The Damascus Foundation invests a significant proportion of Damascus Capital’s profits in sustainable philanthropy projects. The key objective is to apply our investment rigor to making a dent in Uganda’s fight against poverty, focusing on impact, empowerment and co-investment with larger foundations.
The Damascus Foundation seeks to advance sustainable development in Uganda through investment in sustainable, high-impact social initiatives. The Foundation adopts Damascus Capital’s for-profit mindset of return-driven investment, seeding and managing projects that not only have very high impact but that also propel and propagate sustained long-term (often generational) change in the family, community, and ultimately, the nation.
As an investor in social causes, the Foundation pursues high impact as ferociously as Damascus Capital pursues high return, with a strategic focus on 3 areas that embody the aforementioned long-term, trajectory-changing impact:
1. Educational Opportunity
With the world’s second youngest population, Uganda’s future brims with potential, but potential that needs to be harnessed and groomed through top-calibre, globally-competitive education. With much of the Damascus team themselves as examples of how education can propel one and one’s family from poverty to global prominence, the Foundation is strongly committed to education investment as the key element in creating catalysts in our communities and lifting Uganda out of the vicious cycle of poverty. Our current initiatives in the education space include:
- Providing transformational global opportunities and scholarships for gifted students (EdVentures)
- Advancing higher education access and success
- Promoting self-sustenance and improving outcomes in under-funded government schools
In any economy, entrepreneurship is the single most powerful catalyst for sustainable growth. At Damascus we believe that a single individual, a single idea or a single small business can result in millions of dollars in revenue and in GDP, not to mention thousands of jobs. In its efforts to curb unemployment while boosting financial freedom and propelling economic growth, the Foundation focuses on:
- Initiating small businesses for the uneducated and underprivileged, in order for them to break free from the poverty cycle and create employment
- Mentoring and incubating small business entrepreneurs, providing free business training and market access though our network
3. Children’s Welfare
The Foundation’s belief is that laying the foundation for the future demands giving children the best possible start in life. With 49% of Uganda’s population under 15, the centrality of children in the script of Uganda’s future and the need to ensure their protection and strength of their foundation cannot be overstated. Our current initiatives in this focus area are centered on:
- Advancing advocacy and promoting rights for children and other vulnerable groups
- Supporting sustainability of programs and projects for orphaned, abandoned and critically ill children