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New funding to grow jobs and work experiences for work-seekers

9th Sep 2019

LGT Venture Philanthropy provides a combination of philanthropic capital and strategic support; partnering with leading organizations, like Harmabee Youth Employment Accelerator, to scale their solutions to social challenges and amplify their impact.

Harambee is a not-for-profit social enterprise with extensive experience building solutions and innovations to tackle the youth unemployment challenge. It partners with businesses, governments, young people and many others who are committed to results that can work at scale. It has worked with over 500 African businesses to pathway youth into more than 125,000 jobs and work experiences. Harambee’s work was recently recognised with the 2019 Skoll Award for Social Entrepreneurship.

Marcia Parada, Investment Manager at LGT Venture Philanthropy said, “Harambee’s experience and track-record in designing effective solutions for unemployed youth positions them well to scale further and play an important role in addressing one of Africa’s most pressing social problems. Harambee is an important addition to our education portfolio in the focus area of vocational training & skills development. We are delighted to accompany them at this critical juncture in their journey.”

Harambee CEO Maryana Iskander added, “We are excited about this partnership with a like-minded social investor. LGT Venture Philanthropy will help us deepen our impact through both financial support and strategic backing, allowing us to expand pathways for youth to secure economic opportunity. These are the types of partnerships that make Harambee’s work tangible and sustainable.”

This press release was written by LGT Venture Philanthropy (LGT VP) for release on 7 September 2019.

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About LGT Venture Philanthropy: LGT Venture Philanthropy (LGT VP) is an independent charitable foundation striving to improve the quality of life of disadvantaged people, contribute to healthy ecosystems and build resilient, inclusive and prosperous communities. LGT VP deploys philanthropic growth capital to organizations with effective, innovative and scalable solutions to social and environmental challenges, thus directly contributing to the Sustainable Development Goals. The foundation primarily supports organizations based in emerging markets, focusing on high-impact sectors, including education, health and environmental protection and restoration. LGT VP is the venture philanthropy arm of LGT Group, a leading international private banking and asset management group that has been fully controlled by the Liechtenstein Princely Family for over 80 years.

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