South African impact investor, E2 Investments (Pty) Ltd (“E2”) has just announced its investment of R4.6 million in Numeric, a non-profit social enterprise delivering after-school mathematics to thousands of learners in South African primary schools. E2’s investment will go towards sponsoring classrooms, building capacity within the organisation, as well as their potential expansion into other provinces. Over three years, this funding will enable 325 learners a year /975 children to complete the programme and develop a strong foundation in maths, thereby equipping them for life-long success.
This is E2’s first investment in the social entrepreneurship sector, in line with its mandate of supporting value-aligned social enterprises that create jobs and attack poverty. E2’s investment focus on social entrepreneurship runs parallel to its primary mandate of supporting Allan Gray Fellows to build and grow responsible, high-impact businesses. As the B-BBEE partner of Allan Gray (Pty) Ltd, E2’s investment focus is on businesses created by historically disadvantaged individuals and organisations that support historically disadvantaged communities in South Africa.
Numeric’s mission is to address the critical shortage of maths skills in South Africa.
“With just four out of every 100 children who enter our school system obtaining more than 50% for pure maths in matric, we are not producing the doctors, engineers, teachers, entrepreneurs etc. that we desperately need to build and grow our economy,” says Andrew Einhorn, managing director of Numeric.
“E2 is committed to playing an active and positive role in building a better South Africa,” says CEO Sawa Nakagawa. “Our role is to empower South Africa’s responsible entrepreneurs to unleash their high impact potential and enable them to build and scale high-impact organisations that will create jobs, address poverty and contribute to transformation in South Africa”.
Tackling Maths Crisis
The E2 grant announcement for Numeric comes shortly after the release of the 2017 matric results.
“A great many opportunities at tertiary level depend on learners obtaining a pass in pure mathematics in matric,” Einhorn says. “The fact that so few of these learners pass is a challenge for the country. These results can have devastating consequences for learners later on in life.
Results in Numbers
Numeric’s results are impressive. In 2017 the average Numeric learner’s maths results improved by 52% over the course of the year – more than double that of non-Numeric learners.
“Maths is a critical ingredient in building a prosperous and more equal South Africa,” Sawa adds. “E2 is looking forward to being part of Numeric’s entrepreneurial journey. Success is progressive and we look to see how we can help in their journey. Through partnering with Numeric, E2 aims to play an active role in building a better future for South Africans.”