On World Refugee Day, join us in celebrating resilience, as we explore the transformative power of investing in refugees and their host communities, driving integration, and building a more inclusive and prosperous future together.
Refugee Lens Investing: Empowering Refugees in Ethiopia
By Mariah Grubb | Tue Jun 20 2023
Celebrating World Refugee Day
Garment worker at a factory near Debre Birhan, Ethiopia. The factory serves international clients supports vulnerable women, including IDPs, refugees and disabled people through training, employment, housing and other benefits. Photo courtesy of Mariah Grubb.
Today is World Refugee Day, a day to celebrate the resilience and strength of refugees around the world. It is also a day to raise awareness of the challenges that refugees face and encourage commitment to supporting their long-term integration. Ethiopia is a country that has been welcoming refugees for centuries. While the exact numbers are challenging to ascertain, as of February 2023, Ethiopia was estimated to have 4.6 million internally displaced people (IDPs). Furthermore, according to UNHCR, there are 916,436 registered refugees in the country.
Refugees in Ethiopia face many challenges, including poverty, lack of access to education and healthcare, and discrimination. However, there are also many opportunities for refugees to rebuild their lives and contribute to their host communities. One way to support refugees is through refugee lens investing (RLI). RLI is a type of impact investing that focuses on investing in businesses that support both refugees and their host communities to enhance integration and improve the overall economic well-being of the community.
Additional information about the RLI framework and criteria can be found on the Refugee Investment Network’s (RIN) website. With Renew Capital’s signature ‘Invest+Impact’ model, we are constantly exploring new and innovative impact investment frameworks and models. This resulted in a recent collaboration with RIN to conduct a landscape analysis and develop a road map for RLI in Ethiopia.
Despite concerns that refugees are seen as burdens, Renew Capital's research supports the evidence that they bring significant benefits to host communities. Refugees are hardworking, committed individuals who bring new knowledge, skills, and dedication to the workforce. Integration of refugees fosters inclusive economic growth, cohesion, and stabilization. Cultural exchange and knowledge sharing enrich societies, promoting innovation, understanding, and tolerance.
On World Refugee Day, join us in learning more about refugee lens investing and how we can collectively create a more inclusive and prosperous world for all, where refugees are empowered to rebuild their lives and contribute to the growth and well-being of their host communities.