MEDA in the News

Thousands attend MEDA's World Night Market

By Hope McKeever

Photos: Nate Bergey

Globally, markets serve as the epi-center of economic and social involvement. Likewise, with outdoor farmer’s markets, Pennsylvania is no stranger to a market model of community building and agricultural emphasis. From spicy Mexican enchiladas to sweet chocolate truffles from Ukraine, many countries have traditions that make their market experience unique. Market place goods are often linked to the economic and social atmosphere of a country. MEDA saw this as the perfect vehicle to raise awareness about our important work and support the creation of opportunities for people living in poverty.
Congolese DancersCongolese Worship Band from the Evangelical Center

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Face to face: Mentoring an emerging fund manager

Source: "Face to Face: Mentoring an Emerging Fund Manager" by Melwin Dcosta in the summer 2015 issue of The ILPA News

In emerging economies, SMEs play a pivotal role in driving sustainable economic growth and employment. However, "access to capital" has been identified as one of these SME's key obstacles to growth. Venture capital and private equity funds in these economies that invest in local SMEs can play a critical role in bridging investible capital with opportunities in their market.

First-time fund managers face many challenges that prevent them from fully participating in the global sector, most problematic being able to overcome the stigma of being labeled a first time fund and convincing investors beyond home borders of the investment-worthiness of their funds. Funds without an established track record have a tough time making a strong case for international investors.

Structured mentorship is a critical mechanism for imparting knowledge and for exploring ways to build the confidence of institutional investors in a fund manager. Enlightened fund managers are very interested in opportunities to test their fund strategies and plans with a mentor who can be an external and unbiased resource. Fund managers benefit from having an unbiased sounding board for their investment pitches and fund messaging, as well as to review their own fund investment processes and governance. They benefit from having an expert viewpoint on how best to navigate the processes set by investors. Mentors are fund managers who have already travelled down the path the mentee has only just begun. Mentors with extensive sector experience can easily pick out chinks in a fund and point out misalignments, bringing a valued investor perspective. Mentors serve as a strategic sounding board for business and investment strategies and help shape plans.

Key Areas of MentorshipIn 2013, the Government of Canada, through Global Affairs Canada (GAC), supported the formation of a unique program called Impact Investing in Frontier Markets (INFRONT) to support sustainable development in frontier and emerging markets. Through the initiative, the Government of Canada made a $14.5 million investment commitment and also provided $5 million to launch both a Sustainability Innovation Grant (SIG) and a mentorship program. The INFRONT Global Fund Manager Mentorship Program is an innovative pubic-private partnership between three Canadian organizations – Mennonite Economic Development Associates (MEDA), Sarona Asset Management and the MaRS Centre for Impact Investing – and the Government of Canada. It matches seasoned North American venture capital and/or private equity managers as mentors with high-potential private equity fund managers based in frontier and emerging markets.

In the year since the launch of the program, interest in this mentorship opportunity has come from Guatemala, Mexico, Sao Paolo, Nairobi, Phnom Penh, Nepal, Mumbai, Colombo and Poland. While the contributed value varies from fund to fund, value from the mentorship opportunity is aways connected with needs of the fund, and matching those needs with a mentor's experience. By giving back to the industry, mentors are contributing to the long­-term sustainability of the asset class.

The INFRONT Global Fund Manager Mentorship Program has built a roster of mentors with a wide array of experiences and skills, and it plans to add to this roster in 2015. Mentors are seasoned private equity and venture capital professionals based in the United States or Canada who have over 10 years of experience managing their own funds in North America and preferably with experience raising capital. The program covers all of the mentors' travel costs.

How Libya's Savvy Women Entrepreneurs Are Building Businesses Amid Conflict

A Canadian nonprofit teams up with D2L to train women founders in Libya and beyond

By Ainsley O'Connell (@ainsleyoc)

Originally published in Fast Company

 Welcome to Libya, where life goes on amid political and economic turmoil.

"You might be standing on your balcony enjoying the view and—bam!—hear this explosion, but it’s not always like that," says entrepreneur Amal Delawi, a cancer survivor and working mom who lives in Tripoli. Following the 2011 revolution, which toppled longtime leader Muammar Gaddafi, and her cancer treatment, which required travel to Egypt, she was broke and unemployed.

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Ghana: Simple Technology Offers Rural Communities A Route Out Of Fragility

Source: Posted by author Pete Guest on Forbes.com. View original artical here.

Thunder is rolling over the horizon at the start of the rainy season in Suke, a small village in Ghana’s arid north.

Suke is remote, a two hour drive from Wa, the nearest major town. One major road closed for repairs creates a ninety minute diversion along dirt tracks that have collapsed into ditches, some of them barely passable by four-by-four or motorbike.

The village’s women gather in a semicircle in the shadow of a large tree to demonstrate their Talking Books—coloured plastic boxes with 10 buttons, all marked with basic symbols, which they hope could provide a lever to mitigate the fragility of their rural livelihoods and help them to achieve the social and economic empowerment that many women in the region lack.

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Biking across Canada to support women

Source: "Biking across Canada to support women" by Barry Bergen for the Canadian Mennonite

Two young Canadian women, Mary Fehr and Sarah French plan to spend the summer riding their bikes across the country to raise funds for the Mennonite Economic Development Associates (MEDA) Greater Rural Opportunities for Women (GROW) project in Ghana. The two spent more than six months as MEDA interns, Fehr in Tanzania, and French in Nicaragua.

After a year of planning, the 8,710-kilometre ride from Victoria, B.C. to St. John's, Nfld. begins this month. "Neither of us are bikers," Fehr says with a smile, "so we are learning some things about it this year." They hope to average about a hundred kilometres per day and without a support vehicle. Their budget of $8,000 each – which they worked to save this past year – includes ferry fees, the occasional night in a motel and plane tickets from St. John's to Waterloo, Ont., at the conclusion of the summer.

They plan to stop at every MEDA chapter along the way, challenging each chapter to raise $10,000. They also hope to share stories about the GROW program and personal reflections on their time as interns. They hope to inspire a new generation of young adults to become involved in development issues. MEDA's GROW project helps rural women in Ghana to grow soybeans. Through the formation of co-operatives, rural women negotiate a better price in the market.

When Fehr and French finish their summer ride for GROW, they both hope to find work in the field of international development.