The National Lotteries Commission (NLC) is hosting its two day bi-annual Stakeholder Indaba on 21 to 22 September 2017.
The session aims to discuss ways in which funding can be of impact. Hence this year’s Indaba will carry the theme Funding for Impact.
With South Africa’s economy under strain, creating jobs for the 27% of the unemployed working population will be challenging in 2017/18 to say the least.
“Yet this is a goal that should be occupying the finest minds in the country – from government to civil society to the private sector,” says Thabang Charlotte Mampane, National Lotteries Commission Commissioner.
This is a challenge that South Africa is tentatively engaging with at various levels. “South Africa faces a rich savings base which can be invested in responsibly order to achieve positive returns that will benefit us directly and cause impact both strategically and on the ground,” she says.
“Our funding models plug directly into the government’s initiatives that address social setbacks such as job creation, poverty alleviation and lack of education,” she adds.
According to Mampane, impact is becoming an in-word and companies are capitalising on it in their corporate social investment strategies.
“However, many companies pay lip service to the practice as there are only a handful of industry leaders able to demonstrate consistent impactful business practices,” she explains.
“We plan to put in place measurable impact to track every project financed through The National Lotteries Commission,” she cites.
“Although there seems to be increasing interest in impact funding in South Africa, it is clear that some challenges remain especially around understanding and assessment,” she says.
Mampane concludes that investors need to shift from chasing short-term gains to pursuing long term results and that is how we can change our nation for good.