SOCIAL IMPACT
Beyond our neighbourhood
Exporting our financial and business know-how to help other communities
We are here today because of the kindness of others when we most needed.
We do our small part to pay it forward when we can, and we hope others can do the same.
Case study 1: universal access to financial services
Lanterns Microfinance—
lighting rural Uganda with access to credit
Lanterns Microfinance Ltd is a microfinance institution in Uganda operating in the rural region of Soroti District. It offers financial services to low and middle income individuals who otherwise would have no access to banking or credit.
Lanterns products include savings, agricultural loans, school fee loans, and loan products to Village Savings and Loan Associations (VSLAs).
Hoovest is an investor since its inception in 2017.
Case study 2: digital finance
Ensibuuko—digitizing the financial ledgers of savings and loans co-ops in Africa
Ensibuuko is a fintech company based in Uganda backed by a group of Canadian angel investors, including one of Hoovest’s affiliate companies.
When Ensibuuko first started in 2014, much of the self-organized Savings and Credit Cooperative Societies (SACCOs) in Africa are using paper ledgers to keep records.
If anything were to happen to the records, the basic savings and credit mechanism that supports an entire village could break down.
Thankfully, Ensibuuko and other fintech companies are helping SACCOs advance using technology. Ensibuuko also provide SACCOs with mobile phone banking capabilities for their members and allow for SACCOs to access the banking systems.
Ensibuuko’s partners:
Investment thesis
What we look for in our social impact activities
Our own capital at risk
These investments are funded by our own capital rather than investor or client capital because they form part of our extended business and are inherently risky.
Rooted in financial services
Because of our expertise in financial services, we look for companies in the industry to support so that we can be helpful as a capital partner.
Environmental impact
Being good stewards for our client capital means looking at everything from a holistic wellness perspective. As such, doing our part for the environment is an important factor.
Impact into the future
What we do today can benefit or hurt the next generations and generations to come. We look for opportunities to serve our young generation and generations to come.
