FWF – The Future of Work Fund
Sustainable Development Goals (SDGs) targeted
Description of the Project
Promoted by Chancen International (CI), the Future of Work Fund (FWF) is an innovative blended finance vehicle that combines catalytic equity, impact debt, and stakeholder investments to prove that a fair, ethical student finance solution can truly serve marginalised youth as well as function sustainably across regions in Sub-Saharan Africa.
The FWF intends to serve as an impact orientated refinancing vehicle of loans, specifically using the Income Share Agreement (ISA) model to finance tuition fees for excluded youth in partnership with selected higher education institutions.
Using the ISA financial instrument tested by Chancen over 25 years, the FWF aims to create a paradigm shift in education to employment across the continent. The fund will provide student financing for 10.000 youths, with a specific focus on women and other traditionally excluded populations in Rwanda, South Africa and Kenya.
The Future of Work Fund is domiciled with the Kigali International Financial Centre and has an initial target of USD 21M. The first close of the fund has been reached in May 2022 with commitments from UBS Optimus Foundation, U.S. International Development Finance Corporation, Klett Group, Kaizenvest, Ceniarth and Cassiopeia.
Innpact has supported Chancen International in the design, structuring and launch of the Future of Work Fund.
- Name: ZAMUKA Future of Work Fund PLC
- Inception: May 2022
- Domicile: Rwanda
- Initiator: Chancen International
- Advisor: CHANCEN International Rwanda Ltd
- Sector: Education
- Geographic Focus: Rwanda, Kenya, South Africa
- Target investees and end‐beneficiaries: marginalised youth in Sub-Saharan Africa
- Financial Instruments: Income Share Agreement
- Type: Investment company
- Info: https://chancen.international/?page_id=2049
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