Business doing good
After a social enterprise called FoodPods appeared i n Finweek, it received just the i nvestment i njection it needed to scale into a major operation that will have a big impact on food security in Western Cape townships.
Peter Shrimpton is up to his elbows in compost. The impact investor is preparing crates to be planted with vegetables at a social business which he founded in Kayamandi, near Stellenbosch. Built during apartheid in the 1950s to keep black migrant labour off farms, the average household income in the township is about R2 400 a month. Census data shows that the employment rate for the area is at 51.5%.
Food security is an issue here, as it is in much of South Africa, a country where 14m people don’t know where their next
meal will come from. Shrimpton wants to change this, and that’s why he’s labouring with the community in Kayamandi, one of the four Cape-based FoodPods franchises that forms part of Heart Capital. Unlike other businesses that mostly pursue profit, Heart Capital funds sustainable projects for social and environmental good in townships.
Finweek f irst featured Shrimpton’s impact investment business in its 12 September 2013 issue, but a lot has