Throughout 2024, AGC sustained momentum promoting financial inclusion for SMEs, focusing on regions where having a lasting impact encouraged their local communities to thrive. Each month, our stories not only positioned the spotlight on how our partners provide flexible funding to their SME clients, but also how these relationships enable small businesses to build confidence, innovate and grow. Over time, as we met with our partners and SMEs during on-the-ground visits, AGC gained insight into the tough market conditions SMEs must navigate – including the reality that, despite varying contexts, SMEs worldwide face the same hurdle: limited access to capital.
In addition to impact stories showcasing AGC’s continuing mission, we were honoured to receive 2024 Emeritus status by Impact Assets 50. This reinforced how we have consistently aligned our mission to the goals of impact investing. For more information, visit the update here. Building on these acknowledgements, our participation in research and pilot tests – conducted in partnership with institutions like 2x Global, Sagana, the Impact Evaluation Lab, and Sorenson Impact Institute – further demonstrated our commitment to participating in the wider ecosystem of impact investing. We were involved in IEL’s Impact Authenticity Score pilot test and 2x and Sagana’s Project Catalyst report which focused on gender-lens investing in private markets.
AGC started the year strong by partnering with award-winning UK-based media company, ITN, to discuss why social impact is at the heart of our investment strategy. This partnership kicked off our efforts for the year, which continued with our annual offsite program, where our South Africa and London offices convened in Istanbul to align on targets and goals. We later highlighted new impact stories from Uganda and Romania, detailing key challenges and triumphs within the agricultural and finance sectors. During this time, we were also welcomed as a new member by Mission Investors Exchange and began our circuit of making connections at in-person events like Phenix Capital Impact Summit Europe and the Women in Social Finance Retreat.
“We have our own distribution and commercial segment to produce orders for supermarkets” – Kiril Anchevski (Food Bar, North Macedonia)
“Now the process is smooth. I send them [AGC’s partner] the invoices for approval, and they approve them. Factoring empowers me as well.’’ – Andrea (DC Tax, Romania)
By the summer of 2024, we had published our 7th Annual Impact Report, the capstone document highlighting the meaningful support we’ve provided to communities worldwide. Our report was complemented by in-depth explorations of SME successes in Uganda such as Hola Milk and Food Bar in North Macedonia, showcasing the tangible impact of our work.
In the third quarter, we covered key insights on gender-lens investing, the resilience of SMEs and the dairy sector, highlighting River Cheese as a notable example. We next assessed our progress in enabling small businesses to become economic drivers and the impact creating access to capital has had on fighting gender barriers to help foster more economic resilience.
“You need some other element that gives you a path. So, the advice is amazing, and we have found a helping hand in how to focus our growth and organize.’’
– Catalina Velasquez (River Cheese, Colombia)
“AGC’s partner has come in and they’ve been a very big help.” – Ssabiti Eric (Classic Cuts, Uganda)
The final months of 2024 proved to be our most pivotal in the thought leadership space and amplified presence at conferences around the globe. In addition to this period bringing forward opportunities to collaborate with esteemed impact institutions, our conference attendance took us around the world, spreading awareness about AGC’s mission and work. Highlights included the 2x Global Annual Member’s Meeting in Kenya, GIIN Impact Forum, AFSIC, SOCAP 2024 and Intentional Endowment Network’s 10-Year Anniversary Gala, among numerous other events that showcased our commitment to putting capital to work. As we look to the future, keep up to date with us here as we continue to provide flexible working capital to SMEs globally and throughout the year ahead.
