Portfolio News - Portfolio Company Wins Nestlé "Shared Value" Prize 2014
On October 9th, Nestlé announced that Honey Care Africa, an East African fair trade honey company headquartered in Kenya and working with 35,000 farmers in South Sudan, won the company's Creating Shared Value Prize, from a pool of more than 700 candidates. The winner's prize, a grant of CHF 200K, rewards innovative businesses that create value for their communities by addressing issues of nutrition, water or rural development.
Madison Ayer, of Honey Care Africa, which seeks to help farmers become commercial beekeepers, said he was delighted with the win: "the Creating Shared Value Prize is such a wonderful recognition of the hard work and passion of our team, farmers and customers in Africa. And what is even more exciting is the opportunity to build a long-term relationship with Nestlé, as we leverage our sustainable local supply chain with Nestlé's global resources and expertise."
AlphaMundi first invested in Honey Care Africa in December 2012 through its SocialAlpha-Bastion debt fund. The Fund is represented on the company's board of directors, and converted part of its debt to equity in 2014.