Streams Capital-backed Manjeri Farm Enterprise wins international competition

The Manjeri School Project was awarded first prize and 2,000 euro cash at an international competition in Spain when featuring the performance driven variable interest rate impact loan provided by Streams Capital.

The Social Impact Forum 'What Is Out There' competition was run by the IE Business school in Madrid, Spain. The competition saw the finalist start up impact organisations from all over the world convening to pitch to a judging panel of private equity, impact investing, investment banking and development experts. The competition intended to explore what mechanisms are working around the world to create great social outcomes.

Each finalist had 30 mins to pitch their unique capital structure for their impact project. The Manjeri School Project explained the performance driven variable interest rate impact loan made by Streams Capital into their 15 acre mixed farm enterprise. The loan facility is unique in the way the social outcomes of the farm I.e school kitchen supply is used in the measurement of success of the loan.

Of the 46 competition entrants, 6 finalists were selected and flown to Madrid for the 2 day impact event to pitch for the final 2000 euro cash prize.

The Manjeri School Project was able to take out the first prize and secure some additional funding for the mixed farm project. Nick Harrington who was pitching the investment and the project was able to link up with relevant players including the Islamic Development Bank, the Rabobank Development team amongst a number of experienced impact investors.

Streams Capital invests in Manjeri

Streams Capital provides a UGX 25m loan to the Manjeri School Project. The loan will be used as working capital towards the commencement of the Erinah Manjeri Mixed Primary School Mixed Farm Enterprise. The loan carries a variable interest rate linked to the profitability and social impact of the enterprise. 

The Manjeri School Project is a Sydney based international development organisation that currently works in rural Uganda empowering communities through education and sustainable practices. The organisation operates a primary school which provides education to the poorest in the community and at the same time is developing local enterprises that support the school to be sustainable and independent. The organisation has a planned exit from the school once it is 100% sustainable.