- Yunus Social Business

Growing Businesses That Matter
Yunus Social Business - Global Initiatives 2014
FOREWORD
Welcome to Yunus Social Business
Table of Contents
Foreword
1
About Us
At a Glance
2
The Story of YSB
4
Our Presence
6
Spotlights
8
Our Initiatives
Entrepreneur Services
12
Financing14
Our Global Team16
Our Country Directors
18
YSB Country Overviews
YSB Haiti 20
YSB India 22
YSB Colombia 24
YSB Albania 26
YSB Brazil 28
YSB Tunisia 30
YSB Uganda 32
Partnerships and Events 2014
34
Lessons Learned38
Support Us40
YSB Co-Founders CEO Saskia Bruysten (L) and CFO Sophie Eisenmann (R)
with YSB Co-Founder and Chairman and Nobel Peace Prize Laureate Professor Muhammad Yunus (C)
Dear YSB Family,
imprint
Published by: © Yunus Social Business
GmbH and gGmbH, February 2015
You are welcome to copy this publication
for internal use within your organisation.
Otherwise, no part of this publication may
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of the copyright owner.
Thanks
All photos in this publication are of YSB’s
team, its social businesses and/or their beneficiaries.YSB would like to express gratitude to: Gabriel Leitão (in Albania, Brazil,
Tunisia, Uganda, Haiti and Germany),
Manuela Castaño and Maria Fe Defilippi
(in Colombia), Brand Haiti and Nouveau
Concepts (in Haiti) and our local country
teams for additional photos in India and
Germany. Design: Fré Sonneveld.
Saskia Bruysten
Co-Founder and CEO of Yunus
Social Business Global Initiatives
We are excited about the immense demand for the social business concept around
the world. Since 2011, based on local requests, we have expanded into 7 countries
including Haiti, India, Colombia, Albania, Brazil, Tunisia, and Uganda.
Our results so far include 7 countries, 26 social businesses, 400+ entrepreneurs
supported, 1000+ jobs created and sustained, $7.4 million deployed, and more
than 200,000 customers served.
2014 has also been the year for us to look back, to reflect on the lessons learned
and think critically about how we see ourselves in the future.
We have learned that we need to imagine things to make them happen. If we
don’t imagine, it will never happen. Which is why we want to help our entrepreneurs imagine bigger, better and greater. Our Entrepreneur Services program has
been strengthened to better support, coach and mentor our entrepreneurs.
We have also realized that we need to be more like our social businesses we
finance, and introduce, test and prototype our own initiatives to strengthen our
business model. In 2014 we launched our structured 3 month accelerator program
in Albania, Tunisia and Brazil and we will now be rolling this out across 3 additional countries in 2015.
We invite you to look through this report to learn more about our work in 2014
and we look forward to your continued feedback and support to help us grow
social businesses that matter.
YUNUS Social Business 1
ABOUT US
What is Yunus Social Business
AT A GLANCE
Yunus Social Business Global Initiatives
(YSB) is a social accelerator that incubates
and finances local entrepreneurs to build
solutions from the ground up. YSB is active
in 7 countries where local country offices
source, coach and mentor entrepreneurs;
YSB subsequently finances the most promising social businesses while also providing
post-investment support.
*Please
note that all figures in this report are as
of December 31, 2014 and all monetary
amounts are in US Dollars.
7
Countries
26 Social Businesses
400+ Entrepreneurs supported
1000+ jobs createD and/ or Sustained
$7.4M deployed to social businesses
200,000+ customers SERVED
2
YUNUS Social Business 3
ABOUT US
In His Words
Prof. Muhammad Yunus
“Social business is a powerful concept
Nobel Peace Prize Laureate,
Co-Founder and Chairman of Yunus Social
Business - Global Initiatives
at the intersection of the social and
Over the years, I have created many businesses. Whenever I wanted to solve a human
problem, I tried to think of how to use a
business approach to address it. These were
new kinds of companies, to help others
rather than to make money for ourselves.
Whatever profit we made from the companies, we reinvested to make them grow and
solve even more problems. I started calling
this type of company a social business.
The concept of social businesses has been
the missing piece in the framework of the
business world. The present day money-centric capitalism cannot continue. In
light of the financial and many other crises,
we need to rethink the fundamentals of our
economic system, a system that has failed
again and again to address basic problems
of our world, such as poverty, inequality,
disease, unemployment, and environmental
degradation amongst many others. In relation to the size of the problems, traditional
charitable work can only ever play a small
role to fix them. But social businesses can
be much bigger, because they recycle money many times and keep growing, solving
problems all along the way.
business realms. The objective is to apply
the professionalism and efficiency of the
business world to solving the world’s
most pressing social problems. And to
do so in a self-sustaining way, providing
A social business is a company 100% dedicated to solving
a social problem in a financially self-sustainable way.
for choice and personal responsibility for
those who benefit from it.”
Ulrich Villis – European Leader Social Impact Practice,
The Boston Consulting Group.
What is Yunus Social Business (YSB)?
Building on the success of Bangladesh where social businesses have worked at
scale, YSB was founded to replicate this model globally through local countries.
YSB applies business approaches to the world of social development, bridging the
gap between social businesses and philanthropic lenders and donors.
YSB has an on-the-ground presence in 7 countries, where our local country
teams run our two main initiatives:
Entrepreneur
services
Through my own experiences I have seen
how social businesses are a good way to
combine the efficiency of market-based
competition with philanthropic goals. I have
created many
social businesses in Bangladesh, such as Grameen Danone, Grameen
Veolia, BASF Grameen, Grameen Shakti,
Grameen Intel, Grameen Green Children
Eye Care Hospital – over 40 in Bangladesh
alone. They have proven their effectiveness in solving pressing problems and have
grown and become stronger.
The mission of Yunus Social Business
Global Initiatives is to spread this success
to other parts of the world. We are confident that social businesses will become an
attractive option for more and more social
business entrepreneurs, existing businesses,
fund managers, foundations, bilateral and
multi-lateral development agencies, governments and philanthropic lenders.
The Story of Yunus Social Business
3 months structured accelerator
program for selecting and
training high-potential
entrepreneurs.
Financing as well as active portfolio management and support
for the most promising social
businesses.
•
•
•
•
• Due diligence
• Debt and equity
• Soft loans and grace
periods according to each
business’ needs
• Financial and social
monitoring and reporting
• 6-8 year ongoing support
Business planning advice
Mentoring support
Market access
Product and market
testing
• Access to local and
international experts
• Leadership trainings
• Preparation for financing
readiness
“The Origins of YSB”
Grameen Creative Lab (GCL) in Wiesbaden, Germany was set up
in 2009 to spread the social business concept around the world. In
2011,YSB spun off from GCL to specifically focus on supporting
and financing social businesses through local country teams. GCL
continues to focus on spreading awareness of the social business
concept through its annual Global Social Business Summit, Social
Business Fora and partnerships with varying partners, including
prominent universities around the world.
Financing
In providing these two core services,YSB grows businesses that matter.
The YSB global and local teams are a diverse mix of experts, with experience
in entrepreneurship, consulting, venture capital, business incubation, finance and
international development. YSB further has a large pool of expert volunteer consultants that contribute to its global and local operations.
YUNUS Social Business 5
OUR PRESENCE
YSB offices and projects around the world
2010 Haiti
The YSB Haiti office was opened with
the support of our founding partner
SAP. Currently, the team manages a
portfolio of 9 social businesses.
Germany
2013 Tunisia
YSB Global Initiatives in
Frankfurt coordinates all
project countries across the
globe, serves as a shared
services provider to all
countries and develops
YSB’s overall strategy. The
team drives process standardization, quality control,
and knowledge exchange
across all countries and
makes the final financing
decision. Global partnerships
that benefit all countries are
initiated through YSB Global
Initiatives, as are global fundraising activities and investor
relations.
In partnership with the African
Development Bank, Tunisia was the
first in a series of African countries to
replicate the social business concept.
In 2014, it launched its first accelerator program, locally known as iBDA.
2014 Costa Rica
The first corporate social business joint
venture with a Costa Rican leading
food company, Florida Ice and Farm
Company, was launched in 2014, to
produce food to combat malnutrition
in children.
2011 Colombia
2012 Albania
2011 India
YSB Colombia was created in 2011
originally as Grameen Caldas and
officially became YSB Colombia
in 2013. It currently manages a
portfolio of 3 social businesses to date,
including a joint venture with potato
giant McCain.
YSB Albania began operations in
April 2012 with the support of the
Albanian National Government, and
in 2014, it expanded its outreach to
Kosovo.YSB Albania has financed 5
social businesses to date, and ran its
first intense accelerator program in
2014.
YSB India was launched in 2011 in
Mumbai, and 7 social businesses have
received financing to date.
2013 Brazil
In March 2013,YSB Brazil was
launched to spread the social business
concept throughout Brazil; Rio was
officially declared a ‘Social Business
City.’ Yunus Negocios Sociais Brasil,
as it is locally known, ran three cycles
of accelerator programs in São Paulo
and Rio in 2014.
6
2013 Uganda
In partnership with the African
Development Bank,YSB Uganda was
started in November 2013, and the
first social businesses were supported
in 2014.
YUNUS Social Business 7
SPOTLIGHTS
Our Social Business Stories
Campo Vivo, Colombia
Higher and more stable income
for farmers
Campo Vivo was launched as
a joint venture social business
with potato giant McCain to
intervene in the agricultural
value chain by developing
competencies in small-scale
farmers, strengthening the
social tissue and promoting competitive productive
activities in vulnerable rural
communities. It provides high
quality technical assistance and
ensures entrepreneurial capacity building to farmers and
thus, increases family income,
improves productivity levels
and working conditions, and
engages both men and women.
On May of 2014, Campo Vivo
began its operations in Une,
Cundinamarca with a pilot
group of 21 families working
in 40 ha of land. The second
group will start its activities on
February 2015 within the same
area. Potato is the initial crop
and it shall be alternated periodically with rotation crops.
During its initial phase, which
will last 3 years, Campo Vivo
will run 3 pilots with 225 families of producers in different
areas of the country. As such, in
three years, Campo Vivo will
directly impact 675 producers and their families or an
estimated 2,400 individuals.
DIGO, Haiti
Increased sanitation through microentrepreneurship
Digo is a distribution social business, working in partnership with “Les Industries Digo;” the only major manufacturer of
domestic cleaning products in Haiti. Digo Distribution works with micro-entrepreneurs to help them to sell these products to
end customers, and at the end of 2014 had built up a network of 100 points of sale, providing increased incomes to over
100 micro-entrepreneurs. At 30% of the price of traditional cleaning products, Digo helps Haitian families fight
water-borne diseases, such as diarrhea and cholera.
Digo supports these micro-entrepreneurs with branding and marketing, and supplies the product on credit. Rather than selling
in pre-packaged containers, Digo allows customers to bring their own plastic containers to sales points, and fill these up with
as much or as little as they need. This reduces the cost to the customer. This innovative solution is also reducing plastic waste in
Haiti.
Digo’s founder Jonas Guillaume was recently named “Entrepreneur of the Year” in a nationwide competition.
8
YUNUS Social Business 9
SPOTLIGHTS
Bive, Colombia
Affordable and increased healthcare for
low-income families
Our Social Business Stories
Denial of services and medications,
long waiting times, and difficult
administrative procedures are huge
obstacles for access to healthcare for
the poor in Colombia. This translates
into a higher occurrence of preventable disease, delayed diagnosis,
increased spending on high complexity treatments and lower quality
of life. Bive has created a network of
62 health care providers that offers
discounts and immediate care with a
focus on the poorest of the poor. A
Bive membership plan not only provides general access to care, but also
discounts of up to 68% on the price
of private providers and a guaranteed
medical appointment within 7 days.
Since its operations from November 2012, it currently has 10,000
patients in Caldas region, 90%
of whom are people of low and
middle income. Over 950 services
have been rendered through the Bive
network, and its sales revenue from
2014 is over $65,000.
In 2015, Bive will expand to two
more Colombian provinces, located in the Coffee Region; aiming to
reach over 20,000 users and generating revenue ofaround $150,000. Bive
will implement the Program Healthy
Smiles Colombia this year, to impact
the dental care of 1,100 children between the ages of 5 and 12 from low
socio-economic levels in Manizales,
Colombia.
Kreyòl Essence, HAITI
SENIORS HOuse, albania
Fighting deforestation while ensuring higher income
Dignified healthcare for the elderly
Kreyòl Essence is an eco-luxury beauty brand, creating products made from
Haitian black castor oil. They are working with farmers who grow castor
plants and in particular women who are making castor oil from the seeds,
buying them above market prices and ensuring sustainable incomes for
those in the castor oil value chain. In addition, Kreyòl Essence is fighting
deforestation in Haiti, aiming to grow over 40,000 plants in the next
3 years.
Seniors House is an elderly home-care social business that offers high quality
daycare and residential services to promote independence, dignity and quality of
life for the elderly in Albania.
Kreyòl Essence is exceeding sales targets, and has recently partnered with
Miss Haiti who will act as an ambassador for the brand in Haiti and abroad.
10
Being the first social business with high international standards of service, it has
received attention from major Albanian media and was featured on several shows.
After 10 months of operations, Seniors House has 16 clients receiving the
service of residential care; 2 clients who come only for daily service, and
a full list of interested clients for the months to come.
YUNUS Social Business 11
ENTREPRENEUR SERVICES
Our Initiatives
“My mentor has been of tremendous help on various
aspects. He provided very useful strategic thinking and
helped me create a much clearer vision of my social
business. Having outside party experts is
very important for entrepreneurs.”
“An entrepreneur is someone who jumps off a cliff
Emiland – YSB Albania Entrepreneur
and builds a plan on the way down.”
Reid Hoffman – founder of LinkedIn
ENTREPRENEUR SERVICES
6
Accelerator
Programs
400+
Entrepreneurs
Supported
YSB invests in people, in their
dreams and in their abilities. A
social business – like any business –
is shaped, fostered and strengthened
by the team behind it, not the other way around. We therefore work
hard to identify the most promising
entrepreneurs that have a clear
vision, a strong profile and a
deeply rooted desire to create
an impact within their communities. As part of this process
we engage in extensive outreach
in the countries we operate in,
holding social business workshops,
conferences and events with local
partners.
1-on-1
coaching
• Individually tailored 1-on-1
coaching for each entrepreneur from selected social
business consultants, experts and local and international mentors to strengthen strategic plan, business
model and financials
Once we have identified them, we
provide the following services to
our entrepreneurs:
State-of-the-art
Curriculum
15,000+
Direct Reach
Through
Campaigns
12
• Customized 3 month
state-of-the-art curriculum
delivered through a structured accelerator program,
including workshops and
presentations by leaders
and experts and product
market testing according
to the lean business model
approach
Connection with
a community
• Connections with a network of entrepreneurs
within the Yunus Social
Business and the Grameen
family
• Opportunities to share
experiences and challenges
with like-minded entrepreneurs
Access to Markets
and Providers
• Facilitation of partnerships
with potential distributors
and customers, as found
through our strong network
• Negotiated packages with
reliable service providers,
for example in accounting,
legal, or promotion and
marketing
Investment
Readiness
• Preparation for pitches to
YSB’s Financing Committees
• Connections with other
potential investors
YUNUS Social Business 13
FINANCING
YSB Financing Process
Our Initiatives
Accelerator Programs
Our Accelerator Programs prepare our social businesses to make pitches to
our Financing Team.
Initial Screen and Preliminary Due Diligence
Before financing of a social business, each one undergoes a detailed, fact-based
3-level due diligence process.
“A charity dollar has only one life,
a social business dollar can be invested over and over again.”
Business Plan Assessment/ Review and Due Diligence
Prof. Muhammad Yunus – Nobel Peace Prize Laureate, Chairman of YSB
In an iterative process, the Review Committee screens each proposed business. It
then works together with country teams to make recommendations to entrepreneurs to advance their business plan.
Portfolio Overview
Since its inception in late 2011,YSB has deployed
to 26 social businesses;
thereof directly financing and committing over $2.6M. In addition, $4.9M has
been mobilized by YSB from co-investors. More than 1000 jobs have been
created and/or sustained so far and over 200,000 customers have received essential products and services.
Financing Decision
Business cases that are deemed finance-ready are presented to the Finance Committee, an independent committee from the Review Committee, that makes final
financing decisions. This decision is based on evaluation of the entrepreneur and
team, social impact, financing sustainability and risk profile, replicability and scalability and maturity.
Our local country teams generally determine impact areas, shaped by entrepreneurs’ solutions to their local region’s most pressing problems. Taken as an
aggregate up to 2014, YSB’s strongest area of total financing has been in Health
(57%), followed by Employment in the Agricultural sector (15%) and Gender and
Marginalized Groups (14%).
Negotiation of Terms and Contracting
YSB and the entrepreneur enter into pre-agreed binding contracts defining exact
terms and conditions of the financing package.
In agreement with the entrepreneur and their management team, a monthly, quarterly and annual reporting schedule is set. This includes financial as well as social
Key Performance Indicators (KPIs) most relevant to the specific social business.
We rely on output indicators as proxies for assessing the actual impact of the business. Reporting also includes operational milestones, to allow close tracking of the
progress of the social business
How It Works
$7.4M*
“I congratulate YSB:
unlike other financing
Most of YSB’s social businesses are early-stage ventures, with the majority of loans
disbursed in 2013 and 2014. Eight companies have reached the end of the grace
period so far. Two have fully repaid their loans and six are on track with their payments. In total, YSB has received more than $135,000 in repayments in 2014.
*YSB
provides financing to social businesses in local currency, USD and EUR. All amounts
in this report are valued in USD at the spot rate at the time of printing of this report.
institutions, they took
the necessary time
FINANCING
Portfolio Management and Mitigating Risks
It is our core philosophy to work closely with the social business post-financing
in order to enable sustainable growth.
Regular reporting enables us to closely monitor the advancement of the business
along previously determined milestones and intervene wherever needed.
Typical support includes advice on strategic and operational readiness, support
on accounting and process standardization, as well as legal issues, personnel
recruitment, governance issues as well as general hands-on advice in challenging
situations
14
26 Social
and effort to help us
gather all elements
Financing Criteria:
YSB Funds gGmbH (Germany) is
organized as a non-profit, and pools
philanthropic capital from donors and
philanthropic lenders to finance social
businesses that have been selected and
prepared by the YSB country offices.
Our loans are generally structured as
long-term shareholder loans with a
small equity portion, leading to a minority stake in our portfolio companies, of up to 25%. The loans feature
below-market-conditions and grace
periods of up to two years, to give the
social businesses breathing room at
the start.
As the social businesses pay back
the capital, YSB re-finances other
social businesses, and/or returns it to
philanthropic lenders in proportion to
their share of the total capital contributed, up to the nominal value of their
initial investment.
Businesses
needed for the success
Entrepreneur and team,
of our social business
social impact, financing
and orient us in the
sustainability and risk
200,000+
created and/or
right direction.”
profile, replicability and
Impacted
sustained
YSB Haiti Entrepreneur
scalibility, maturity
Customers
1000+ Jobs
YUNUS Social Business 15
OUR TEAM
Prof. Muhammad Yunus
Our Global Team
Co-founder and Chairman
Professor Muhammad Yunus co-founded YSB Global Initiatives, and currently serves as
the Chairman of the Board for YSB Global Initiatives.
He is additionally the founder of Grameen Bank. Today, Grameen Bank has over 8.4
million members—97 per cent of who are female—and has lent over US$12.5 billion
since its inception. In 2006, the Norwegian Nobel Committee jointly awarded the
Nobel Prize in Peace to Professor Yunus and Grameen Bank “for their efforts to create
economic and social development from below.”
Since 2006 Professor Yunus has focused on spreading and implementing the concept of social business. Professor Yunus currently
chairs the Yunus Centre, a one-stop resource centre for all Grameen social business-related activities in Bangladesh and around the
world. He has written three books about micro-lending and Social Business: “Banker to the Poor” (2003), “A World Without Poverty:
Social Business and the Future of Capitalism” (2008) and “Building Social Business” (2010).
Among Professor Yunus’ many awards and honors he has received two of the highest US Civilian awards (Presidential Medal of Freedom and the Congressional Gold Medal). Thereby, he is one of only seven people in history that have received these awards, along
with recipients Martin Luther King Jr., Mother Teresa or Nelson Mandela. In 2009, Forbes named Professor Yunus one of its “10
Most Influential Business Gurus.”
Saskia Bruysten
Co-Founder & CEO
YSB Management Team
A leader in the social business
movement, Saskia co-founded
YSB together with Nobel Peace
Prize Laureate Prof. Muhammad
Yunus and Sophie Eisenmann, and
is in charge of general strategy and outreach at YSB. Saskia
has been featured on the Wired Smart List 2013, contributed
widely to the Huffington Post, Forbes, and co-authored a report with the Boston Consulting Group on the experiences of
building large scale social business joint ventures in Bangladesh.
Saskia was appointed to the EU Commission’s expert group on
social business and has assisted Prof. Yunus on Ban Ki-Moon’s
UN MDG Advocacy Group as well as Sir Richard Branson’s
B-team. Saskia is the youngest Generation CEO member and a
Young Leader of the Atlantik Brücke. She has lectured at several universities and speaks regularly at high profile events.
Prior to YSB, Saskia was the Co-CEO of the Grameen Creative
Lab and a management consultant at the Boston Consulting
Group. She holds an MBA from the European Business School
in Germany and an MSc in International Relations from the
London School of Economics and Political Sciences.
Sophie Eisenmann
Co-Founder & CFO
YSB Management Team
As CFO and head of YSB’s
activities in Haiti since inception,
Sophie is responsible for the
global finances of YSB as well as
the strategic direction setting and
concrete impact generation through the social businesses on
the ground, especially in Haiti.
Prior to YSB, Sophie was a Director at the Grameen Creative
Lab, responsible for large social business country initiatives
that GCL initiated, including Haiti, Albania and Colombia.
Previously, Sophie worked as a strategy consultant for Siemens
Management Consulting in Munich as well as financial analyst
for GE Capital in London, Amsterdam and Munich. She has
lectured at universities in Milano, in Bogota and in Tirana on
the topic of social business.
She holds an MBA from European Business School, Oestrich-Winkel Germany and an MBA in International Business
from INSEAD. She is a board member of Campo Vivo, a JV
with McCain, ensuring sustainable incomes for farmers, as well
as founding member of Step-up, a network that helps disadvantaged young people in Germany to pursue their academic
studies.
The YSB Global Management team is supported in Partnerships by the University of Cambridge graduate Teddy Sun;
she was formerly an investment banking analyst at London’s RBC Capital Markets. An Operations Manager further
provides administrative support. Sarah Karim has been supporting the team in developing YSB’s strategy and improving our communications efforts. She holds an MBA and has several years of experience as a strategy consultant, as
well as previous experience working at Acumen. Finally, several volunteer social business consultants provide strategic direction and advice, with prior experience at BCG, varying nonprofits and corporations, as well as at start-up
ventures.
Karen Hitschke
Sylvain Ferriere
Karen has extensive expertise
and experience in fund structuring, investment processes and
fundraising.
Prior to YSB, she was the Chief Financial Officer at Affectis
AG and an advisor to B-to-V (Business Angel Network) in
Switzerland. Karen has also served as an investment manager at
Apax Partners and as a consultant at McKinsey & Co.
Sylvain heads up and shapes
YSB’s activities in Africa. Prior to
YSB, Sylvain worked as a consultant in Argentina for Endeavor,
a NGO dedicated to identifying and supporting high-impact entrepreneurs and then as a
general manager for the fashion design business of an Endeavor
entrepreneur. He has also served as a consultant for the Boston
Consulting Group in Paris.
Karen holds an MBA from INSEAD, Fontainebleau, and a
M.Sc. in Biology from the University of Constance.
Sylvain holds a M.Sc. in Mathematics from Imperial College in
London and a M.Sc. in Management from HEC in Paris.”
Fares Mabrouk
Daniel Nowack
Fares leads YSB’s global acceleration programs, after initially
serving as YSB Tunisia’s Country
Director. Prior to joining YSB,
he founded the Arab Policy Institute, a Tunis-based think tank.
Fares also previously founded and ran a number of SMEs based
in North Africa, focused on mobile banking, oil logistics, and
journalism.
Daniel is responsible for heading
YSB’s activities in Albania and
Kosovo. Prior to YSB, Daniel was
CFO for a German incubator
for mobile and online startups,
where he was responsible for
signing financing rounds, reporting structures and legal setups
of multiple organizations.
Director Funds & Investments
YSB Management Team
Global Accelerator Head
Fares is a visiting professor at Sciences-Po in Paris, where he
teaches statistics and data analysis. In 2010, he was selected as a
Yale World Fellow.
Fares obtained a Master’s degree in Public Administration from
Harvard University’s Kennedy School and has a degree in Economic and Statistics from the National School of Statistics and
Economic Administration in Paris.
Program Director Africa
YSB Management Team
Program Director Albania
Daniel’s early professional experience includes five years in
Corporate Finance for Europe and Emerging Markets at Merck
& Co. Inc. and another five years in online marketing, including
leading his own online marketing agency for SMEs in Germany. He also has served as Project Manager for Grameen Creative
Lab.
Daniel holds a Diploma from the University of Cooperative
Studies Stuttgart and a Bachelor from Glamorgan Business
School, Wales.
YUNUS Social Business 17
OUR TEAM
Country Directors
Shkelzen Marku
Country Director Albania
Shkelzen heads YSB’s activities in Albania. Prior to YSB, Shkelzen was Executive Director of the Mountain Area Development Agency (MADA). He also worked as General
Director of Agriculture and Rural Development Policies in the Ministry of Agriculture in Albania. He is a co-founder and president of the Partnership for Development
Foundation, and a visiting professor at the Economics and Agribusiness faculty of the
Agriculture University of Tirana and the Economics faculty of the European University
of Tirana.
Shkelzen holds a PhD in Rural Economic Development Policies (AUT, Albania), a MSc
in Management of Rural Development Policies (CIHEAM-IAM, Montpellier, France),
and an Agriculture Engineering Diploma (CNEARC, Montpellier, France).
Aarti Wig
Country Director India
Aarti has developed and led the India operations of the YSB movement since its inception, first as Country Director of the Grameen Creative Lab and now as part of Yunus
Social Business. She helped create the YSB Fund Mumbai and currently manages it.
Aarti has also advised several Indian universities, corporations and non-profits on creating social businesses. Previously, Aarti worked as an investment banker at JP Morgan in
Mumbai.
Clémentine Lalande
Country Director Haiti (a.i.)
Before serving as interim director in 2014, Clémentine led investment management
activities and business plan advisory services in Haiti, developing social business joint
ventures with corporate clients. Prior to YSB, Clémentine was a Project Leader at the
Boston Consulting Group in the Paris office, working with both private and non-profit
clients, in more than 8 countries including in Europe and in the Middle-East. She also
worked for the CEO of Action Contre la Faim, a French NGO fighting malnutrition,
helping them on organization &a development projects at Headquarters in Paris, and
leading projects on the ground in Ethiopia and Chad.
Clémentine studied Industrial Engineering at the Ecole Centrale in Paris, and
Wirtschaftsingenieurwesen at the Technische Universität in Berlin.
Aarti holds a Master’s degree in Finance from the London School of Economics.
Leila Charfi
Country Director Tunisia
Rogério Oliveira
Country Director Brazil
Leila joined YSB after working for 6 years in the Telecom industry in Canada and
France, before moving back to Tunisia in 2007, where she managed the first private
incubator, the Microsoft Innovation Center. In 2012, Leila moved to Microsoft Africa
and developed partnerships with African incubators and technology hubs, and managed
programs to promote entrepreneurship at the continent level.
Rogério co-founded and heads up operations of YSB Brazil. He has 12 years of experience in leading teams in the areas of product development, business units implementation and enterprise start-ups within companies such as Warner Bros, Johnson&Johnson,
Nestlé, UOL and BRMALLS. Rogério is also the founder of Movimento Buena Onda
- an accelerator for social businesses focused on creating happiness, social or environmental impact.
Leila Charfi has a Computer Engineering degree from Tunisia and a Master’s degree in
Telecommunications from Canada.
Rogério holds an MBA from HEC Montreal and teaches ‘Happiness as a Business Strategy’ at Perestroika, a Brazilian innovation school.
Eriab Kiiza
Andrea Perez Castro
Country Director Colombia
Country Director Uganda
Andrea is responsible for heading YSB’s activities in Colombia. Prior to YSB,
Andrea served as Assistant to the Executive Directors for Central America and
Belize at the Inter-American Development Bank. She is also co-founder and external
relations coordinator at Mentoring International. Prior, she was project manager and
industrial engineer at Tindal.
Prior to joining YSB, Eriab worked as Coordinator of Uganda Country Capacity Building Program, as Director of Enterprise Development at Enterprise Uganda Foundation
Limited, and as Investment Office at Uganda Investment Authority. He implemented
various business development projects funded by international agencies in Eastern and
Southern Africa, and executed financial inclusion interventions targeting small businesses, women and youth in Uganda. Eriab is an “International Entrepreneurship Expert”
accredited by the United Nations Conference on Trade and Development.
Andrea holds an Industrial and Systems Engineering Bachelor’s of Science from Virginia
Polytechnic Institute State University and an MBA from Georgetown University.
Eriab holds a Master’s and Bachelor’s degrees in Economics and an ACCA
Diploma in Financial Management.
18
YUNUS Social Business 19
YSB HAITI
$1.4M
Overview
Deployed to
9 Social
Businesses
Pain O Quotidien produces fortified bread while
distributing its products through a network of
female micro-entrepreneurs.
“Social business is a particularly powerful tool in Haiti, because
it is an exit strategy to the dependency created by decades of
traditional aid. YSB invests in the Haitian entrepreneurs who
believe in positive and lasting change in their country.”
Clémentine Lalande – Country Director
Cumulative
$100K+ monthly
Bakery CBPM provides employment
opportunities while its proceeds
financially support a local school.
revenues
impacted customers
PER MONTH
The local team
YSB Haiti has a portfolio of 9 social businesses in Haiti, which have received
almost $1.4 million in financing from YSB, and a further $800,000 has been mobilized from YSB’s co-financers.
YSB Haiti’s Country Director Clémentine Lalande has served as Head
of Investments for YSB Haiti, and
before that as a Project Leader at Boston Consulting Group and as Project
Manager for the CEO of Action
Contre la Faim, a French NGO fighting malnutrition. Philippe Lagrenade,
Djimitri Celestin, Jhonson Vilson,
Ann-Sophie Ovile (all from Haiti),
Zoe Tyndall (from the UK), Dorian
de Broqueville (from Belgium), as
well as Hassan Hajam (from Tunisia)
work on incubation efforts within
YSB Haiti as Social Business Consultants. Rebecca Augustin provides
administrative support.
SESA supports the cultivation
of edible jatropha trees to
process fruits into biofuel and
reduce Haiti’s energy and animal feed import dependence.
“I want to express deepest gratitude for all that YSB
10,000+
Social Business Portfolio
is doing toward helping our social business to succeed.
The support they have been providing to my social
business has been huge.”
YSB Haiti Entrepreneur
Poulailler de Nicolas (ESN) rears local chickens and creates local employment.
HAJICA rears local chickens in a country that relies heavily on chicken imports.
COPRABEP rears local chickens on an island with very limited economic activity.
The following social businesses were financed in 2014:
• Digo Distribution, which allows micro-entrepreneurs to sell locally made
cleaning products, increasing their incomes. Customers purchase these by
refilling their own plastic containers, dramatically reducing the price to the
end consumer, and eliminating a lot of plastic waste in Haiti. Most importantly, access to these cleaning products is vital to prevention of diseases such
as cholera.
• KreyÒl Essence, which works with castor oil farmers and producers, buying
at above market prices to create beauty products that are sold in the USA.
In doing so, it works with local farmers who grow local castor plants, and
ensures sustainable income for all along the value chain while fighting deforestation.
Entrepreneur Services
YSB Haiti has extensively supported and coached its social businesses in their
strategic or operational challenges, and in doing so, has helped them prepare for
financing readiness. This includes negotiation with strategic buyers and suppliers,
support in registration of legal procedures, shared working space for start-up phase,
facilitation with additional financial partners and support in a turnaround plan.
YSB Haiti’s Port-Au-Prince office continues to receive business plans from all
over Haiti. In 2014, a special focus was put into working with Haitian entrepreneurs on the following:
• Implementing the Haiti Forest Initiative - an initiative to develop agro-forestry social businesses, creating good jobs and planting trees.
• Developing social businesses in two other distinct parts of Haiti: in the North
and in Cavaillon, a peri-urban city in the South of Haiti.
YSB Haiti will be welcoming its new
Country Director and Haitian-American Philippe Saint Cyr in January
2015, who has previously served as
the Executive Director of AMCHAM
Haiti, as Managing Partner at varying
corporations and as an investment
and market analyst. Philippe holds an
MBA from Fordham University in
New York, USA.
YSB haiti would like to thank its following local and global partners
YSB Hait would like to thank all its partners for their continued support in 2014, including its major partners Hope
for Haiti/Fondasyon Kuehner (HFH) and The Dalio Foundation, SAP, Deutsche Bank, Haiti Partners, Flora Family
Foundation, PADF, Artists for Haiti and Haiti Broilers.
YUNUS Social Business 21
YSB INDIA
$600,000+
in financing
Overview
Sakhi Retail empowers rural wom-
en as sales agents of socially relevant
products. While YSBFM has invested
into a small pilot, Sakhi Retail reaches
over 600,000 people in Maharashtra
and Bihar through over 850 female
micro-entrepreneurs.
“India’s unique combination of an aspirational entrepreneurial population with
eKutir Wash catalyzes the building of house-
hold toilets in rural Orissa through a unique
micro-entrepreneur turnkey service provider
model. Through YSBFM, eKutir plans to
create 40 toilet entrepreneurs per year.
massive social problems makes it a fertile ground for social businesses.”
Aarti Wig – Country Director
Social Business Portfolio
The local team
YSB India’s social businesses are financed by the Yunus Social Business Fund
Mumbai (YSBFM). Since 2011, 7 social businesses have received financing of
more than $600,000, addressing a range of social issues in India focusing mainly
on health, sanitation and micro-entrepreneurship.
Yunus Social Business India’s
Co-Founder and Country Director
Aarti Wig has worked as an investment banker at JP Morgan, and
consulted several Indian universities,
corporates and non-profits on creating social businesses. The Yunus Social
Business Fund Mumbai (YSBFM)
is overseen by Mr S.K. Shelgikar,
Founder and Chairman of YSBFM
and B.N. Kulkarni, Grameen Director.
Mr Shelgikar has over 25 years of
experience as Chief Financial Officer
of a leading Indian consumer goods
company. He is also a philanthropist
and angel investor, having seeded
leading social sector organisations like
Micro Housing Finance Corporation. Dr. Kulkarni has over 30 years
of experience in the development
sector, including with NABARD
and as head of Microcredit Initiative
of Grameen in India, responsible for
Grameen Bank replications across
India.
In 2014,YSB India financed the following social business:
•
7 social
SPARC founded by Nobel Peace
Prize nominated Dr. Jokhin Arputam, has worked with YSBFM
to build community toilets in
urban Mumbai slums.
ALC India provides handholding support to primary producers in rural India,
helping them to get a higher price for their produce by eliminating supply
chain inefficiency and improving their productivity. ALC India is currently
working with 15 such producer companies and is in the process of promoting another 22. It reaches 65,000 producer households currently and hopes
to reach 300,000 producers in the next 5 years.
To date, 4 companies have reached the end of their grace period and are on track
with their repayments.YSBFM has further received complete repayments from 2
additional social businesses.
businesses
2 Social
Businesses Fully
Repaid Loans
Entrepreneur Services
In addition to its work with the YSBFM,YSB India remains committed to advocating social business as a powerful tool to address India’s problems. In this regard,
YSB India regularly speaks at various events throughout the year, targeted at different social business stakeholders in order to advocate for social business entrepreneurs. In addition,YSB India ideated an innovative pay for results instrument; this
has been shortlisted for an Economic Inclusion Ecosystem Grant Fund launched
by Ashoka, GIZ and EBay Foundation.
Milaap/ Guardian provides microloans to build water
connections and toilets in rural Tamil Nadu.
Sankara Eye Care Hospital
YSBFM would like to thank its following local and global partners
• IIM Calcutta for its partnership on the Tata Social Enterprise Competition
• Tata Institute of Social Sciences for their partnership on the social enterprise competition, Manthan
• Various leading Indian universities that serve as sourcing partners of social businesses that come out of their social
entrepreneurship cells and competitions and which YSBF subsequently funds
provides eye care services through cross-subsidizations to those in need. From its inception of Coimbatore with 1 hospital doing 30,000 surgeries,
it currently has 9 hospitals performing 150,000
surgeries.YSB contributed 14% of the financing
round of this specific social business.
YUNUS Social Business 23
YSB COLOMBIA
Overview
successful
launch of JV
with McCain
“Over the past few years, Colombia has positioned itself as a
Campo Vivo provides high quality technical
social innovation hub for Latin America, encouraging private
assistance and ensures entrepreneurial capacity
building to farmers and thus, increases family income, improves productivity levels and working
conditions, and engages both men and women.
and public initiatives against poverty, pressing social issues and
inequality. YSB Colombia is contributing to drive this movement.”
Andrea Pérez Castro – Country Director
10,500+ impacted
customers
22
Entrepreneurs
Bive facilitates and improves access to high-quality, immediate and affordable healthcare for middle
and low income families
through a network of providers that offer discounts
and immediate care.
supported
Social Business Portfolio
The local team
Since 2011,YSB Colombia has provided financing of more than $230,000 for its
social businesses and mobilized an additional $1.7M from its co-financers. In 2014,
YSB Colombia provided financing to:
• Campo Vivo, which was created as a joint venture between McCain and YSB,
aims at transforming the lives of small-scale Colombian farmers through the
strengthening of their productive activities
Andrea Pérez Castro,YSB Colombia
Country Director, has prior experience at IADB and is an experienced
project manager and operational
excellence specialist. Sophie Chauliac,
Director of Partnership and Project
Manager of Campo Vivo, has experience as social entrepreneur, program
manager and consultant; focused on
international development and poverty reduction. Andrés Trujillo serves as
Director of Social Impact. Ingrid von
Schiller, Cristina Obregón and Julio
Gutierrez, Social Business Consultants, provide social business support
for partnerships and entrepreneurs.
Entrepreneur Services
YSB Colombia continues to provide advisory services on business modeling, partnership management, fundraising and access to markets to the local entrepreneurs
it works with.
YSB COLOMBIA would like to thank its following global and local partners
• The National Agency for Extreme Poverty Alleviation (ANSPE), through its Center for Social Innovation, for promoting social business training and implementation with low-income communities
• Ecopetrol for being the first investor into the YSB Colombia’s Fund
• LGT VP for co-financing social businesses in Colombia to further develop and consolidate their models
• McCain for partnering with YSB on a joint venture to address some of the most pressing social issues in Colombia
• Publicaciones Semana for its strategic partnership to create awareness and promote social business in Colombia
• The National Service of Learning (SENA) for its strategic partnership to provide technical and entrepreneurial
training to social entrepreneurs in the pilot stage of their businesses
• University of Chicago’s Booth Business School for its consultation on the design of our investment fund to satisfy
the investment needs of the Accelerator Program in Colombia
1,650+ people
reached through
media
YUNUS Social Business 25
YSB ALBANIA
2500+ Reached
through
Campaigns
Overview
600+ participants
during Social
Business Week
250+
“We bring a new ideal of entrepreneurship to Albania and the Balkans that
Applications
aims at solving the region’s problems through inspiring new social businesses.
Submitted to
We believe that truly meaningful entrepreneurship can only flourish in an
Accelerator
environment of idea sharing and collaboration. We believe that building trust in
Programs
others and confidence in oneself are the keys to creating such an environment.”
Shkelzen Marku – Country Director
“I am glad that we are talking about the same
business topics and tools which are being used in the
US, Germany, and everywhere else. We are at the
same pace as entrepreneurs in other countries.”
Suela - “Eagle’s House” rural tourism project
Social Business Portfolio
The local team
YSB Albania has financed 5 social businesses since 2012, directly financing more
than $595,000, while mobilizing almost $60,000 from its co-investors. In 2014, it
supported the launch of two new social businesses:
• Food Made in Albania is a food processing company, which re-establishes
the quality-appeal of local agricultural products by processing high-quality
products after sourcing fruits from farmers.
• Saint George Valley Organic Farming is an organic farm that produces sustainably grown organic herbs for local and international traders and processors of essential oils. To ensure quality of input, the farm will own a seedling
nursery, rent plots from farmers while providing local employment.
YSB Albania Country Director
Shkelzen Marku, has led key agricultural projects in Albania for over 20
years, served in the government as a
director and advisor and worked with
the World Bank, UNDP and IFAD.
Melanie Perisse is YSB Albania’s Head
of Investments; prior to YSB, she was
with Boston Consulting Group and
the World Food Program in Africa.
Social business consultants Ermira
Repaj and Leonard Dalipi complement the team with strong finance,
startup and academic backgrounds.
Entrepreneur Services
Seniors House provides dignified healthcare for the elderly.
E-Jona promotes the integration
within society of disabled youth.
YSB Albania would like to thank its following global and local partners
• The Swedish Postcode Lottery for providing support for acceleration and incubation services
• AgFund for enabling us to provide seed financing to new social businesses in Albania
• The United Nations Development Program in Albania for supporting our efforts in fostering youth entrepreneurship
in Albania
• The Austrian Development Agency for its support in running the 2014-15 Accelerator Cycle, with the focus on
establishing an ecosystem around business incubation in Albania in the long-term
• The Ministry of Social Welfare and Youth in Albania for promotion and access to critical networks
• PUM Netherlands Senior Experts for provision of expertise in a vast range of sectors and areas for YSBA social
businesses
• Deutsche Bank Experts for mentoring services to the YSBA accelerator program
• Many other local partners for sharing knowledge and network with YSB Albania
In 2014,YSB Albania ran 2 cycles of its structured accelerator program, providing extensive support to more than 35 entrepreneurs and potential entrepreneurs
with experienced hands-on mentorship, educational programming, visibility to
investors and other resources. It further strengthened our entrepreneurs’ processes
for market and customer validation, development and testing of the commercial
viability of the idea, while providing them support for pitches to investors.
YSB Albania continues to create awareness of social business in the Balkans
region, including a training to entrepreneurs at the Innovation Center Kosovo. It
also hosted Social Business Week in Tirana, offering a series of activities such as
boot camps, workshops, a conference on the “Future of Social Business” and social
business field trips. More than 600 participants from varying sectors and fields
participated.
Food Made in Albania creates access
to markets and stable income for
farmers and producers
YUNUS Social Business 27
YSB BRAZIL
Overview
Solar Ear based out of São Paulo, has developed the
first digital rechargeable hearing aid battery, which lasts
for 2-3 years and can be used in 80% of hearing aids
on the market today. It is solar powered and can be
charged via the sun, household light, or a cell phone
plug. Solar Ear also manufactures and sells the first
digitally programmable and rechargeable hearing aids,
which cost 10% of the market cost and meet WHO
standards. All products are assembled by young employees who are deaf. Solar Ear has been supported by YSB
Brazil through our accelerator program in 2014.
Over 200
“Social Business is more than a new way of doing business or a new way of solving
applications
social problems. It is a new mindset powerful enough to change behaviors and old
received
school beliefs that we still have as a society. More than help growing business that
matters, it is this new mindset that we want to promote in Brazil.”
Rogério Oliveira – Country Director
3 Accelerator
Program cycles
Social Business Portfolio
The local team
YSB Brazil, locally registered as Yunus Negocios Sociais Brasil, was launched in
March 2013 and is in the process of developing the first registered social business
fund in Brazil.YSB Brazil remains committed to enabling local entrepreneurs to
grow their social businesses while working heavily to spread the social business
concept in Brazil, particularly as Rio was declared a ‘Social Business City’ in 2014.
YSB Brazil’s Co-Founder and Country Director Rogério Oliveira has
significant experience as an entrepreneur, mentoring other entrepreneurs and in leading teams within
companies such as Warner Bros,
Johnson & Johnson, Nestle, UOL and
BRMALLS. Head of Investments and
of the Acceleration Program, Julia
Menezes Profeta was the founder
of an Innovation E-magazine and
has worked for companies such as
Johnson&Johnson, Robert Bosch
GmbH, Itau BBA, Rocket-Internet
in Brazil and advised several start-ups
to structure their businesses in the
country. Head of Rio Social Business
City Program, Taciana Abreu has prior
experience as Planning Director in
advertising agencies as McCann Erickson and extensive participation in
social programs within slums in Rio
de Janeiro. Educational and Institutional Relations Manager Ricardo
Rodrigues Mastroti has several years
of managerial experience at P&G,
Aracruz Celulose, InterCement and
Camargo Correa Group. Administrative and Financial manager, Francisco
Vicente has strong experience in
finance planning, accountability and
controlling activities in different areas
at Johnson & Johnson in Brazil.
Entrepreneur Services
A Social Business Lab is a one-day
immersion workshop to empower
entrepreneurs on how to design social
business solutions. By using creative
tools entrepreneurs generate prototypes of their enterprises aimed to
solve the social problems they wish to
overcome. Moreover, the SB Lab Tour
intends to empower and inspire social
entrepreneurs throughout Brazil with
12 workshops being planned to cover
12 Brazilian cities.
In 2014,YSB Brazil launched 3 cycles of accelerator programs, including 2 in São
Paulo and 1 in Rio. As part of the program,YSB Brazil offers its entrepreneurs an
office during the program, 2 mentors from BCG per social business during the
3 months, sector expert mentors, access to the YSB Brazil network, and preparation to pitch for financing. A total of 22 social businesses have been accelerated
through the process.
YSB Brazil remains committed to spreading the social business concept, in order
to enrich education in the region and shape citizens who are committed to social
challenges and prepared to lead social business. To this end,YSB Brazil hosts
several events throughout the year, including a Social Business Lab to empower
entrepreneurs, as well as an international partnership program whereby international graduate and undergraduate students have the opportunity to learn directly
from social business entrepreneurs. In 2014, YSB Brazil hosted over 25 events
and directly reached over 5,400 people through its media campaigns.
22 Social
YSB Brazil would like to thank its following local and global partners
• BCG for mentorship of our social business entrepreneurs during our Accelerator Program
• The Via Varejo Foundation for sponsorship of our Acceleration Program
• KPMG for pro bono auditing services
• Mattos FIlho for pro-bono legal advice
• Petra for its administration of our legal fund
Businesses
accelerated
YUNUS Social Business 29
YSB TUNISIA
Overview
410 completed
applications
“In 2011, Tunisia was the first country that started the Arab Spring movement, a
CIFEA is a beekeeping and honey production business
revolution that led to a democratic republic with a major participation of civil society
in Jendouba that aims to stimulate and develop the economic activity by creating a beekeeping centre providing
trainings for youth, proposing honey collection services
from local beekeepers and then selling honey and derivative products. After 5 years of activity, they expect to employ up to 22 people, and to have trained 160 beekeepers
in the region. CIFEA has been supported through YSB
Tunisia through our accelerator program in 2014.
institutions. Revolutionary fervor has also opened the door for social innovation,
thus paving the way for activities such as social business development.”
Leila Charfi – Country Director
80,000+ social media
shares for ‘Call for
Accelerator Program’
applications
2,300+
entrepreneurs
expressed interest
YSB TUNiSIA
The local team
Upon invitation of its founding partner African Development Bank, in 2013,
YSB created its Tunisia office to support the creation and development of social
businesses, which it delivers through its two main activities of business acceleration and financing. A Tunisian social business fund has been developed to provide
financing between $50,000 and $350,000 each to the most promising social
businesses.
YSB Tunisia’s Country Director
Leila Charfi comes from the telecom
industry and has prior experience in
managing Tunisia’s first private incubator, the Microsoft Innovation Center. Head of Investment and Global
Acceleration Camille Courtaud has
extensive experience in strategy and
operations through her previous work
at Roland Berger Strategy Consultants. Social business consultant Pedro
Telleria has expertise in financial
services, strategy and organizational
development through his work in
both the social and private sectors.
Entrepreneur Services
in program
In March 2014,YSB launched the call for application for the YSB accelerator,
program called iBDA (Arabic name meaning “Start!”), which is the first accelerator in Tunisia.
To learn more
11 projects were selected to participate, out of the 410 completed applications
received from the 24 governorates. These social businesses had a wide geographical
spread and covered various activity sectors such as agriculture, recycling, handicraft, tourism and citizen services.
about YSB Tunisia’s
Social Business Portfolio
accelerator, visit
Upon completion of its accelerator program, the local YSB team has been working with the 3 most promising social businesses in order to finalize all legal and
business requirements in order to provide financing. The first investments are
expected at the beginning of 2015. The local YSB team has also supported 6 of
the accelerated projects in their business development, access to finance and access
to market strategies.
www.ibda.tn
Fares Mabrouk, currently Global
Accelerator Head and the previous
YSB Tunisia Country Director, is
based out of Tunisia and continues to
provide the team strategic guidance
and support.
YSB TUNISIA would like to thank its following global and local partners
• Mazars for its key contribution during the course of the Accelerator Program in providing financial and accounting
expertise to entrepreneurs through delivery of a course and individual consulting sessions
• Yale World Fellows Program for sharing best practices regarding the selection process of the Accelerator Program
• JWT for its web graphic charter and Arabic concept customization
YUNUS Social Business 31
YSB UGANDA
Overview
“Permit me to congratulate YSB Uganda Country Office upon successfully
organising the Designing for Impact training. We look forward to attending
many more courses organised by YSB, like this one.”
Cassim Gibusawu - Social Entrepreneur
“We give Ugandans the necessary tools and finance to
become successful social business entrepreneurs.”
Eriab Kiiza - Country Director
More than 100+
YSB uganda
The local team
entrepreneurs
YSB Uganda began its operations in 2013 as a pilot program with the African
Development Bank devoted to promoting and creating an environment within
which social businesses can thrive in Uganda. In 2014, it was officially registered as
Yunus Social Business Foundation Uganda Ltd.
YSB Uganda’s Country Director,
Eriab Kiiza, has over 20 years’ experience in facilitating and mentoring
private businesses through Uganda
Investment Authority and Enterprise Uganda. He also helped set up
SME mentoring programs in several
African countries. Social Business
Consultant, Siraje Bazibu, has worked
as Grants Officer in grant management institutions for SMEs and Civil
Society Organizations, and has experience in Business Advisory Services
and support for MSMEs.
supported
Green Bio Energy (GBE) offers low-in-
come Ugandan families access to cheaper,
safer and more environmentally friendly energy solutions such as energy efficient cook
stoves, environmentally friendly charcoal
briquettes, and solar lamps. Improved cook
stoves and biomass briquettes will help to
reduce gas emissions, prevent deforestation,
preserve the environment, and alleviate
poverty through community empowerment
and awareness building. In 2015, GBE aims
to achieve household savings of over $1M,
67,000 tons of CO2 offset and over 500
micro-entrepreneurs trained and engaged in
sales. It will also educate the broader community of the benefits of using clean cook
stoves and briquettes.
Entrepreneur Services
YSB Uganda, in partnership with its extensive sourcing partners, continues to
source and work with entrepreneurs to develop their social businesses. In 2014,
we provided support to more than 100 entrepreneurs and 1 social business was
approved for an initial financing amount.
YSB Uganda further provides training to develop skills of local entrepreneurs, and
in 2014, partnered with African Management Initiative (AMI) to deliver a training
on ‘Designing Social Business for Impact.’
“It has been an absolute pleasure working with YSB
Uganda – [they] have been so responsive, organized
and motivated to ensure a great experience for
YSB Uganda would like to thank its following local and global partners
• Private Sector Foundation Uganda (PSFU), Makerere University Business School-Entreprenurship Centre, Interna
tional Labour Organisation- Youth Entreprenuership Facility (ILO-YEF) , Angels Hub and HIVE CO Lab that serve
as sourcing partners of potential social businesses
• Impact Carbon, Heifer International Uganda, Centenary Bank, Microfinance Support Center and OXFAM for their
collaboration in incubation and financing of social businesses in varying industries including agriculture, dairy and
milk processing and renewable energy
• B-Space for their invitation to YSB Uganda present and provide input at the Inclusive Business Forum
• Uganda Community Libraries Association for its support as YSB Uganda facilitates the development of community
libraries using a social business model
• Grameen Research Inc., for its support through a grant from the Bill and Melinda Gates Foundation, which aims at
strengthening and creation of community libraries in Uganda using the social business model
participants. We have really appreciated this!”
Rebecca Harrison - Executive Director African Management Initiative
YSB Uganda officially
registered as Yunus
Social Business
Foundation Uganda Ltd
YUNUS Social Business 33
PARTNERS & EVENTS
“Our collaboration with Yunus Social Business is emblematic of our new model
Partnerships and Events 2014
for development - a model that harnesses partnership and innovation to advance
sustainable solutions to some of the toughest challenges we face.”
Rajiv Shah – USAID Administrator
Corporate partnerships
The Boston Consulting Group: Setting benchmarks for corporate engagement in
social business
BCG has been a long-term partner and has been supporting us with pro-bono
cases, mentorship and volunteer consultants in the past. In 2014, BCG helped
YSB re-think how to measure impact and evaluate internal metrics of success. The
company has also kindly provided mentors to social businesses in our accelerator
programs.
Freshfields Bruckhaus Deringer: Developing legal models for social business
The corporate law firm kindly provided extensive pro-bono legal support and
helped us bridge the divide between charitable legislation and the social business
sector. This partnership has led to legal structures that are ground-breaking for the
future best practice of social business investing.
SAP: Implementing state-of-the-art systems for impact measurement and portfolio
management
Intrigued by the idea of scaling and optimizing investment processes for social
business, our long-term partner in Haiti, SAP, provided a tech donation to implement an SAP solution for fund management and measuring and evaluation.
USAID: Partnering for best practices to incubate social businesses
USAID and YSB have formed a Global Development Alliance committed to
incubating and financing social businesses worldwide. USAID believes in the
importance of YSB’s approach and hopes to learn from best practices. Haiti has
been the first YSB country to sign the partnership with USAID, and Uganda and
Albania are also in the process of forming the partnership.
African Development Bank: Incubating social businesses in Africa
In partnership with the African Development Bank,YSB is developing a social
business movement in Africa. Social business has become part of AfDB’s 10-year
strategic plan across the African continent. Our initiatives in Tunisia and Uganda
serve as pilots for further countries to follow.
Rockefeller Foundation: Creating innovating financial tools for social business financing
The Mazars Group has kindly offered its services to YSB to conduct an independent audit as well as provide taxation advise to YSB and its social businesses.
The Rockefeller Foundation is supporting YSB in identifying and developing innovative “results-based financing” solutions to leverage philanthropic and governmental capital to mobilize commercial capital for social businesses to address social
and environmental challenges in a financially sustainable way.
Via Varejo: Sponsorship of acceleration programs in Brazil
United Postcode Lotteries: developing sustainable solutions to social challenges
The Via Varejo Foundation has kindly sponsored our acceleration programs in
Brazil and continues to provide support to YSB Brazil through mentorship and
participation in our local demo days.
The Swedish and Dutch Postcode Lottery Foundation have partnered with YSB
over a 3 year period to support our efforts in accelerating and financing social
businesses around the world.
TOMS: Reseach of social business concept within its model
KIVA: Opening small-scale financing opportunities of social business for anyone
Yunus Social Business India and Sattva are delighted to have partnered with
TOMS in 2014 to research potential ideas for innovating within the TOMS One
for One model. The organizations worked with local communities in India to
research social business concepts as part of TOMS giving and local manufacturing
programs. TOMS and YSB India have conducted a joint project on the Indian
shoe production and distribution market to look at additional pathways to create
jobs beyond TOMS local manufacturing while continuing to serve populations in
need. In India, TOMS distributes shoes to children in need through its network of
Giving Partners to support health, education and sanitation programs.
YSB partnered with the crowd-funding platform KIVA.org to enable individuals around the world to lend to social businesses with microloans as small as 25
USD, with our social businesses receiving some of the largest loans ever financed
through KIVA.
Mazars: Auditing services and pro-bono taxation advisory for social business
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Partnership Highlights
The Robert Bosch Stiftung
The Robert Bosch Stiftung is supporting our accelerator program in Tunisia with
the goal to prepare, select and coach the most promising social business entrepreneurs.
YUNUS Social Business 35
PARTNERS & EVENTS
Partnerships and Events 2014
Initiating Exceptional Social Business Projects
Haiti Forest Initiative: Innovative approaches towards reforestation in Haiti
In Haiti,YSB has joined hands with Sir Richard Branson,Virgin Unite and the
Clinton Foundation to set up the Haiti Forest Initiative. In developing a social
business ecosystem, the initiative has two main objectives: 1) Increase tree cover
and regenerate the environmental benefits of trees; 2) Improve livelihoods of
smallholder farmers who are the key to breaking the deforestation cycle, and
igniting a reforestation dynamic.
“The private sector has an important role to play. As a primary
driver of innovation, investment and job creation, Social Business
It will be an innovative bottom-up approach to reforestation, setting up a chain
of interlinked social businesses that aim to create markets in agroforestry products, such as fruits, nuts, and oils. The social businesses not only cultivate, but also
engage in processing, thereby ensuring that economic value is created and retained
in the Haitian economy.
is well placed to help accelerate progress towards the Millennium
Development Goals by the agreed deadline of 2015.”
Ban Ki Moon – UN Secretary General
JV with Florida Ice and Farm Company: Fighting malnutrition in Costa Rica
We launched our first corporate social business joint venture with Costa Rican
leading food company, Florida Ice and Farm Company. The joint venture produces and sells enriched cereals, soups, and drinks to combat malnutrition, particularly
targeting children under the age of five in Costa Rica.
JV with McCain: Transforming the living conditions of farmers in rural areas
Through its Corporate Social Responsibility commitment, McCain approached
Prof. Yunus to start a social business to improve living conditions of poor farmers
worldwide. From among 8 countries, Colombia was selected for a pilot model
approach.
In 2014, Campo Vivo Negocio Social S.A.S. was launched as a corporate social
business joint venture between McCain and YSB, combining their respective
know-how in agronomy and social business incubation.
Campo Vivo intervenes the agricultural value chain by developing competencies
in small-scale farmers, strengthening the social tissue and promoting competitive
productive activities in vulnerable rural communities. It provides high quality
technical assistance and ensures entrepreneurial capacity building to farmers and
thus, increases family income, improves productivity levels and working conditions, and engages both men and women. It also strengthens the community by
fostering associations among farmers to cultivate collectively, while providing
individual family support.
Grameen Research Inc.: Building sustainable community libraries
YSB is implementing a project for which funding is provided by Grameen Research, Inc., who received a grant from the Bill & Melinda Gates Foundation,
which aims at developing new and existing community libraries in Uganda using
the social business model. Doing so will strengthen the libraries’ ability to serve
local communities by lowering the libraries’ dependence on grants and outside
funding. The community libraries will be open to all the members of the community, and will develop revenue generating activities that will allow it to sustain its
costs. Successful models will serve as blueprints for further replication in Uganda
and elsewhere.
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Creating Awareness
In 2013,YSB was involved in numerous events around the world to educate and
inform entrepreneurs, development organizations, foundations, policy makers and
global leaders about the potential of social business for international development.
These events spanned from local workshops to a number of high-level functions
with renowned representatives, with tangible results for local communities and
partners. A few highlights include:
Pitch and Demo Days, YSB Local Countries
In almost every country, we regularly organize “Pitch Days” at the end of our
Accelerator Programs. In a dynamic format, entrepreneurs get to pitch their business cases to an exclusive group of investors, experts and mentors. It helps them
to connect to potential funders and partners. It also marks the end of the program
and their official “graduation”. The day is the culmination of their several months’
worth of work to develop, test and verify their business cases. It is also a day where
we invite our partners to visit our country offices and get first-hand insights on the work we are doing on the ground.
World Economic Forum, Davos, Switzerland
Like every year,YSB attended the World Economic Forum to develop partnerships and share our work with thought leaders.
Haiti Forest Initiative launch, New York, USA
YSB attended a series of events including the Clinton Global Initiative, UN
General Assembly, Climate Week and others in New York City in late September. Further, in the presence of Richard Branson and the German Minister for
Economic Cooperation,YSB also announced a partnership with The Clinton
Foundation and Virgin Unite to launch the Haiti Forest Initiative, an initiative to
create an ecosystem of social business and reforestation efforts in Haiti. The fundraising event attracted many new philanthropic lenders and donors who pledged
to participate in this exciting initiative.
YUNUS Social Business 37
LESSONS LEARNED
Reflections from Our Work
lessons learned in 2014
Social business and YSB have grown in significance but also in maturity. The concept of social business,
as learned from successful experiences and lessons from Bangladesh, has proven to provide long-term
sustainable solutions to development.
At the same time, our work in 7 countries in the past few years has also afforded us some distinct opportunities for reflections to help us serve our entrepreneurs better.
In 2014, we specifically have learned the following:
Our entrepreneurs are our greatest assets
We operate on the ground in a highly dynamic environment where surely believed facts can be invalidated overnight. If the unexpected strikes, if assumptions do not hold true, if the very basis of a business plan
is invalidated, the strongest asset that can turn a venture around is the flexibility and strength of the entrepreneur and their team. The most important selection criterion for investment thus remains the entrepreneur and the team. In 2014, we have further renewed our commitment to focus on our entrepreneurs as
our customers, and have strengthened our Entrepreneur Services to complement our Financing activities.
Sequencing allows for flexibility
In an ever-changing environment that our entrepreneurs work in, we have learned that being adaptive
is key to serving our entrepreneurs. Instead of financing purely green-field businesses in one go, we are
developing financing tools allowing for smaller, more flexible financing tools for early stage businesses, to
be disbursed in installments. This allows our entrepreneurs to get their feet wet as soon as possible, while
limiting the risks to our philanthropic funders.
Cohort matters
Working together on ideas provides tremendous inspiration. Entrepreneurs deeply appreciate the possibility of exchanging opinions and diverse ideas on their social business cases with their peers. Building upon
this learning,YSB tested and launched 6 accelerator programs in 2014 and plans on launching at least one
such program in 2015 in almost all of the countries it operates in.
Nothing is tougher than reality
Instead of focusing on extensive and in-depth planning and market research, testing for market and
customer validation provides the greatest value to the success of the social businesses. Product testing has
now become an important part of the curriculum of our accelerator programs.
Social businesses thrive when there is access to expertise
Complementary knowledge and sector expertise provide a wealth of knowledge to our entrepreneurs.
We at YSB are thus making an ever increasing concerted effort to facilitate introductions to mentors and
sector experts who can provide focused and greater support to our entrepreneurs.
Our network is a valuable resource that we need to leverage better
As a start-up social business ourselves, our initial years have been focused on our own operations and processes to serve our entrepreneurs. We want to be better about catering to our stakeholders and involving
our extensive and immensely supportive network, as we believe that they can provide valuable insights to
help us strengthen our social businesses.
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YUNUS Social Business 39
SUPPORT US
Help Us Create Social Impact
You can make an impact by supporting YSB
In supporting YSB, you can help grow visionary social businesses
that tackle major problems in developing and emerging countries
around the world. Your support will help to screen, select, accelerate
and finance high-potential social business entrepreneurs that create
scalable impact in areas such as agriculture, education, environment,
health & sanitation as well as local economic development.
… with your expertise
Become a mentor for our social businesses or as a volunteer social
business consultant for YSB.
… financially
Become a philanthropic lender to our social businesses or make a
donation to support our accelerator programs.
… by becoming a part of YSB’s global network
Your Financial Support and Our Unique Model
While a traditional investor invests for financial gain, a philanthropic lender provides a loan to benefit society. A philanthropic lender’s goal is to maximize social
return on his or her loan and is thus motivated to support the most effective social
businesses.
We gladly accept donations to finance our social businesses and our incubation
work, yet, we do not ourselves donate to the social businesses that we work with.
We run our operations with the discipline of an investment fund, and we expect
our social businesses to operate as market-based private-sector companies. We believe that our financing model maximizes the long-term impact of philanthropic
capital in the following ways:
• Financing through lending rather than donations leads to the efficient and
revolving use of capital: each dollar is recycled multiple times, creating more
impact each time;
• Social businesses are financially self-sustainable, so they continue to generate
impact even after the initial loan is repaid;
• Requiring social business solutions to be at least break-even ensures that they
are more easily scalable and replicable.
For philanthropic lenders or donors, our model has specific advantages:
• Lending or giving to YSB ensures a more efficient and accountable use of
capital as compared to traditional philanthropy.
• The YSB structure ensures that philanthropic lenders can diversify across
countries and sectors.
• Traditional donors receive tax credits for their donations.
Learn more about YSB and our social businesses by joining one of
our networking events around the world or visit our country offices.
Donors
Philanthropic Lenders
Yunus Social Business - Global Funds (charitable)
Learn more by visiting www.yunussb.com/you
YSB Local Country
Get in Touch!
Bastian Mueller
YSB Partnerships
bastian.mueller@yunussb.com
+ 49 (0) 69 905590 30
www.yunussb.com
Social Businesses
YUNUS Social Business 41
www.YunusSB.com
Yunus Social Business
Niddastraße 63
60329 Frankfurt am Main
Phone: +49 69 905590 30
Email: contact@yunussb.com