May 30, 2013
In a collaborative move to strengthen and standardize the impact investing sector, Nexii and Impact Investment Exchange Asia (IIX) are pleased to announce the transfer of Nexii’s role in Impact Exchange to IIX. With effect as from May 6 2013, IIX has taken over the cooperative management of Impact Exchange with the Stock Exchange of Mauritius (SEM). Impact Exchange aims at being a social stock exchange with significant global reach, from Africa to Asia, two regions in the most need of capital assistance for sustainable development.
Tamzin Ractliffe, founder of Nexii, said, “We are delighted at this integration, will continue to work with the SEM and IIX to ensure a smooth handover and transition, and are enthusiastic to watch Impact Exchange’s ascension to importance within the financial services industry over the next decade.”
Professor Durreen Shahnaz, Founder and Chairwoman of IIX, commented, “This partnership with the SEM to develop Impact Exchange is an important step in consolidating the interest from impact investors globally to two regions that have the most potential to impact millions of lives for the better.”
The Evolution of Impact Exchange
In 2006, the SEM successfully launched the Development and Enterprise Market to support medium-sized and growing business in Mauritius. Building upon its experience and recognition by Africa Investor (Ai) as Africa’s most innovative stock exchange in 2011 and 2012, the SEM partnered with Nexii to jointly develop the regulatory framework of Impact Exchange, collaboratively drafting listing rules that would cater towards impact investment opportunities. Impact Exchange aims at becoming a platform for the public to invest in and trade shares of social enterprises while assuring mission alignment to social and/or environmental impact. Impact Exchange is designed to be operated and regulated by the SEM. As Impact Exchange becomes operational, IIX will assume Nexii’s current role to oversee impact reporting requirements.
“Impact Exchange is a pioneering effort in democratizing access to investment information, market infrastructure and capital for both impact investors and social businesses or impact investment funds – a stepping stone towards achieving scale in the impact investment sector”, said the SEM’s CEO, Sunil Benimadhu.
Impact Exchange Moving Forward
IIX will work directly with the SEM to build upon the platform’s potential and work towards its launch in the future. Nexii will continue to support Impact Exchange by accrediting Authorised Impact Representatives through the Impact Trust, a move that will establish an independent qualification for intermediaries, with the intention of servicing social stock exchange initiatives globally.
IIX’s entry into Africa through the Impact Exchange relationship with the SEM is a strategic acquisition. “We are excited for this expansion of our footprint. IIX is currently raising capital through Impact Partners, its private placement platform impacting lives of thousands across Asia. With Impact Exchange, that impact can be multiplied to millions reaching both Africa and Asia. Impact Exchange will also allow for every citizen in this world to become an impact investor and part of the democratization of capital markets”, Shahnaz said.
“As Impact Exchange is a pioneering effort to use public markets for impact, we are excited to work with IIX given their track record of success connecting Social Enterprises to investment capital. We thank Nexii for their initiative and the passion they have brought to this project”, stated Benimadhu.
Interested Social Enterprises and investors can attend IIX’s annual Impact Forum, held in Singapore June 13-14, 2013 where more details of Impact Exchange’s operations will be unveiled. Registration and further information on the Forum can be found at www.impactforum.asia.
For further information on how to become an accredited Authorised Impact Representative, visit http://impacttrust.co.za/subscribe/ to sign-up for further information.
Nexii’s vision is of an inclusive, sustainable and ethical capital markets system that promotes prosperity for all and pays as much attention to issues of people and the planet as it does to issues of financial profit. Nexii is dedicated to building the impact investment market infrastructure and integrated intermediation services necessary to help businesses operating in sustainable sectors to raise capital and trade financial securities. For more information, please visit www.nexii.com
IIX is revolutionizing the way the world looks at sustainable economic development through the creation of social capital markets. It is operating investment platforms, developing products and ecosystems to connect socially and environmentally mission-driven enterprises with impact investors. IIX currently operates Impact Partners and Impact Incubator, two private placement platforms – the largest in the world in the impact investing space, offering social enterprises based in Asia Pacific a marketplace to raise private capital. IIX platforms have successfully raised pioneering investment capital for many social enterprises across the region. IIX’s sister entity Shujog focuses on doing impact assessments for social enterprises and plays a crucial role in the capital raising process. For more information, please visit www.asiaiix.com , www.impactpartners.asiaiix.com and www.shujog.org
Over the years, SEM has been at the forefront of innovation in the Exchange space in Africa, emerging as a reference Exchange on the African continent. SEM is today one of the leading frontier Exchanges and a full-fledged member of the World Federation of Exchanges (WFE).SEM is presently actively pursuing its internationalisation strategy, which is aimed at moving up the value-chain of products listed/traded on the SEM platform and setting the stage for the Exchange to gradually emerge as an attractive listing, trading and capital-raising platform offering international and multi-currency products. For more information, please visit www.stockexchangeofmauritius.com
About IMPACT TRUST:
The Impact Trust’s mission is to facilitate access to financial, intellectual and political capital for social and environmental solutions through research, impact finance product design, advocacy and education. It is also responsible for accrediting Authorised Impact Representatives, qualified firms and professionals in impact measurement, evaluation, and due diligence. Its work most recent includes developing a pilot for the first social impact bond in South Africa and research into stimulating SME and social business growth through taxation frameworks and legal structures. For more information, please visit www.impacttrust.co.za
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