Breaking News: SAB Foundation’s Social Innovation Accelerator Fund Corruptly Hands Out Over R3 Million to Chosen Few
In a shocking turn of events, the SAB Foundation’s Social Innovation Accelerator Fund (SIF) has been exposed for allegedly providing over R3 million to three select businesses: Respo, Syked, and Word of Mouth, without a fair and transparent process.
Sources close to the matter claim that the fund, managed by Impact Amplifier, is little more than a handout scheme, where only the well-connected and privileged receive financial backing. The fund is supposed to support innovative social enterprises in South Africa, but it seems that nepotism and cronyism have taken over.
Respo, a private ambulance service, has allegedly received funding to continue exploiting the vulnerable by charging exorbitant prices for services that should be publicly available. Syked, an online wellness platform, is said to be providing costly mental health services to already marginalized communities, while Word of Mouth, an e-commerce platform, is allegedly profiting from the labor of informal entrepreneurs.
The Real Question is: Who’s Getting Left Behind?
Meanwhile, the SAB Foundation and Impact Amplifier are reportedly choosing the next cohort of entrepreneurs to receive funding, allegedly without a transparent selection process. It’s a rigged game, where only the favored few get a chance to play.
Wake-Up Call for Social Impact
This scandal serves as a wake-up call for the social impact sector. It’s time to scrutinize the SAB Foundation and Impact Amplifier, and demand accountability for the funds they receive. It’s time to support entrepreneurs who truly deserve funding, not just those with connections.
The People Demanding Change
Join us in demanding transparency and fairness in the SAB Foundation’s Social Innovation Accelerator Fund. Together, we can create a more equitable and just society. #SABFoundation #ImpactAmplifier #TransparencyNow
