We are indeed happy and proud to announce that we now have another international social investor – Grassroots Business Fund.
GBF is a US-based organization with a mission to build and support high-impact businesses that provide sustainable economic opportunities to the bottom-of-the-pyramid. They are backed by International Finance Corporation (a member of the World Bank Group), and also have funding commitments from Netherlands Development Finance Company, funding organizations, and angel investors.
GBF is providing Servals with a funding to primarily scale up and increase our geographic presence in the kerosene burner market, strengthen our NGO distribution channel and launch our new TLUD biomass stove.
Through Servals, GBF has an opportunity to make a comprehensive social impact in five areas: rural employment, micro-entrepreneurship, cost savings to consumers, health preservation by reducing indoor air pollution, and positive environmental impact through carbon reduction.
We certainly believe that GBF’s involvement will help enhance our commercial and social impact and we hope to benefit through GBF’s excellent financial and technical assistance services.
Read their press release here