Summary & Notices
Summary of the Offering
- Vita is seeking to implement an innovative investment strategy, being commercially-focused but simultaneously seeking to provide Investors with social benefits and climate impact as well as the potential for a financial return.
- The Loan Programme will be “closed-ended” and illiquid in nature and will initially target €1.5 million of third-party investment. Separately, Vita will contribute €500,000 to the Investment Programme, such amount to be returned to Vita only if there is a cash surplus at the end of the Term.
- Vita anticipates that, through implementation of the Investment Programme, Vita will:
- provide an estimated 200,000 people in rural Ethiopia and Eritrea with sustainable cooking and lighting energy and clean water supply;
- produce verified carbon emission reductions of 420,000 tonnes annually through the use of low-carbon energy technologies; andtrade the resulting carbon credits in the Voluntary Carbon
- Market enabling repayment of the Loans in full plus an
amount equal to 10% of the Loan.
- Vita is based in Ireland but also has branch offices in Ethiopia and Eritrea in order to facilitate work with local partners to deliver energy and water services to rural communities.
- Vita was founded in 1990 and is an international development agency operating in East Africa and specializing in sustainable livelihoods. Vita uses a community-led development approach to food, water and energy security in rural communities, supported by world class knowledge and research. It’s programmes are supported by the European Union, the Irish Government, the Gates Foundation and various donors including the US, Australian, Japanese and Italian governments.
- Vita will seek to deliver value for money by minimising leakage to commercial interests.
- The 2016-2030 global Sustainable Development Goals launched in New York in 2015 and the 2015 COP21 climate talks in Paris have declared the world’s intent to tackle the interlinked global issues of climate change, poverty and social justice.
- The Investment Programme has been devised in pursuit of these objectives as a social impact investment programme with a sustainable financing model which seeks to encourage development in Africa to fight poverty and climate change.
- It is currently intended that a second loan programme or similar targeting investment of €20 million will be raised in order to scale up energy and water provision to four million people in rural Africa. It is envisaged that this second venture would act as a platform for the creation of partnerships with development agencies in a broader range of countries, providing the capital and expertise to extend the social impact.
Notices of the Offering
This memorandum (this “Memorandum”) contains forward looking statements that involve risks and uncertainties. We use words such as “anticipates,” “believes,” “plans,” “expects,” “future,” “intends,” “seeks,” and similar expressions to identify such forward looking statements. You should not place undue reliance on these forward looking statements. The Investment Programme’s actual results could differ materially from those anticipated in these forward looking statements for many reasons, including but not limited to the risks described in the section of this Memorandum entitled “Risk Factors”.
Entry into a Loan Agreement is not a donation to the Loan Programme and is not tax deductible. Interest paid on a Loan is taxable.
You should not rely on this Memorandum for investment, legal, accounting advice. You should consult your own professional advisors before entering into a Loan Agreement. Please consult your tax adviser for information specific to your circumstances (as well as referring to the section of this Memorandum entitled “Tax Aspects”).
It is anticipated that Investors will be persons who wish to align their investments with their values of environmental sustainability and social responsibility.
INVESTMENT IN THE LOAN PROGRAMME IS SUBJECT TO CERTAIN RISKS, AND YOU SHOULD NOT INVEST IN THE LOAN PROGRAMME IF YOU CANNOT AFFORD TO LOSE THE PRINCIPAL AMOUNT OR IF YOU NEED LIQUIDITY (SEE THE SECTION OF THIS MEMORANDUM ENTITLED “RISK FACTORS”). THERE IS NO GUARANTEE OF A RETURN ON OR OF YOUR INVESTMENT.
To invest in the Loan Programme, please complete the attached Application Form and mail to:
Vita (RTI) Limited
16-17 Upper Ormond Quay
Dublin 7. Ireland