Parallel to the General Assembly of the UN, the world economic forum in New York, the “Sustainable Development Impact Summit”. There, everything revolves around sustainable entrepreneurship.
It is a very special Moment for Muhammad Amjad Saqib as he is called on to the stage in New York. The Pakistanis will be awarded to this day by the “Schwab Foundation for Social Entrepreneurship”. The great appearance is not made for him. He modestly stands on the stage, along with the other social entrepreneurs who will be honored this evening for their outstanding work with the “Social Entrepreneurs of the Year”award.
Interest-free loans for the poor has been introduced to Saqib in Pakistan with his organization “Akhuwat”. At first, this might sound crazy, because actually want to earn the most money when they make loans. Also in the case of micro – or micro-credits are normally required high interest rates. 30 percent and more are common. Not so in the case of Saqib.
Muhammad Amjad Saqib (right), together with the other “Social Entrepreneur of the Year 2018”-award winners in New York
Micro-loans without interest
“How can you fight poverty, if it requires such high interest rates?”, Saqib outraged and refers to the family. Brothers or sisters would help each other – to calculate without interest. This model was the impetus for his work in Pakistan. Donors give money to do Good. This money is put in a Pool and is interest-free give out as micro-credit to the needy. The reasons with the money-for example companies and create jobs. Since the inception of Akhuwat 17 years ago, the social enterprise has brought about $ 600 million in the financial cycle. “Akhuwat” is Urdu and means brotherhood.
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Applause there is this evening in the “Lotte New York Palace Hotel” not only for him but also for the other, the drive with your company’s social changes. In the audience, Christine Lagarde, Head of the International monetary Fund, Al Gore, former Vice President of the United States, and Jack Ma, founder of Chinese Internet giant “Alibaba”. “Never give up” Lagarde adds to the price-makers and Ma: “Do the things you believe in.”
The idea of social change
The idea of social entrepreneurship, Entrepreneurship, Social, more and more attention, thanks to the Schwab Foundation. 20 years ago, founded the Hilde and Klaus Schwab Foundation with the aim of promoting social innovation. “We wanted to give the people a voice, but we wanted to not philanthropy,” says Hilde Schwab. She and her husband Klaus are actually for a completely different Organisation: the world economic forum, which hosts, among other things, each year in January the famous summit in Davos.
Yet, somehow, the companies that create social change or promote the purpose of the company is about pure Profit, in addition to only limited attention. The Schwab’s wanted to create the change, and a private network. Well, you have.
In the past years, 350 were awarded to social entrepreneurs. Many got the opportunity to meet the Powerful from politics and business and to promote their ideas.
The network is important
“I’m learning and don’t understand that I’m not alone”, Odeh told Maysoun. The Palestinian woman has founded three radio programs for women. “NISAA” as the media called the company, reported on issues found in the traditional media less space. Domestic violence is such a topic, or hands-on the effective marketing of products.
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Woman radio in Ramallah
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Woman radio in Ramallah
“Only 19 percent of Palestinians working outside the family,” says Odeh, but many home things for the daily use, bags, or certain foods. How you can market it, don’t know you but often. “We give tips and are not only interesting to women,” says Odeh. In 2015, she was awarded as social entrepreneur of the year.
Entrepreneurs that move something
The Schwab’s are visibly proud of what they could achieve until now. “The social entrepreneurs of today will be the heroes of tomorrow,” proclaimed Klaus Schwab. Side-by-side with social entrepreneurs, he seems to feel especially comfortable. Friendly he can be long with the price of shooting modes. Then Al Gore, Ex-Vice-President of the United States. “I’m really excited,” he calls into the room, and not just the Schwab’s applaud enthusiastically.