Dear Friends,
We are pleased to share that in 2024, we continued to advance SIMA’s mission by launching innovative, industry-leading funds, spearheading initiatives strengthening the impact investing ecosystem, and expanding our unique business model. We are committed to aligning business and impact goals and leveraging the potential of financial markets to drive sustainable, positive outcomes for the ultimate customers we serve.
Since launching SIMA in 2017, the portfolio companies in our Funds have cumulatively achieved the following estimated impacts:
- Financed energy access for an estimated 49.06 M people and 9.34 M households.
- Avoided an estimated 29.51 million metric tons of CO2 emissions.
- Supported an estimated 186,900+ jobs, including 66,600+ jobs for women.
- Deployed finance in 25 emerging markets, including 15 Least Developed Countries.
SIMA has cumulatively raised or disbursed more than $400 million and financed over 150 portfolio companies in Africa and Asia. As fund managers, we require portfolio companies to maintain high business standards and environmental, social, and gender management systems. We have also developed numeric scorecards and technical assistance to help companies incrementally improve environmental, social, and gender equity practices.
Some of the milestones we achieved in 2024 include the following:
- SIMA Commercial and Industrial Solar Green Bond B.V. (Green Bond): SIMA’s $154 M Green Bond is one of the largest of its kind in Africa, dedicated to financing small/ mid-sized African-based solar developers and projects. Moody’s assigned the highest grading as part of their independent opinion on the Bond’s contribution to sustainability.
- Decarbonization of Textile, Apparel & Footwear Suppliers (D-TAFS) Fund: SIMA is co-creating the $400 million D-TAFS Fund together with the International Finance Corporation (IFC). D-TAFS will reduce decarbonize suppliers in the TAF supply chain, and also reduce the toxicity of effluents and water pollution, improve labor standards, and provide technical assistance for women’s leadership.
- Asaan Ghar Finance Ltd (Asaan Ghar) Receives Pakistan SECP Certification: Asaan Ghar, an affordable mortgage fintech founded by SIMA, is Pakistan’s first Islamic home financing company to receive a Shariah Compliance Certificate from the Securities Exchange Commission of Pakistan. Asaan Ghar provides low/mid-income people with mortgage financing so they can afford to own their own home, and works to disrupt the Pakistan mortgage market, which doesn’t serve this group.
- Technical Assistance for Energy Access: In partnership with Global Affairs Canada, SIMA launched a program of Technical Assistance for energy access companies in Africa. The TA leverages SIMA’s relationships with 100+ energy access firms, and portfolio and risk management abilities to provide targeted support and develop practical tools and scorecards to help these companies incrementally improve their environmental, social, and gender performance.
- Title Risk Mitigating Affordable Mortgage (TRiMM) Fund: In 2024, SIMA structured the TRiMM Fund, with initial interest from development finance institutions. We believe that title risk is a secondary contingent risk—the risk is not relevant if there is no default. TRiMM is trying to prove this hypothesis and ultimately enable more home ownership, a critical element for achieving deep social impact.
- Association for Emerging Impact Investment Managers (AEIM): Founded by SIMA and 20+ impact investment managers worldwide to elevate the voices of smaller, innovative players in impact investing. A no-cost association, AEIM leadership rotates among members to promote inclusivity and diverse perspectives.
- Multi-Originator Securitization (MOSEC): SIMA is targeting MOSEC to be a $350 million first-of-a-kind, rated and listed evergreen securitization impact vehicle. MOSEC will offer attractive financial returns while supporting SMEs in off-grid solar, microfinance, affordable housing, and related sectors.
SIMA has built a reputation as a unique and forward-thinking impact asset manager with the capability to align business with social, environmental, and gender goals. We are proud to foster a company culture grounded in transparency (ensuring openness and honesty), logic (to drive informed decision making), fairness (to promote equitable outcomes), teamwork (to foster collaboration and synergy), and innovative entrepreneurship (to pioneer financing solutions that amplify our impact). We believe this approach leads to a shared success with investors, investees, and the ultimate customers we serve.
We’d like to express our gratitude to our investors, portfolio companies, partners, and stakeholders who continue to support SIMA’s mission of driving impactful change. Your support and encouragement are key to helping us achieve milestones and push boundaries in impact investing. Thank you for helping us make SIMA’s vision a reality.
With warm regards,
