The Social Business of Professor Yunus experienced for the first time in Morocco
The first "social business" thought out by Professor Yunus, 2006 Nobel Peace Prize laureate and Director of the Grameen Crédit Agricole Foundation, will be implemented in Morocco. Launched on the occasion of the 3rd edition of the Responsibility & Performance Meeting in Casablanca, this project will employ agricultural workers living in extreme poverty, while supporting girl’s schooling in the Berrechid area.
Led by Professor Yunus, the McCain company and three Moroccan agribusiness players, namely Agropros (production and distribution of seeds), Label'Vie (large-scale distribution) and Yozifood (distribution of potato production to professionals), this unique company in Morocco has taken the name of "Moulat El Kheir". This project has several particularities. Therefore, the shareholders who invest recover their investment over the years but without receiving any dividend as profits are reinvested into the company to promote its sustainability. In addition, the employees are all agricultural labourers who are facing extreme poverty. Furthermore, a portion of the profits from sales of potatoes at Lable'vie and fries from Yozifood will allow education, in particular for girls. "We have targeted a public institution in Douar in which nearly 300 children are enrolled, says Karima Essabbak-Ferjani. We will first take care of renovating the infrastructure, before building a library or buying useful educational tools”.