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29 th September 2022 IST Yunus Social Business Center Brief to the speakers and panellists:
Our current civilization which is based on profit maximization has given us enormous successes:
going to the moon, technology, however, the current civilization has set us on a destructive path resulting in grave problems such as climate change and environmental degradation, wealth
concentration and rising unemployment.
It is imperative we design a new civilization to focus on solving problems of the people and the planet and contribute towards creating a world of three zeros; Zero net carbon emission; zero wealth concentration for ending poverty and zero unemployment by unleashing the entrepreneurial potential in all.
It is imperative that we take seriously the building of a new civilization that is more human centred. We need to rethink the role of business in our society. Social business aims at finding compassionate, practical, and long-lasting solutions to social issues while expanding opportunities for the people and the economy to end poverty in Africa. Social business is a non-loss, non-dividend company that exists to solve a social problems.
Africa scenario has been one of rising needs against limited access and exploitation of resources. The Covid pandemic cost the continent billions of dollars in GDP loses and pushed millions into
poverty. The pandemic led to loss of income of many poor households which depend on precarious livelihoods. Inclusive growth is growth that reduces poverty and inequality. Inequality has widened between and within African countries. Important elements of inclusive growth include better human development outcomes (health, education, fuel sources and so on), greater social inclusion, creation of productive and formal employment opportunities and environmental development.
Another key element of inclusive growth is to increase participation in economic activity and trade across income levels by increasing entrepreneurship and the employment of marginalized groups.
1. What are causes of poverty in Africa? What are the new drivers of the poverty in Africa?
• Multidimensionality of poverty (causes and effects)
• Intergenerational aspects of poverty
• Human rights aspects- labour conditions, economic migrants/migraiton
• Capabilities/Vulnerabilities aspects- digital integration, technologies development
• Economic-micro and macro; local and international; food and fuel prices; political instability
• Climate change
• Structural at global level- unequal trade, HR migration, extractive industries, commodity
prizes in international markets, regional trade disintegration, pharmaceuticals