eha Impact Ventures (EIV), a gender-lens impact investing venture, secured $50,000 from a USA Donor-Advised Fund (DAF) to support women entrepreneurs in Africa. This milestone marks the second funding received through a Donor-Advised Fund, a philanthropic vehicle that allows individuals, families, and organisations to make charitable contributions and recommend grants from the fund to specific charitable organisations.
This approach represents a new era in philanthropy, where donations are used to invest in socially impactful companies via vehicles like eha Impact Ventures. The returns from these investments are then reinvested into other impactful ventures, amplifying the impact of the initial donations through continuous reinvestment in various businesses.
eha Impact Ventures, renowned for its commitment to fostering female entrepreneurship in Africa, has long championed innovative financial avenues for social empowerment. This funding will support improved health outcomes for women, notably preventing the growing rate of cervical pre-cancer in African women.
Evelyn Castle, Co-Founder/CEO of EIV, commented on the significance of this donation and stressed that it is a more sustainable option than the traditional charity model. She adds, “It is pertinent that we use our creativity and local knowledge to grow impact and build better economic conditions in Africa”. “This generous contribution through the DAF method underscores a commitment to fostering inclusive prosperity and unlocking the full potential of women-led enterprises.”
This innovative funding approach exemplifies the evolving landscape of philanthropy and emphasises the power of strategic partnerships in driving meaningful change. By harnessing the DAF mechanism, EIV and its donors are pioneering a model of giving that transcends traditional boundaries, amplifying impact and increasing opportunities for women’s economic empowerment.