Letter from the CEO in regards to COVID-19
We are facing a global crisis of yet to be known magnitude due to the COVID-19 pandemic. It is challenging the fundamentals of how we live, including our health and our livelihoods, and affecting global and local economies. While we cannot foresee how long the situation will continue and how far it will spread, it is clear the challenges of the outbreak will be of greater consequence for countries and communities with more limited infrastructure, health services, social safety nets, and vulnerable people.
To date the public markets across the globe have been quickly and visibly affected, but for private markets and in the emerging markets we invest in, the effects of COVID-19 will be more latent and varied depending on the local circumstances. Over the years, studies have shown that investments in microfinance are less correlated with public markets, including during the global financial crisis of 2008. However, more than ever, we recognize the need to be nimble and ready for the needs of investees and end clients.
While special measures have been put in place to implement social distancing including remote work arrangements and restricted travel, we have also been in closer communication with our regional teams to better understand the effects on the ground. We have started outreach to our investees and will continue to collect facts as the circumstances of COVID-19 unfold.
It is too soon to tell what the longer effects will be as a result of the pandemic and the subsequent economic fallout. In these uncertain times, it is important to stand together, demonstrate mutual responsibility and shared action. As such, in the coming days we will be reaching out to other peers to open dialogue about a common approach to support investees.
In spite of the many unknown variables, as an impact focused investment manager, rest assured we are working to ensure the continued support to micro and small entrepreneurs remains as unaffected as possible. We will continue to update you as we collect more facts and relevant information.
Feel free to reach out to us if you have any questions, and we thank you for your continued support despite these challenging times.
On behalf of the Triple Jump team,
Steven Evers, CEO