IKEA Social Entrepreneurship joins Take-a-Stake to support WASH and waste entrepreneurs in Asia and Africa
On 7 June 2022, WASTE advisers and the Take-a-Stake team travelled to Berlin, Germany, to celebrate the 10th anniversary of consortium partner, Yunus Social Business.
One of the highlights?
Together, we’re pleased to announce that IKEA Social Entrepreneurship (SE) has joined our Take-a-Stake initiative. Together, we are aiming to support 100 social businesses in the WASH and waste management sectors in East Africa, India and beyond.
The Take-a-Stake consortium is an initiative powered by WASTE and Yunus Social Business. We are bringing together the expertise of various impact funders to tackle the waste and WASH sectors in India and East Africa in a holistic way, built on the foundations of our Diamond Model—a multi-stakeholder approach for sustainable market development. The Take-A-Stake Fund is addressing financial and capacity building needs of viable and scalable small and growing businesses (SGBs). Quality and sustainable WASH and waste services are best delivered by SGBs.
We see they have:
Agile and low-cost management.
On-the-ground presence, which means better customer service, practical and locally minded.
The ability to address small and local markets that are otherwise unattractive for large companies.
The ability to generate innovative de-centralized solutions.
Additionally SGBs have a strong potential for growth – and thus for creating economic, social and environmental benefits. SGBs are a crucial backbone for regional economic growth and employment. However, despite their important role, SGBs lack access to finance, since they are too large for microfinance institutions (MFIs) and too small for institutional investors and banks. SGBs are the missing middle—stuck between micro-enterprises and larger businesses. By investing in these SGBs the Take a Stake Fund aims to address this gap and strengthen local economies.
IKEA SE joining hands with our Take-a-Stake team is a prime example of a top global corporation accessing social innovation through social business. More cross-sectoral collaborations like this are needed to create real impact that can scale.