We believe, as a partnership with strong personal connections to Africa, that long-term, sustainable development in Africa is best served by supporting the economic self-sufficiency and well-being of its peoples. By financing the growth of enterprises that increase job creation, productivity, skills transfer and wages in Africa, 46 Parallels is committed to supporting meaningful economic growth and development across a number of sectors and segments of society.
By channelling this growth capital into the hands of local businesses, we believe we can help stimulate economic competitiveness from the ground up that will achieve our longer-term vision for a self-sufficient Africa. Equally important to our vision is achieving sustained economic growth that is not only profitable, but is also environmentally responsible and socially relevant. We believe this approach is good for business and, ultimately, good for Africa.
As part of our commitment, the partners of 46 Parallels will use 10% of their performance fees to fund projects that promote social, economic and cultural development in Sub-Saharan Africa. These projects will be selected by the partners, with input from the Advisory Committee and the Fund’s anchor investors.