Text from grameensocialbusiness
The Yunus Monaco Found is a joint-venture between the Monaco Venture Capital & Private Equity Association (MVCA),
Prince Albert Foundation and Grameen Trust. Its main objective is to finance and develop social businesses in Africa. The
initial focus of the Fund is aimed at Tanzania, Burkina Faso, South Africa and Madagascar.
The Found will provide
several types of financing for Social Businesses, such as equity support, loans, project financing and others. Monaco investors
will provide the initial fund of 100,000euro and Grameen will contribute with a token amount of 10,000 euro.
will combine Grameen vision and knowledge through the Grameen Social Businesses, the Grameen Creative Lab and the Yunus Centre
(Dhaka) with the local knowledge and sector expertise of the Monaco's Office of International Cooperation & Development
and Monaco Social Business Association. The Found will operate through the Social Business Centers (SBC), business units managed
by local executives which are going to do the screening, training, investment decision, mentoring and SB developments. The
main goals of the SBC are:
- to finance and develop social businesses.
- to provide business tools
to the community and develop technology which can be utilized by the youth.
- to make the village as a center
of economic and social activities promoting the return of its members through employment creation and business opportunities
Social Business Training Program
In order to optimize the success of the business, its support
and finance, the SBC will organize Social Business Training Program (SBTP). These trainings will be a suitable environment
to build professional relationships and transfer professional skills among local and foreigner participants. The program will
also deal with business plans development and implementation and will provide advice and monitoring. The SBPT will allocate
a percentage of its resources to expose youth to various professional disciplines and offer them computer training as well.
Fellowship and Mentorship program
The Yunus Monaco Fund Fellowship Program allows
young people, sponsored by university or any other institution, to contribute in the creation and building of Social Business.
A number of Fellow Partnerships with universities in Europe will be created.
The Yunus Monaco Fund Mentorship Program
allows experienced people to contribute in the creation and building of Social Business. Mentors will guide both the Fellows
and the local social businesses with their experience, knowledge and network.
Social Business Corporate
The Corporate Partnerships is a key part of the investment strategy of the Fund. Social Businesses
are created with a partner who actively contributes to build effective and sustainable local businesses. The areas where contribution
can be made are: cutting edge technology, expertise, human resources and general assistance. Veolia, Danone and BASF are examples
of this kind of partnership in Bangladesh.
The Yunus Monaco funds aims to
empower people by supporting social businesses developments in Africa. The financing and building of social businesses will
provide employment and growth that will help to achieve specific social goals.