As we, at Yunus Social Business, are tracking and seeing the devastating effect of the Covid-19 virus in the countries where we work, live and hail from, we have been wondering what are the best ways to use our assets.
The Corona pandemic will hit particularly hard the developing countries with harsh sanitary, social and economic consequences for their populations. The healthcare systems do not have the capabilities to address such a crisis while governments are unable to offer the social and economic policies to protect the most vulnerable individuals.
Hence we fiercely believe in the potential of existing solutions created by social entrepreneurs to prevent the Bottom of the Pyramid from the direct or indirect impact of Covid-19. Supporting the leaders who are racing to build new solutions, we aim to safeguard and accelerate the existing ones.
In addition to the action of social entrepreneurs, we stand by our claim that corporations should better understand, articulate, and act on their purpose. Now is the time to do so in the most meaningful way, by leveraging their assets and resources to contribute to solving the challenges we face as a global, connected humanity — challenges that are so vast & complex, no one can solve them on their own.
Tapping into our resources and love for networks, we are developing the 2 distinct responses :
These have been difficult times for our portfolio companies. They are working hard to protect those they employ and serve. In India, Waste Ventures recycle plastic and improve the lives of waste pickers. As they are dependent on revenues from previous months to meet their expenses, the abrupt pause to their activities has made their ability to pay their workforce much more difficult.
The work culture of our Corporate Team at YSB has always been geared towards remote working. This allows us to keep ahead of the curve in these ‘digital nomadic’ times by providing flexibility and autonomy to our employees.
Fresh water is abundant in Bangladesh, in the form of numerous groundwater resources that are shallow and easy to exploit. However, for essentially geological reasons, almost all of the groundwater is contaminated with arsenic, very often at levels that make it a health hazard.