Our Partnership with Impacc: Supporting Startups in Africa
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Germany is a good country for budding entrepreneurs who want to get their ideas off the ground. With the right attitude and persistence, it’s an achievable goal to secure the funds you need for your business.
This is unfortunately not the case everywhere. Many countries lack the economic stability and resources required for new businesses to make their starts and this is especially true in many African countries. In addition to the unstable economy, most of their available resources are put into developing the infrastructure, leaving little to go to ambitious new founders with great ideas.
We want to do what we can to help change this. Through Penta’s referral programme, you can donate your reward for recommending another business to us and the money goes to our new partner Impacc. The money you donate will be used to support innovative green and sustainable startups in Africa. Read on to find out more.
“We are impatient optimists determined to make the tools of business work for social change.” That’s how Impacc describes itself and its business model.
Since 2019, this Hamburg-based gGmbH has shown invaluable optimism and drive by tasking itself with financially supporting green startups in Africa. Raising capital through donations, Impacc is the only non-profit organisation in Germany that can convert the donations into company equity investments. These companies then use the investments to create sustainable jobs in areas of extreme poverty.
Impacc’s long term goal is to create a network of supporters and supported parties, together exchanging valuable knowledge and experience. They are, as they put it, ‘From founders for founders’.
Impacc has since expanded beyond Hamburg and now has offices in Nairobi, Kenya, and Ethiopian capital Addis Ababa. They also support nine ventures in Kenya, Uganda, Ethiopia and Ghana. Supported by the German government (through GIZ), Impacc is also backed by the Siemens Foundation for World Population, the SOS-Kinderdorf e.V., the German Foundation for World Population, while also receiving various private and corporate donations. In October 2020, Impacc emerged as a winner from the BCG Digital Ventures Social Venture Programme.
The trouble with classic donations
Classic donations refer to ones used to launch or support social or sustainable aid projects.
Once the financial resources have run out, the project is likely to end and the aid organisation must turn to another task: seeking more money, often in the same place. What this means is that classic donations are ultimately a short term solution. They don’t secure much in the way of long term stability.
Did you know?
The Impacc Approach: Donating with Impact
Impacc’s team is aware of the limits of single donations. That’s why they go one step further.
Impacc invests the donations they receive into socially and environmentally sustainable local businesses. This way, these businesses generate benefits both for themselves and for the communities. Impacc’s investments are therefore not short term–they have a bigger chance of ensuring that startups in Africa have the means to support themselves and improve the economy overall.
In their own words: “We start the engine of development – and make sure it keeps running.”
How does Penta’s referral donation programme work?
We want to help support Impacc’s admirable mission and raise awareness of what they do. To ensure we do this, we’ve established a collaboration, one which is tied closely to our referral programme.
Referrals for the good cause
Customers who recommend Penta to a friend, colleague, or relative would previously receive up to €100 as a cash reward or Amazon voucher.
We now offer another charity option besides; Anyone who refers Penta will be able to donate their reward to startups in Africa via Impacc. Should you choose this option, your reward will, instead of being transferred to your account, be collected by Penta and donated to Impacc. Through that, your money can truly have added value for a good cause.
How can I donate my reward?
Participate in Penta’s referral programme and donate by following these six steps:
- Log into your Penta Account and find ‘Refer a business’ from the menu on the left.
- In the following overview you will find your personal referral code, which you can copy and then send via email or WhatsApp or share directly via various social networks.
- Once your referred person has created a Penta account, you will receive a confirmation email from us.
- Clicking the button in the email will take you back to the referral page in the Penta App, where you can now choose your form of reward.
- To do this, click on ‘Select reward‘ and select ‘Donation‘.
- Once you have made your selection, a pop-up window will open confirming that we will retain your reward and transfer it to Impacc as a donation. Shortly after, you will also receive a confirmation email.
The perspective: What does Impacc have planned for the future?
In addition to Impacc’s major contributions to the sustainable startup scene in Africa, they have more initiatives in the pipeline.
The non-profit Hamburg GmbH plans to set up a crowdfunding platform designed to improve the framework for interactions between European and African companies, benefiting the scene and communities even more.
Impacc will also introduce a matching platform which will ensure that the growth of the startups is more transparent for everyone involved.
We’re proud to be working alongside Impacc and together promoting fair opportunities for all. We at Penta want to be true to Impacc’s motto: ‘By founders for founders’.
Did you know…
Penta aims to make its processes more climate-friendly step by step through internal reduction measures.