Shared Interest 2008 Annual Report

This year, South Africa celebrates Youth Day, June 16, with new challenges, but also new optimism.  As I write, the global financial crisis is taking its toll on young people’s job opportunities – and also their dreams.  Families across the country struggle to feed, shelter and educate their children, and provide opportunities for them to thrive in a more equitable society. 
The beneficiaries of Shared Interest’s guarantees – who now number more than 1.800,000 black South Africans — are also on the front lines.  Across the country, they are grappling with food prices that soared last year.  Construction costs, which climbed with the price of fuel, have not declined significantly.  With rising unemployment, more youth are looking for jobs to contribute to their families’ income, and have to look harder.   Banks are increasingly reluctant to lend, and require more encouragement and enhancements than they did the year before.
In this climate, Shared Interest and Thembani are working flat out  – with no increase in staff – to unlock credit for small businesses, new homes and viable rural communities.  We continue to streamline our operations and collaborate with other organizations to supply South African microfinance institutions, cooperatives and community enterprises with access to capital and technical assistance. 
The hard-won results speak for themselves.  On the front cover of our  2008 Annual Report, you will see a story that will not make the front page of tomorrow’s newspapers:  Two former school principals, Phildah Modjadji and Salome Mondlane, display the Female Farmer of the Year award.  They won the honor for their leadership of the fruit and vegetable growing and dehydration project, Diretsogetse, whose name was chosen by their former pupils — the community’s youth.  It means “opportunities have come up for us.”
We invite you to celebrate the victories you have helped us win during 2008. 
This year more than ever, we look forward to your continuing partnership and support.  As Nelson Mandela reminds us:
 

      Like slavery and apartheid, poverty is not natural.  It is people who have made poverty and tolerated poverty, and it is people who will overcome it.

Donna Katzin

Executive Director

 Shared Interest 2008 Annual Report

WHAT:  Shared Interest, a leading New York-based non-profit social investment fund, will honor Her Excellency Graça Machel, Founder and President of the Foundation for Community Development for Mozambique and Former First Lady of Mozambique and South Africa, at its 15th annual awards gala on March 30 in New York City.  H.E. Graça Machel will be honored for her courageous defense of the rights of Southern Africa’s women and children. A passionate social and political activist, Machel has worked for decades to strengthen communities and facilitate social and economic justice and development in southern Africa.

The awards dinner will also honor Dr. Price Cobbs, a world-renowned author, psychiatrist and President of Pacific Management Systems, a management consulting company. Dr. Cobbs, a member of the Shared Interest Board of Directors, will be recognized for his lifelong commitment to racial and economic justice in South Africa and the United States.
Johnson & Johnson Co. will receive the Corporate Award for the company’s significant efforts to build a new South Africa through its high ethical and philanthropic standards and support for the country’s emerging microentrepreneurs.
Distinguished U.S. and African leaders and top diplomats will gather for the annual event that recognizes leaders for their commitment and ongoing work towards economic democracy and development in the new South Africa. Shared Interest’s mission is to mobilize the resources for South Africa’s economically disenfranchised communities to sustain themselves and build an equitable nation. Since Shared Interest began in 1994, its loan guarantees and technical support have benefited more than 1.5 million black South Africans – the majority of them women.
The evening performance will feature recording artist Nathi Gcabashe and the South African All Star Band. Michelle Miller, CBS News correspondent, will serve as the gala emcee. This year’s major corporate sponsors are Johnson & Johnson, MTV Networks, and The Nielsen Company.
WHEN:                 Monday, March 30, 2009 - 6:00 PM - Cocktail Reception
                              7:00 PM - Awards Dinner
 
WHERE:               Tavern on the Green, Central Park West, 67th St., New York City 
 
HONOREES:       H.E. Graça Machel, Founder and President of the Foundation for Community Development for Mozambique and Former First Lady of Mozambique and South Africa
 
Dr. Price Cobbs, world-renowned author and psychiatrist, President of Pacific Management Systems and member of the Shared Interest Board of Directors
 
Corporate Honoree - Johnson & Johnson
 
ABOUT SHARED INTEREST: Shared Interest, a leading New York-based non-profit social investment fund, envisions a just and vibrant South African economy that eliminates disparities and upholds the basic human rights enshrined in the constitution - a South African society that serves as a model of economic justice. It conducts its work in South Africa in conjunction with its partner, the Pretoria-based Thembani International Guarantee Fund.

CONTACT:  Shanta Bryant Gyan 646. 290.8211; shanta@sbgcommunications.com * www.sharedinterest.org