In 2019 with the support of our corporate partners, we saw our investments have a catalytic effect in the communities in which we serve. These investments are helping entrepreneurs grow, mature, and scale their solutions into the future.
Our investments supported 703 small businesses which generated $55M in revenue, a 45% annual increase. These businesses supported 2,776 jobs and helped communities earn $9.6M USD in household income, a 51% increase from 2018. With our partners, we also supported 230 women-led businesses and helped launch 85 social and environmental innovations.
We invest in strategic training programs to assist members of local communities to obtain industry relevant skills and qualify for employment opportunities.
In 2019, our programs trained
545 people
in industry-relevant skills.
The programs graduated
370 people
93% graduation rate.
Nearly 70% of graduates were employed within 2 months.
We are proud to have supported small, growing businesses with financial investments and expertise. This has led to great successes in the communities in which we serve.
In 2019, we supported
384 small businesses
which generated $14.5M USD in revenue.
36%
of the supported business were led by women.
These businesses resulted in
local household earning $2.5M USD
in income.
Nearly
$1M USD in purchases
were made from local family-run farms.
Our investments in training and financing help local businesses become contract-ready making a significant impact on local supply chains.
We helped over
203 small businesses
become suppliers.
These suppliers secured
$14.5M USD
in commercial contracts with Lundin Group Companies and supported
1,495 jobs.
Our investments in supporting social and environmental businesses and incubator programs help unlock the entrepreneurial spirit and ingenuity of local communities. This has been essential to finding unique solutions to social and environmental challenges.
We trained
724 local entrepreneurs
and helped 85 social and environmental solutions get off the ground.
Over 65%
generated first revenue by the end of the program.
Supported businesses generated
$2.2M USD in revenue.
Our early investments leveraged
$8.4M USD
in follow-up funding.
Recognition
UN Global Compact Canada SDG Leadership Award
in partnership with Lundin Gold.
Green Virtue Award
Global Environment Fund and UN Environment Program.
Upstream Oil and Gas – Kenya
Nominated by International Finance Corporation.
Mining, Materials and the Sustainable Development Goals (SDGs) Book
Contributor to the chapter on UN SDG 4 – Quality Education.
Our Approach to Impact Management
In 2019, the Foundation implemented its impact management practices across all strategic initiatives, undertook post-program assessments, captured gender-disaggregated data and conducted its first mid-year impact review. The Foundation also supported corporate partners to adopt good practices in impact management for corporate community investments. The Foundation continues to identify how we can better define, measure and strengthen the impact of our work.