A highlight for the team this year was an all-staff gathering in Siem Reap in Cambodia. We spent the week learning from each other, workshopping new ideas and ultimately establishing the basis for our new strategy for 2025-2028. 

The period has also been a time of transition, with our legacy microloan program closing after 15 years of operation, providing critical funding to over 12,000 small businesses in our region. This has made way for the launch of our second Impact Investment Fund, which continues to help finance small businesses in our region, and comes on the heels of several major awards for our first fund. 

Another major focus area under the new strategy is an expansion of our digital financial literacy program and working with the financial sector to help entrepreneurs access finance for climate resilient businesses. 

We can only do our work with the support of the Good Return community, so we would like to take this opportunity to thank our government partners, and corporate, philanthropic and individual donors for all that you do to support our efforts.

This year, we focussed largely on organising, developing and expanding CAFE Digital. This has resulted in lower numbers of face-to-face trainers and learners while we invest in building our digital resources and capability, and is expected to result in much higher numbers of graduates as CAFE Digital is rolled out over the years ahead.

In Fiji, a new program with a strong emphasis on digital finance training is starting to make a significant difference. With support from VISA, Good Return has adapted its CAFE curriculum to the Fijian context, delivering training to women in local villages. The program will not only build confidence in using digital tools, but also empower women to take control of their money, budget wisely, save consistently, and create stronger futures for their families.

In collaboration with local partners, Good Return has been laying the groundwork to launch our Consumer Awareness and Financial Empowerment (CAFE) coaching program - a financial literacy initiative designed to build practical money management skills. Here is what we have achieved so far:

• 9 local coaches trained to deliver the CAFE coaching.

• 5 enumerators skilled in collecting vital pre/post-training data.

• 120 learners surveyed to understand their baseline financial knowledge and confidence.

• A tailored, localised curriculum has been developed to meet learners’ real-life needs.

  Ayu Bulan, Good Return’s Indonesia Country Coordinator, shared, “The key to success is that many of the coaches are entrepreneurs themselves, which helps them to relate to the learners, and they have the capacity to connect to the curriculum so it resonates with the participants.”

  This solid foundation has positioned us to roll out the delivery of financial capability coaching to marginalised communities in Indonesia over the year ahead. Once confirmed, we’ll be ready to begin the coaching phase. Good Return’s CAFE Initiative is delivered in partnership with the Australian Government through the Australian NGO Cooperation Program (ANCP).

The RIF Academy has grown into a cornerstone of capacity building for the sector, providing on-demand access to practical training and tools for Financial Service Provider staff across the region. This year saw strong user growth, with nearly 1,003 users completing over 8,000 courses - a 13% increase on the previous quarter. The platform’s curriculum expanded, with seven new e-courses launched, including a Disability Awareness module now available in multiple local languages. Designed for low-bandwidth environments and accessible across all devices, the Academy ensures inclusive learning opportunities for even the most remote users. In partnership with TalentLMS, the shift to online learning has avoided an estimated 5.9 tonnes of CO₂ emissions, contributing to more sustainable operations.

Our technical assistance work deepened across several countries, supporting Financial Service Providers to improve Gender Equality, Disability and Social Inclusion and Safeguarding practices. In Papua New Guinea, a new project funded by DFAT through Abt Global began implementation, providing tailored support to three banks to expand inclusive services to underserved provinces. In the Philippines, we advanced our long-term collaboration with the APPEND network, leading the first national Gender Advocates Conference for microfinance institutions and facilitating sessions on SDG #5 Gender Equality and gender bias in the sector.

Across all programs, the focus remains on transforming institutions from within - shifting policies, practices, and mindsets to make finance more inclusive, equitable, and sustainable for all.

While this chapter has come to a close, its legacy continues through our growing Impact Investment Fund, which builds on that same vision by offering responsible loans to women-led and inclusive businesses that generate income and employment for people living in poverty.

Alongside our financial capability programs, this approach ensures that more people -especially women - can gain the confidence, tools, and access to finance needed to build resilient livelihoods.

This year marked the conclusion of our first Impact Investment Fund, which operated over five years to June 2025. The Fund exceeded its targets, mobilising $5.05 million into agricultural value chains and supporting 4,100 jobs through 602 small and medium enterprises, with 90% of loans going to women. Working closely with Financial Service Providers, we helped develop social inclusion policies and deliver staff training that strengthened their understanding of the needs of underserved clients. These achievements highlight the effectiveness of our loan guarantee model in unlocking finance for women and marginalised businesses, while influencing systemic change within the financial sector,  winning the Emerging Markets Impact Investment of The Year at the Australian Impact Investment Awards.

Building on these results, during FY2024–25 we focused on the design and development of our Impact Investment Fund II. We began forming new partnerships with financial institutions,  investors and technical assistance providers to support MSMEs - particularly women-led enterprises - in adopting climate-smart business practices. Throughout the year, we strengthened our profile as a leader in innovative finance, contributing thought leadership pieces on impact measurement and gender inclusion through On Impact and the Asian Venture Philanthropy Network, and showcasing our approach at six regional events.

The Sugarbag Initiative enabled 20 members to access micro-grants, demonstrating how small, locally administered funds can spur confidence, household income, and business growth. This is a ‘pay it forward’ model where the group contributes to the money pool and makes a group decision as to who should receive it. Grants were spent on a variety of things such as printed business cards and a photoshop subscription.

The Maganda Makers Business Club has supported over 140 Kimberley Indigenous women through peer support/mentoring, culturally appropriate business support, connection events and pathways to business growth support and capital. 

The women leaders of the club have determined that they are now ready to establish a formal legal entity, the Maganda Makers Ltd, to support club activities and related activities in support of Kimberley Indigenous women.

During the year we also forged connections with other groups of Indigenous women pursuing entrepreneurship across Northern Australia under the banner of the Future Weavers initiative.

The broader Future Weavers initiative across Northern Australia has identified, engaged and fostered connections with and between several groups including the Galiwin’ku & Gapuwiyak women’s empowerment collective on Elcho Island, Northern Territory; Gathanmi Camp in East Arnhem Land, Northern Territory; and Blaq Diamonds in Far North Queensland. Activities to date have focused on cross visits and convenings to explore cross-learning and entrepreneurship opportunities. This initiative has expanded across Northern Australia. We’re adopting a localised approach that brings women together on Country, strengthening solidarity and leadership through yarning circles and local mentors.

Our aim is  to connect more Indigenous women in business to skill-building resources, peer networking opportunities and access to responsible finance - the right tools for women ready to rise.