Prof. Muhammad Yunus held a Public Lecture on The Power of Social Business on 10th of March 2018. Prof. Yunus is the founder of Grameen Bank, a bank that lends loans to poor women in Bangladesh to start and sustain their businesses. In 2006, Prof. Yunus and Grameen Bank won The Nobel Peace Prize for showing that even the poorest of the poor can work to bring about their own development.
The lecture, hosted by VIllgro Kenya was held in collaboration with Strathmore Business School presented an opportunity for social entrepreneurs to learn at the feet of the founder of the Social Business Concept.
Social Business as defined by Prof. Yunus is a new dimension for capitalism. This is a business model that does not strive to maximize profits but rather provides solutions to challenges and pressing needs within society thus causing social impact. This is the same business model Villgro Kenya is interested in especially for those health innovations that can serve those at the bottom of the social pyramid
In his lecture, Prof. Yunus poked holes into the current system that has convinced the youth that employment is the only way out.
“ Man by nature is an entrepreneur, employment was created by the system to help those at the top make more money. Start thinking like an entrepreneur and acting like an entrepreneur. People should wake up in the morning and say, I am not a job seeker, I am a job creator.”
The Professor of Economics urged the audience to take advantage of the various opportunities Kenya has for growth. “Kenya is a lucky country, you have everything; the land, water and good weather the opportunities here are enormous.”
He further urged social entrepreneurs to utilize the opportunity to benefit from a $5million non-profit fund launched by Yunus Social Business Kenya.
Yunus Social Business Kenya is a social business fund for tapping into the power of social business to provide solutions to social challenges. The new non-dividend company partnered with local companies to invest in sustainable social businesses.