AMP Foundation today announces it has awarded two A$1 million grants to not-for-profit organisations, First Australians Capital and Global Sisters, to mark the Foundation’s 30th anniversary.
Since its inception in 1992, AMP Foundation has invested more than $110 million into the Australian community to help organisations and individuals bring about positive change. These two significant investments are unique in that the AMP Foundation is investing in organisations that themselves are designed to support social enterprises.
First Australians Capital is a national Indigenous-led organisation that builds investment readiness and designs the right capital solutions for Indigenous businesses to thrive. It offers a variety of financial products to enable Indigenous entrepreneurs to grow and scale.
The AMP Foundation’s relationship with First Australian’s Capital started in 2014 when Adrian Appo was selected as an AMP Foundation Tomorrow Maker. Since then it has supported more than 201 Indigenous businesses across the arts, construction, recreation, retail, and professional services sectors.
Global Sisters supports women to achieve financial independence by creating and running a successful micro business. It also works at the systems change level to enable the achievement of long-term economic security for these women by removing systemic and structural roadblocks.
The AMP Foundation’s partnership with Global Sisters started in 2016, enabling Global Sisters to create a scalable model that improves accessibility for women experiencing barriers to economic participation, meaning more women can generate an income and improve their long-term economic security.
Nicola Stokes, AMP Foundation General Manager, said:
“We are immensely proud the AMP Foundation is providing grants to First Australians Capital and Global Sisters, two organisations that provide meaningful and lasting change to those they help, and that strive to build financial wellbeing for those in our communities who require support.
“Both organisations have long associations with the AMP Foundation through our Tomorrow Makers program, which supported their growth into the organisations they are today. We’re confident these new grants will help them further expand the important work they do in the Australian community.
“The grants are another milestone in the AMP Foundation’s legacy, which since its establishment in 1992 has helped change the lives of countless Australians through its Tomorrow Makers program.
“The Foundation is also a continuation of AMP’s long philanthropic history, which, in 1848 was established to create a private social security system amid the challenging social and working conditions at the time.”
Leah Armstrong, First Australians Capital Chairperson and Managing Director, said:
“This is an important milestone for First Nations equity and self-determination.
“The grant enables First Australians Capital to hold equity in the first Indigenous-led and managed Impact Investment Platform, addressing financial exclusion and racial justice.
“First Australians Capital’s impact-first investing backs the creative, cultural and economic strengths of First Australians businesses to become powerful contributors to a new economy.”
Mandy Richards, Founder and CEO of Global Sisters, said:
“We are incredibly grateful for our longstanding partnership with AMP Foundation.
“With their generous support, we will make a profound difference to 300 single mothers and their children – by providing a pathway to financial independence through self-employment.
“It will also help us create the evidence base for lasting systemic change to the welfare system – so that all single mothers who find themselves trapped by their circumstance and on Government benefits, have an alternate and viable future available.”
About the AMP Foundation
As the philanthropic arm of AMP, the AMP Foundation is one of Australia's oldest and largest independently funded corporate foundations. It is dedicated to investing in the wellbeing of individuals, families, communities, and society, with a mission to inspire and empower others to join in making a positive impact in their communities.
The AMP Foundation’s Tomorrow Makers program has awarded grants to 354 Australians and organisations, referred to as Tomorrow Makers. The program is designed to support and empower aspiring social entrepreneurs by providing the support and resources needed to bring ideas to life. Tomorrow Makers have created sustainable and innovative solutions to address a wide range of challenging social and environmental issues.
