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GroFin launches COVID-19 SME Support Fund in Northern Iraq

GroFin, with the support of USAID through a gift from the American people, is extending $1.5 million in financing to help small businesses in Northern Iraq overcome the crippling impact of the COVID-19 pandemic.

Ashraf Esmael, GroFin Chief Investment Officer: Middle East, says the pandemic has placed economies under immense pressure and has hit SMEs especially hard.

“The sudden halt in trading caused by strict lockdown measures has left many small businesses in Iraq’s Nineveh governorate struggling to cover their expenses. We are providing them with the working capital they need to survive and to preserve jobs and livelihoods.” – Ashraf Esmael, GroFin Chief Investment Officer: Middle East

The Fund offers loans of between $10,000 and $100,000 to existing businesses. The loan tenor is between 12 and 48 months, where the first 12 months is interest-free and a concessionary interest rate of 5% is levied for the remaining term.

Esmael says GroFin has moved quickly to adapt its existing programme in Northern Iraq to respond to the urgent financing need created by the COVID-19 crisis. In 2019, GroFin launched Northern Iraq Investments (NII) to help rebuild the local SME sector after the severe damage inflicted on the region’s infrastructure and economy when it was invaded by ISIS.

“Our work in Northern Iraq has shown us that access to financing is a major obstacle for local entrepreneurs who are trying to rebuild their businesses in a very difficult environment. We knew that we had to adapt our approach in the wake of COVID-19 for NII to fulfill its goal to help grow sustainable small businesses that create jobs,” Esmael explains.

USAID has committed a total of $7.5 million to NII to support business activities and SMEs in Northern Iraq as part of its Middle East and North Africa Investment Initiative. This amount includes the $1.5 million set aside for the COVID-19 SME Support Fund.

“USAID is happy to support Northern Iraq businesses recover from the economic shock caused by this pandemic,” says USAID Mission Director Dana Mansuri.

“This flexible small business loan program is another example of the longstanding U.S. commitment to the people of Iraq. Small businesses are an important driver of growth and recovery, and thus, our ongoing support to private enterprise and entrepreneurship in Iraq is important in helping Iraqis grow, prosper, and build their futures,” Mansuri concludes. GroFin has been operating in Iraq since 2013 and its funds have already invested $7.5 million in SMEs in the country, helping these businesses to sustain 658 jobs. Its staff in Iraq have also provided technical assistance to over 100 Iraqi entrepreneurs, assisting them in setting up and formalising their businesses to contribute to economic growth and stability. GroFin Iraq currently has offices in both Basra and Erbil, with plans to open a third in Baghdad.

About GroFin

GroFin is a specialist, impact-driven SME financier. We help entrepreneurs succeed by providing them expert advice, continuous guidance, and financing to grow their businesses. We believe that growing small businesses to create sustainable jobs is the most powerful driver of social and economic development that truly improves people’s lives.

Since its inception in 2004, GroFin has invested in over 700 SMEs and sustained nearly 90 000 jobs. Headquartered in Mauritius, we offer financing and support to SMEs in 14 countries in Africa and the Middle East. GroFin is supported by 34 international finance institutions, development organisations, and private funders who have committed nearly $535 million in capital & grants to our funds.

Brienne van der Walt appointed as successor to Guido Boysen

GroFin today announced that Brienne van der Walt, currently Chief Investment Officer, has been appointed as its CEO, effective 13 January 2020, to succeed Guido Boysen who will relocate back to Europe.

Jurie Willemse, GroFin Chairman said: “Guido’s drive combined with his commitment to serving the best interests of the company, have materially strengthened GroFin. He leaves a strong company well placed for future success. I’d like to thank him for his contribution to GroFin.”

“I am excited about the future of GroFin as Brienne has the qualities that we looked for in a CEO. He is a multi-disciplinary thinker with broad experience, shows intellectual curiosity, is entrepreneurial, yet objective.  He has strong technical skills and great business insight. He is a strong, dynamic and values-driven leader. The Board warmly welcomes Brienne to the role and wishes him every success.”

Guido Boysen, GroFin CEO said: “I congratulate Brienne on his appointment and look forward to working with him during the transition period. Brienne is a proven leader that shows appreciation for people, he builds respect and trust and his appointment is well supported by fellow team members.”

“It has been an honour to lead GroFin over the last years. Throughout this time, I have been humbled by the commitment and hard work of our people, and their passion for creating a truly purpose-driven company. I am very grateful to them, as I am to GroFin’s supportive investors and other stakeholders, with whom we have worked to build our unique business”.

Brienne van der Walt said: “It will be a great privilege to lead GroFin, a truly pioneering impact first SME financier full of talented people. I have seen first-hand the many ways in which GroFin finance and business support improve people’s businesses, positively impacting so many lives every day.”

“I’d also like to extend my gratitude to Guido for his leadership of GroFin and look forward to working closely with him during the transition.” 

Guido Boysen’s tenure as CEO ends 12 January 2020. He will support the transition process in the first half of 2020 and will leave the company at the end of June.

A successor to the role of Chief Investment Officer will be announced shortly.

About GroFin

GroFin is a pioneering private development financial institution specialising in financing and supporting small and growing businesses (SGBs) across Africa and the Middle East. We combine medium term loan capital and specialised business support to grow SGBs in emerging markets. By successfully combining medium term loans and specialised business support delivered through our local offices, we have invested in over 700 SMEs and sustained over 90,900 jobs across a wide spectrum of business activities within the 15 countries in Africa and Middle East that we operate in. GroFin has its headquarters located in Mauritius.

Media Enquiries:
Marketing & Communications Department
Email: media@grofin.com

GroFin receives high accolade at Nigerian Healthcare Excellence Awards

GroFin Nigeria won the Outstanding Healthcare Project-Friendly Financial Institution of the Year Award at the Nigerian Healthcare Excellence Awards (NHEA) 2019.

The award recognises banks and financial institutions that have created an inclusive innovative financing model for healthcare entrepreneurs or healthcare SMEs across the value chain. NHEA is an initiative of Global Health Project and Resources in Partnership with Anadach group and celebrates organisations who have contributed immensely to the growth of the Nigerian healthcare sector.

Felix Ezeh, Investment Executive at GroFin Nigeria, felt honoured that GroFin was recognised for this prestigious award:

“By this award, the public that voted for GroFin made a statement that they are appreciative of the work we are doing.  We heard them.  Our promise to them is that this award will only spur us to do more.”

NHEA’s recognition aims to stimulate quality improvement and innovation in the Nigerian health sector leading to improved service delivery & management of key health issues and the capacity of individuals to influence and set new performance standards in Nigeria & beyond.

GroFin’s unique model of combining finance and business support helps healthcare entrepreneurs and SMEs overcome challenges and improves their ability to manage the complexity of a growing business. GroFin has dedicated healthcare investment and business support expertise, both through its in-house healthcare “industry experts” and through formal partnerships with specialist healthcare partners like Medical Credit Fund (MCF).

GroFin’s healthcare portfolio in Africa and the Middle East consists of investments made in 41 SMEs, representing a total investment of US$ 16M, across the value chain of businesses in the healthcare industry including hospitals, clinics, dental facilities, maternal care and pharmaceutical outlets. Business support offered by GroFin includes a business planning framework, quality management systems, cash flow advice, medical waste management systems as well as operations and management expertise. And through its investments, GroFin has over 277,280 patients able to obtain medical care services annually and has helped sustain a total of 3,950 healthcare related jobs.

The NHEA 2019 brought further good news as a GroFin Nigeria exited client Healthplus Limited won Retailer of the Year Award, further helping to cement GroFin’s impact in the health sector of Nigeria.

About GroFin

GroFin is a pioneering private development financial institution specialising in financing and supporting small and growing businesses (SGBs) across Africa and the Middle East. We combine medium term loan capital and specialised business support to grow SGBs in emerging markets. By successfully combining medium term loans and specialised business support delivered through our local offices, we have invested in over 700 SMEs and sustained over 88,150 jobs across a wide spectrum of business activities within the 15 countries in Africa and Middle East that we operate in. GroFin has its headquarters located in Mauritius.

Media enquiries: Felix Ezeh, felix@grofin.com

GroFin and Shell Foundation: Harnessing technology for SME finance

From mobile money to blockchain and data analytics, fintech is not only disrupting the way corporate financial institutions operate, it also presents far-reaching opportunities for social enterprises and development finance institutions to strengthen their impact and efficiency.

Shell Foundation (SF) supports innovators to test new technology and enterprise models to help overcome two major global development challenges: access to energy and access to affordable transport. Its portfolio includes both social enterprises as well as market enablers – like GroFin – that accelerate the growth of proven sectors.

SF, a UK registered charity, has supported GroFin since its inception in 2004, when the two organisations came together to develop a unique model that combines finance and support to grow SMEs and drive inclusive economic growth. In line with SF’s focus to support businesses and intermediaries capable of delivering social change at scale, it also assisted GroFin in two projects aimed to enable the company to better leverage technology and increase the efficiency of its growing operations.

Mairi Tejani, Head of SME Growth at Shell Foundation, says financial technology innovations create a unique opportunity to redefine the SME lending ecosystem.

“We remain committed to supporting initiatives that increase the efficiency of the SME finance sector in emerging markets, and are pleased to partner with GroFin to test the use cases for financial technology innovations in SME funds.”

Increased efficiency

GroFin provides financing and business support to SMEs in 14 countries throughout Africa and the Middle East and has invested in over 700 businesses. The ability to provide effective business support to its clients is integral to GroFin’s business model. This requires the company to accurately capture and analyse financial and other data gathered from these SME businesses, or created through its transactions with them.

Until recently, GroFin relied on various internal systems and manually extracted the data it needs for analysis and reporting – a process which was both time-consuming and error prone. With Shell Foundation’s support, GroFin enlisted Altron Karabina, a specialist in helping companies digitally transform using the Microsoft platform, to develop a data warehouse and business analytics platform.

The data warehouse allowed GroFin and Karabina to develop automated reporting templates, eliminating the need to manual collate and update data for reporting purposes and greatly improved efficiency. For example, the project has allowed GroFin to slash the time spent on collating certain data for creating quarterly reports for investors from about two weeks to mere minutes.

GroFin is now using its own internal resources to extend the infrastructure and functionality created during the project to create a wider range of automated reports. Since the completion of the project, GroFin has already published more than 60 automated reports. The automation of reporting processes is freeing up time and resources within GroFin’s investment team, allowing them to spend less time on verifying figures and conduct the analysis needed to manage their portfolios and support their clients better.

A digital solution to capturing data

The need to maintain an efficient system of collecting data that is complete, accurate and auditable also led SF to provide GroFin with support to test and pilot a blockchain platform from BanQu, a US based, blockchain solutions provider. GroFin tested the use of a digital platform using distributed ledger technology (DLT) as a more effective and convenient means for its clients to submit the data required from them.

Philippa Massyn, IST Executive at GroFin, says the pilot project showed the great potential for development finance institutions and others engaged in impact investing to use digital platforms to collect data in the field.

“The project showed that a digital platform can not only make it easier for SMEs to submit their data, it can also be used to generate key insights through analytics.  We believe that if SMEs see this immediate benefit to submitting their data, they will be incentivised to submit again and on time.”

Serving SMEs better

Ashraf Esmael, Chief Development Officer at GroFin, says exploring new ways to capture and analyse data from SMEs, can make an important contribution to the development of the sector.

“Small businesses are vulnerable to shocks and therefore need to identify changing trends early on. The ability to capture and analyse data quicker and more effectively will help GroFin to provide better and more timely support to SMEs, and to do this more efficiently.”

Ryan Jamieson, CTO at Altron Karabina, says the company is excited to work with organisations like GroFin which have both an economic and societal impact.

“Altron Karabina helps companies to understand, manage and make decisions based on their data. In GroFin’s case this not only improved their own businesses processes. It will also help them to empower the SMEs they serve.”

GroFin Executive Transition Announcement

GroFin and its Board of Directors are announcing that effective 12 January 2020, Guido Boysen, Chief Executive Officer, is leaving the company to begin the next chapter of his career.  Over the past 12 years, Guido has played an instrumental role in establishing a culture of mutual respect, collaboration, and innovation within GroFin and among our stakeholders in the SME development and impact community.

We are grateful for his tireless efforts in helping GroFin grow and develop from its early years. Guido effected extensive change throughout GroFin and the SME development finance sector by implementing a benchmark SME risk finance system for the underserved.

“I am deeply inspired by how far GroFin has come and how many lives it has touched. The knowledge that now is right time for the next chapter in GroFin’s journey has helped me to make this difficult decision. I believe now is the time to secure GroFin’s future through new leadership, a fresh investment focus and boundless passion. There will always be challenges, but I am confident that GroFin is now poised to enter an exciting period in its history,” said Boysen.

“I will focus my remaining time with GroFin on facilitating a smooth transition to new leadership and support the implementation of the company’s medium-term Strategic plan. I also want to thank an outstanding GroFin team and our community of investors, funders, and advocates whose commitment and passion helped fuel our progress and demonstrable impact”. 

Jurie Willemse, GroFin Founder and Chairman, said:

“Guido and I share a passion and commitment for the mission of GroFin, and we both recognise the need for the business to continue to evolve. I am grateful for what Guido has contributed during his time with GroFin and he has played an instrumental role in getting GroFin to this point. We will miss Guido, but he leaves GroFin well positioned for further development and growth and we sincerely thank him for his leadership and great contribution to the company. The Board and senior team are committed to continuing to move GroFin and its mission forward as we have done for the last 15 years.”

An announcement regarding the appointment of a new CEO will be made in due course. If an appointment is not made by 1 January 2020, Chairman Jurie Willemse will lead GroFin in an executive capacity in the interim.

About GroFin

GroFin is a pioneering private development financial institution specialising in financing and supporting small and growing businesses (SGBs) across Africa and the Middle East. We combine medium term loan capital and specialised business support to grow SGBs in emerging markets. By successfully combining medium term loans and specialised business support delivered through our local offices, we have invested in over 700 SMEs and sustained over 88,150 jobs across a wide spectrum of business activities within the 15 countries in Africa and Middle East that we operate in. GroFin has its headquarters located in Mauritius.

Media Enquiries:
Marketing & Communications Department
Email: media@grofin.com

GroFin Ghana honored at 14th Ghana-Africa Business Awards

GroFin won its second Gold Award in the Financial Services (SME Development) category Ghana-Africa Business Awards. GroFin has been operating in Ghana since 2010 and previously received the same award in 2015.

GroFin received both awards in recognition of its outstanding contribution to the development of Ghana, within the context of the New Partnership for Africa’s Development (NEPAD). GroFin has invested over $30 million (USD) in 66 small and medium-sized businesses in the country. This investment allowed these businesses to sustain 3,224 jobs and to create 411 new direct jobs.  The Ghana-Africa Business Awards, now in their 14th year, are organised under the auspices of the Ghanaian Ministry of Foreign Affairs and Regional Integration.

Samuel Sedegah, Investment Executive at GroFin Ghana, says the company is honored by this acknowledgment of its efforts to develop small and medium-sized businesses in the country.

“SMEs are a key driver of job creation and economic growth in developing economies, and already contribute over 70% of Ghana’s GDP. However, the potential of many of these businesses remains constrained by a lack of access to finance.”

Indeed, according to the latest World Bank Enterprise Survey, 49% of Ghanaian firms cite access to finance as their greatest obstacle. Sedegah explains that GroFin not only provides entrepreneurs with appropriate financing, but also with continuous business support to grow, and ensure their success.

“SMEs are prone to very high failure rates. GroFin helps entrepreneurs to overcome this by offering a combination of finance and expert advice and business support that improves their ability to manage the complexity of a growing business.”

GroFin’s 2015 Ghana-Africa Business Awards was also in the GOLD category, after the organizer’s held consultations with the Ghana Export Promotion Center, Ghana Investment Promotion Center, Ghana Free Zones Board and Ghana Tourism Authority.

About GroFin

GroFin is a pioneering private development financial institution specialising in financing and supporting small and growing businesses (SGBs) across Africa and the Middle East. We combine medium term loan capital and specialised business support to grow SGBs in emerging markets. By successfully combining medium term loans and specialised business support delivered through our local offices, we have invested in over 700 SMEs and sustained over 88,150 jobs across a wide spectrum of business activities within the 15 countries in Africa and Middle East that we operate in. GroFin has its headquarters located in Mauritius.

Media enquiries: Samuel Sedegah, samuels@grofin.com

GroFin honoured in Global SME Finance Awards

GroFin’s innovative SME development model of combining access to finance, business support and market-linkages has received further recognition through an Honourable Mention at this year’s Global SME Finance Awards.

The GroFin Small and Growing Businesses Fund (“SGB Fund”) recently received this accolade in the “Product Innovation of the Year” category. The Global SME Finance Awards recognize outstanding achievements of financial institutions and fintech companies, in delivering exceptional products and services to their SME clients and are endorsed by the Global Partnership for Financial Inclusion (GPFI).

GroFin receives Honorable Mention at Global SME Finance Awards 2018

Guido Boysen, CEO, says GroFin is honoured by this recognition which affirms the merit of its approach to developing small and medium-sized businesses.

“GroFin has demonstrated how the typically very high fail rate among SMEs can be mitigated and through a model that is scalable. This means that GroFin’s approach can be replicated to make an even greater contribution to the development of emerging economies.”

Finance provided through the SGB Fund, coupled with business support interventions, have ensured that the SGB Fund has a viability rate of 86%, compared to a failure rate of 70- 90% for SMEs in emerging economies.

Guido Boysen says the SGB Fund is also regarded as innovative in its design to not only achieve socio-economic impact objectives, but also to generate sustainable returns for its investors.

“The ability to generate financial returns attracts investors and greatly strengthens the sustainability of the fund. This is crucial to any developmental project or fund which hopes to make a lasting impact.”

Earlier this year GroFin won the ICAEW and A4S Finance for the Future Awards, in the Building Sustainable Financial Products category, as well as the 2018 Islamic Economy Award in the ‘SME Development’ category.

About GroFin

GroFin is a pioneering private development financial institution specialising in financing and supporting small and growing businesses (SGBs) across Africa and the Middle East. We combine medium term loan capital and specialised business support to grow SGBs in emerging markets. By successfully combining medium term loans and specialised business support delivered through our local offices, we have invested in over 700 SMEs and sustained over 88,150 jobs across a wide spectrum of business activities within the 15 countries in Africa and Middle East that we operate in. GroFin has its headquarters located in Mauritius.

About the GroFin Small and Growing Businesses Fund (“SGB Fund”)

Established in 2014 and based on GroFin’s then decade-long experience in supporting entrepreneurs across emerging economies in Africa, the GroFin Small and Growing Businesses Fund (“SGB Fund”) focuses on SGBs that are typically neglected by traditional financiers and even conventional SME funds – the SME “missing middle” segment.

The Fund’s unique model integrates access to finance, business development skills and market linkages to ensure job creation at scale and facilitates the provision of vital services to low income households. It focuses on high impact sectors including education, healthcare, agribusiness, manufacturing and key services and further envelop women and youth as beneficiaries of its model.

GroFin wins Islamic Economy Awards 2018 in SME Development category

GroFin is pleased to announce that it has won the 2018 Islamic Economy Award in the ‘SME Development’ category. The winners were announced at the Awards ceremony held in Dubai this Wednesday 30 October 2018.

The Islamic Economy Award was launched in 2013 under the patronage of HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, and directed by HH Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Executive Council.

The Islamic Economy Award is managed independently by Thomson Reuters and is adjudicated by an esteemed judges’ panel based on formal, established criteria.

GroFin was represented by its Regional Investment Director for the Middle East and North Africa region, Mohamed Hawary, who collected the award on behalf of the company.

“This award is testimony to the efforts made by GroFin to ensure its products are accessible to one and all. We, at GroFin, are determined to provide our clients with financing that respects the customs and beliefs of our clients,” says Mohamed Hawary.

GroFin wins 2018 Islamic Economy Awards in the category of 'SME Development'

HH Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Executive Council, presents award to Mohamed Hawary, GroFin Regional Investment Director for the Middle East and North Africa region

HH Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Executive Council, presents award to Mohamed Hawary, GroFin Regional Investment Director for the Middle East and North Africa region

The Islamic Economy Award is held every year and has the following categories; Money and Finance, Media, Food and Health, Waqf and Endowments, SME Development, Islamic Economy Knowledge Infrastructure, Islamic Arts, Hospitality and Tourism, and the Lifetime Achievement Award.

This is the second prestigious award for GroFin this year as it also won Finance for the Future Awards in the Building Sustainable Financial Products category. Finance for the Future Awards is run by ICAEW and A4S along with their partner Deloitte.

About GroFin

GroFin is a pioneering private development financial institution specialising in financing and supporting small and growing businesses (SGBs) across Africa and the Middle East. We combine medium term loan capital and specialised business support to grow SGBs in emerging markets. By successfully combining medium term loans and specialised business support delivered through our local offices, we have invested in over 700 SMEs and sustained over 88,150 jobs across a wide spectrum of business activities within the 15 countries in Africa and Middle East that we operate in. GroFin has its headquarters located in Mauritius.

Soros Economic Development Fund commits $8 million to GroFin’s Nomou Jordan Fund

GroFin is pleased to announce that Soros Economic Development Fund has committed $8 million to its Nomou Jordan Fund.

GroFin specializes in financing and supporting small business growth across Africa and the Middle East. Its Nomou Jordan Fund provides patient capital and business support services to small and medium-size businesses (SMEs) in Jordan and thereby contributing to the growth of Jordan’s economy and the creation of sustainable jobs. The business support services include helping to position emerging SMEs to be investment ready and networking them to local and international business opportunities.

The Nomou Jordan Fund was launched in 2014 and as of 30 June 2018 has invested $21 million in 35 SMEs in Jordan, out of which $9 million was invested in 14 SMEs owned by or employing refugees. Over the next two years the Fund will deploy at least $5 million in additional capital such SMEs, which tend to be underserved by traditional lenders.

In addition to the financial investment, GroFin will also provide these SMEs with business support at pre-finance and post-finance stages, including helping to get the enterprises investment-ready and making connections to local and international business opportunities. In addition, GroFin will encourage all of the 50+ SMEs in its portfolio in Jordan to support refugees, either through employment or providing products and services to refugee communities.

The investments by the Nomou Jordan Fund have been made possible with the support of its investors including Shell Foundation, KFW, Lundin Foundation, UK Aid, GroFin Capital and the most recent commitment from the Open Society Foundations’ Soros Economic Development Fund.

GroFin CEO, Guido Boysen said:

“With this additional funding from the Open Society Foundations, Nomou Jordan Fund will be able to expand its reach and focus to make its investments in a more inclusive way, by improving livelihoods for Jordanians as well as members of the country’s substantial refugee population”

GroFin wins its category at the 2018 Finance for the Future Awards

GroFin is pleased to announce that it is the winner of the Finance for the Future Awards, in the Building Sustainable Financial Products category.

Finance for the Future Awards is run by ICAEW (Institute of Chartered Accountants in England and Wales) and A4S (The Prince’s Accounting for Sustainability Project) along with their partner Deloitte. The prestigious awards saw nominees, in the different categories, such as HSBC (UK), Coca Cola and Standard Bank Group amongst others.

With the Building Sustainable Financial Products category, the nominees competing with GroFin were the highly-recognised and highly-respected nominees, namely, Abundance Investment (UK), Environmental Finance (UK), QBE (Australia) and Yes Bank (India).

The award ceremony took place in London on the 16th of October and GroFin was represented by its CFO William Morkel who collected the award on behalf of the company.

“I would like to dedicate this award to our employees, as well as our clients and investors. It is testimony to the collective effort we undertake here at GroFin to bring about positive social and financial impact in the lives of the people we serve,” says Guido Boysen, GroFin CEO.

GroFin wins 2018 Finance for the Future Awards

Finance for the Future Awards is held every year and has six categories namely; Embedding an integrated approach, Innovative project, Communicating integrated thinking, Investing and financing, Building sustainable financial products and Driving change through education, training and academia.

About GroFin

GroFin is a pioneering private development financial institution specialising in financing and supporting small and growing businesses (SGBs) across Africa and the Middle East. We combine medium term loan capital and specialised business support to grow SGBs in emerging markets. By successfully combining medium term loans and specialised business support delivered through our local offices, we have invested in over 700 SMEs and sustained over 88,150 jobs across a wide spectrum of business activities within the 15 countries in Africa and Middle East that we operate in. GroFin has its headquarters located in Mauritius.

Media enquiries:

Sharmila Kowlessur (Chief Marketing Officer – GroFin) on +230 452 9156 , or email sharmila@grofin.com

Notes to editors:

ICAEW connects over 147,000 chartered accountants worldwide, providing this community of professionals with the power to build and sustain strong economies.

Training, developing and supporting accountants throughout their career, we ensure that they have the expertise and values to meet the needs of tomorrow’s businesses.

Our profession is right at the heart of the decisions that will define the future, and we contribute by sharing our knowledge, insight and capabilities with others. That way, we can be sure that we are building robust, accountable and fair economies across the globe.

ICAEW is a member of Chartered Accountants Worldwide (CAW), which brings together 11 chartered accountancy bodies, representing over 1.6m members and students globally.

The Prince’s Accounting for Sustainability Project (A4S)

The Prince’s Accounting for Sustainability Project (A4S) was established by HRH The Prince of Wales in 2004. Our aim is to make sustainable decision making business as usual.

We work with the finance and accounting community to:

  • Inspire finance leaders to adopt sustainable and resilient business models
  • Transform financial decision making to enable an integrated approach, reflective of the opportunities and risks posed by environmental and social issues
  • Scale up action across the global finance and accounting community

A4S has three global networks: the Chief Financial Officers Leadership Network, a group of CFOs from leading organizations seeking to transform finance and accounting; the Accounting Bodies Network whose members comprise approximately two thirds of the world’s accountants; and, the Asset Owners Network which brings together Pension Fund Chairs to integrate sustainability into investment.

www.accountingforsustainability.org

Deloitte

In this press release references to “Deloitte” are references to one or more of Deloitte Touche Tohmatsu Limited (“DTTL”) a UK private company limited by guarantee, and its network of member firms, each of which is a legally separate and independent entity. Please see deloitte.com/about for a detailed description of the legal structure of DTTL and its member firms.

Deloitte LLP is a subsidiary of Deloitte NWE LLP, which is a member firm of DTTL, and is among the UK’s leading professional services firms.

The information contained in this press release is correct at the time of going to press.

For more information, please visit www.deloitte.co.uk.