The Government of Albania and the German Company, “Yunus Social Business” have signed a joint agreement to jointly implement the “The Social Business Movement in Albania”, a national program of activities for the promotion, support and financing of social businesses in Albania, which will begin on 1st April 2012. The signing ceremony was held at the Ministry of Labor, Social Affairs and Equal Opportunities with the participation of Minister of Labor, z.Spiro Ksera, Executive Chief Officer of Yunus Social Business Mrs. Saskia Bruysten Yunus, and the Executive Chief Officer of Company “Nxitja e Biznesit Social” Ms. Ardita Bonatti. A social business is a business whose mission is to address a social or environmental need in a financially sustainable way. Its costs are covered by the revenues it generates. The concept of social business has been developed by Prof. Muhammad Yunus, the Nobel Peace Prize winner in 2006. Prof. Yunus is the Chairman and founder of the company “Yunus Social Business”.
The activities of the Social Business Movement of Albania will include:
- Incubation of social businesses: consulting & network-building for social business projects and entrepreneurs
- A social business venture capital fund: investment for the best social business projects
- A social business ideas contest: business plan competition & roadshow across Albania
- Partnerships with local authorities: create “social business municipalities”
- University activities: lecturing, student activities and collaboration to include social business in their curricula
- Public awareness-raising: media reports, social business “ambassadors” & public events
- International exchange and investment: bring the extensive Grameen/Yunus social business network to Albania
The project will focus on the needs of the poorest and the most vulnerable members of Albanian society. Beyond the direct social and economic impact of the social businesses that are created and developed thanks the Movement, the successful social business entrepreneurs and projects will serve as examples and catalysts for other entrepreneurs and projects in Albania.