South African Social Development Innovation Shortlisted for Global Award

GreaterGood SA’s South African Social Investment Exchange (SASIX) is one of just three international finalists for the Global Development Network’s prestigious Most Innovative Development Project Award.

“We are thrilled that the innovation of SASIX, as a platform for meaningful social investment and development, is being recognised at a global level,” says Carol Tappenden, Managing Director of GreaterGood SA.

SASIX – www.sasix.co.za – is a South African process and technology platform which connects social investors with the development world. SASIX lists evaluated projects in priority development sectors for corporate and individual donors to invest in. The return on their investment is primarily social, rather than financial, but is nonetheless vital for South Africa’s future.

SASIX applies the same sort of assessment and due diligence consideration to projects as would be applied to financial investments and so helps to raise the bar for public, corporate and civil society participation in social development in South Africa. The Exchange also works to level the playing field by giving small, pioneering non profit organisations the same access to funds and capacity development as the better-known causes.

“When we created SASIX in June 2006,” continues Tappenden, “we wanted to move corporate and individual donors from a compliance mentality of ‘tick-box’ or ‘feel-good’ giving to a more strategic and measured approach to tackling the challenges we face in South Africa.” Since then, SASIX has had a great deal of success: R13.5 million has been invested in 53 social development projects from across the country.

The Most Innovative Development Project Award is part of the Global Development Network's Tenth Annual Global Development Conference to be held in Kuwait City, Kuwait, under the auspices of the Arab Fund for Economic and Social Development.

The success of the SASIX platform has generated a great deal of excitement and has led to the development of GSIX – the Global Social Investment Exchange. This will enable someone in Portugal to invest in assessed and evaluated development projects in Kenya or Mexico, for example. This global exchange, regulated by a federation of social exchanges and supported by in-depth intelligence from country exchanges, aims to create a more efficient and dynamic global development sector.

Notes to editors:
• SASIX is a social ‘stock exchange’ where carefully selected development projects are listed for people and companies to invest in. Projects range from helping communities to care for AIDS orphans in KwaZulu-Natal to business skills training for crafters on the fringes of the Kruger National Park – covering every major area of social development in the country. www.sasix.co.za
• GreaterGood South Africa brings good causes and committed givers together in meaningful and innovative ways to end poverty in South Africa. www.greatergoodsa.co.za
• The GDN Japanese Award for the Most Innovative Development Project is cash prize of US $30,000, given to the institution whose project embodies a fresh approach to an important development need and holds the greatest promise for benefiting the poor in developing and transition countries. http://opa.gdnet.org/
• For more information or photographs contact Roxy Mitchell, GreaterGood SA on (021) 794-0580.

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Date published: 
Monday, 19 January, 2009
Countries: 
Issued by: 
GreaterGood South Africa
Organisation: 
GreaterGood South Africa

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