Building on the success of previous crowdfunding campaigns, which reached their goal in a record three days, Yunus Social Business recently finalized a further partnership with a new social business in Kampala, Uganda, that provides essential income to the poorest residents of the city while improving the environment for all.
“We were overwhelmed by the success of our last two Kiva loans,” said Saskia Bruysten, CEO, and co-founder of Yunus Social Business. “Both Brazilian social businesses did amazingly well, and we’re thrilled that they’re now both well on their way to expanding their impact and serving more poor communities”.
Building on recent success, Yunus Social Business has launched crowdfunding for Savco Millers through Kiva, the world's leading online platform for lending to good causes. The goal is to reach USD$40,000 in 30 days, with the campaign kicking off on Wednesday 19th October.
Vist the Savco Millers Kiva page at www.kiva.org/lend/1163860
Savco Miller's’ Story
Life for Kampala’s plastic collectors is hard. Each day Kampala generates over 600 tons of plastic waste, which clogs vital drainage systems and pollutes rivers. As the city's poorest and most disadvantaged residents, plastic collectors often tread a thin line between crime and poverty with the sale of plastic waste representing a small but reliable income for many.
Savco Millers recycles plastic waste across Uganda turning it into environmentally friendly products like tree nursery grow bags. Working together with plastic collectors, Savco Millers offers training, protective equipment and a set price for all plastic collected. By cutting out middlemen and working direct with collectors Savco pays almost double the market price for plastic collected.
Norbert Okiring founded the company in 2007 and is passionate about improving the livelihoods of informal waste collectors. The loan will be used to expand its area of collection, and to increase the size of the processing plant, providing more income opportunities for plastic waste collectors.
Visit the Savco Millers Kiva page at www.kiva.org/lend/1163860
About Yunus Social Business
Yunus Social Business is a venture philanthropy group. We believe that business can be used to solve human problems. By turning philanthropic donations into investments in sustainable social businesses we tackle challenges traditionally addressed by aid agencies or charities. Our social businesses provide employment, education, healthcare, clean water and clean energy to half a million people worldwide.