programmes. In the past year we reached over 4,000 employees who completed more than 219 projects nationally. |
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Staff Payroll Giving: we created and managed staff payroll giving programmes, including tracking and reporting on donations. |
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Surplus product redistribution: In 2008-09 we ensured that more than 5,297,840 surplus items from six companies reached beneficiaries in remote corners of the country. |
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Campaign co-ordination support services including a sporting goods distribution campaign for a major retailer and an inspirational school art competition. |
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CSI management solutions: through CSR Systems, we provided customised technology platforms and business process solutions for the effective management of corporate social investment activity. |
greatergoodsa.co.za/csiservices
Internal stewardship
The 2008-09 financial year saw significant changes to the structure, staffing and management of GreaterGood South Africa, culminating in a formal organisational restructuring in February 2009. This mostly addressed the need for additional senior management capacity and the separation of key areas of activity within the organisation to
enhance good governance practices and accountability.
With a staff of 28, new premises in both Cape Town and Johannesburg, and growing demand for our services and campaigns we needed to clarify management and oversight to ensure that the entities within the broader GreaterGood South Africa “group” are aligned and focused on our overall mission. Our strong and committed Board who fill an important governance, oversight and strategic support role has helped enormously this process.
In February 2009, leading brand expert Mike Freedman of Freed Thinkers contributed significant energy and talent pro bono and led a brand workshop over two days with key GreaterGood South Africa staff. The workshop proved to be an extremely valuable exercise, helping the GreaterGood Board and the Senior Management team to re-examine its structure, values and brand identity and explore ways to refine and enhance the brand to bring clarity to its work.
GreaterGood SA Founder, Tamzin Ractliffe, has temporarily stepped in to assist in an oversight role to facilitate the change management process and ensure the appropriate support of the new executive management team as well as the development of the middle management team of professional staff assuming new roles. With regard to the core business entities, Carol Tappenden has taken on the role of Managing Director of CSR Systems, Sophie Hobbs leads the team and strategic development of the GreaterGood South Africa Trust, Dean Hand has assumed the role of Managing Director of GreaterCapital whilst Louise Driver has stepped up to head GreaterCapital Consulting. The added capacity of Penny Melck, a registered Chartered Accountant in Group Finance and Administration further assists in enhancing the accountability and governance functions of the organisation.
The new organisational structure was approved by the GreaterGood SA Board in February 2009 and we will be refining the independent and collaborative brands within the GreaterGood group, with a view to roll-out any changes in the second half of 2009.
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