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 :
We are always looking to support our social business initiatives across the globe. The most recent example has been the support of the International Investment Fund (IIF) at the University of Michigan – Ross School of Business. The IIF is a student-led investment fund led by MBA students at UM-Ross, aiming to support early-stage social businesses in emerging economies. Starting its journey
Imagine that when you cook a meal, your only means of doing so is by lighting an open fire inside your kitchen. Thick plumes of black smoke fill the room where you and your family cook and eat every evening. Since this is your only means of cooking, you pay significant amounts every year to buy the fuel for it.
People in rural and peri-urban Kenya are lacking access to high-quality healthcare and medication. Less than 5% of Kenya’s GDP is spent on healthcare and only 17% of Kenyans have health insurance coverage. With 46% of the country’s population living below the poverty line, Kenyans are particularly vulnerable to financial catastrophe when facing health issues.