Bangladesh Economic News

Entries categorized as ‘Corporate Social Responsibility/Social Business’

German company partners with Yunus over textile

November 13, 2009 · Comments Off

http://www.thedailystar.net/newDesign/news-details.php?nid=113842

German company partners with Yunus over textile

Dr Michael Otto, right, chairman of German company Otto Group, signs an agreement with Nobel laureate Muhammad Yunus, left, in Hamburg to create a joint venture social business for textiles in Bangladesh. Yunus Centre

Star Business Desk

Germany’s Otto Group has signed a deal with Grameen Trust to start a joint venture in textiles in Bangladesh, Yunus Centre said in a statement yesterday.

Under the deal, Grameen and Otto will jointly set up Grameen Otto Trust and Grameen Otto Textile Company.

Grameen Otto Textile Company will establish a factory in Bangladesh to produce readymade garments for the international market under “socially and ecologically sustainable conditions”.

Otto Chairman Dr Michael Otto and Nobel laureate Muhammad Yunus signed the deal at the headquarters of the German company in Hamburg.

Otto Group is a leading family-owned international trading and services corporation with 123 major companies and 50,000 employees in 20 countries.

Otto is the largest mail order company in the world and second only to Amazon to have the largest online marketing.

The signing ceremony was held at the end of Yunus’ visit to several German cities to attend the 20th anniversary celebrations of the Fall of Berlin Wall, Nobel Peace Laureates’ Summit, Vision Summit and Social Business Summit.

“Under the principles of social business, as developed by Prof Yunus, investors cannot receive any profit beyond recouping the actual investment,” the statement said.

“All profits from the joint venture will be used exclusively for reinvestment in the factory to provide modern technologies and humane working conditions,” it said.

It is the first social business partnership in the textile business that aims to apply the highest ecological standards in production.

“Otto Group has committed to establishing more factories in Bangladesh, based on the success of the first factory, and also promote this new social business model to the countries in Africa,” the statement added.

Categories: Corporate Social Responsibility/Social Business · Textiles/Ready Made Garments/Accessories/Footwear/Sports Goods

Grameenphone partners with Microsoft

November 6, 2009 · Comments Off

http://nation.ittefaq.com/issues/2009/11/06/news0796.htm

Grameenphone partners with Microsoft

Business Report

Grameenphone Ltd. partnered with Microsoft to use Microsoft Digital Literacy Curriculum in order to increase IT literacy among the rural people across the country. The agreement was signed at the GP head office in Gulshan on Wednesday.

The Digital Literacy Curriculum a unique e-learning module which will educate people on relevant IT skills such as basic computer skills; accessing the internet and world wide web; using productivity applications; understanding computer security and privacy; and leading a digital lifestyle.

All the contents will be in Bengali and is targeted towards the rural students, unemployed youth and women. The curriculum will be disseminated through the over 500 Grameenphone Community Information Centers (GPCIC), and other vehicles of GP CSR initiatives (Info Boat, Alok deep and other educational institutions) located across the country.

Sandi Thomas, General Manager, Communication Sector, Microsoft Asia Pacific, and Feroz Mahmud, Country Manager, Microsoft Bangladesh were present from Microsoft while Grameenphone CEO, Oddvar Hesjedal and Chief Marketing Officer, Arild Kaale. Kazi Monirul Kabir, Chief Communications Officer and Odd-Egil Aasen, Director, Internet Services, Commercial Division of Grameenphone were also present on the occasion.

In the agreement between GP and Microsoft, Microsoft will be the licensor, GP will be the Licensee and CICs & other CSR initiatives (Info boat, Alok Deeps & educational institutions) will be the authorized centers.

Microsoft is providing this digital literacy curriculum including examination free of cost for this initiative. Under the terms of the agreement Microsoft will provide licensed e-Iearning content to each authorized GPCIC, Alok Deep (non-formal school-cum-cyclone shelters), Information Boat (Tothya Tori) and educational institution.

Through e-Iearning, users will be able to access and learn through online digital , literacy resources with the provision for online assessment tests through the GPCIC website. The assessment modules will be certificate tests and successful candidates will be presented with a certificate of their achievement.

Grameenphone strives to deliver information and communication based services in rural community for socio-economic development.

Categories: Corporate Social Responsibility/Social Business · Information Technology

Mercantile Bank donates Tk 2.5m to cancer hospital

November 6, 2009 · Comments Off

http://www.thefinancialexpress-bd.com/2009/11/06/83521.html

Mercantile Bank donates Tk 2.5m to cancer hospital

Mercantile Bank Foundation handed over a cheque for Tk 2.5 million as donation to Ahsania Mission Cancer Hospital at a simple ceremony in the city Wednesday.

Dhaka Ahsania Mission President Kazi Rafiqul Alam received the cheque on behalf of the organisation.

Speaking on the occasion, chairman of the bank Md Abdul Jalil MP said banking service is not merely for earning profit, it also plays a role for the welfare of the society.

With this view, Mercantile Bank Foundation has been working from its inception. One per cent of profit or Tk 4.0 million, whichever is higher, is transferred to the fund of the Mercantile Bank Foundation from each year’s profit earned through banking services of Mercantile Bank Ltd and the fund is spent for the welfare of the society.

Rafiqul Alam thanked the bank for its donation to the cancer hospital fund as its corporate social responsibility.

Categories: Corporate Social Responsibility/Social Business

Mercantile Bank to build charitable hospital

October 20, 2009 · Comments Off

http://www.thefinancialexpress-bd.com/2009/10/20/82028.html

Mercantile Bank to build charitable hospital

FE Report

In a developing country like Bangladesh, the poor and underprivileged sections of the society are often deprived of the basic human rights of access to education and healthcare.

Responding to such socioeconomic disparity, a private commercial bank, the Mercantile Bank Ltd, is currently planning to establish a charitable hospital for the treatment of the poor people.

The bank says it also has a plan to establish a school exclusively for the education of the indigent students.

The latest move is part of a series of corporate social responsibility (CSR) activities carried out by MBL in recent years. According to statistics of the bank, it spent Tk 15.115 million in the year 2008.

“The Mercantile Bank Ltd, among other things, is committed to the welfare of the society through these activities which extends to every aspect of national development including education, health, disaster management and sports,” Monindra Kumar Nath, Deputy Managing Director of the bank said.

One of the greatest accomplishments of the bank was its sole sponsorship of Amar Ekushey Granthamela-2009 held earlier this year for which it donated Tk 3.2 million.

Earlier, the bank sponsored Dhaka International Trade Fair-2008 along with other business houses. The bank granted Tk 2.1 million for the construction of the grand entrance of the fair.

Major CSR initiatives of the Mercantile Bank also include the construction of two permanent Murals of Bir Uttam M A Rob and Bhasha Sainik Justice Abdur Rahim in the city at a cost of Tk 900,000.

Each year the bank donates 1.0 per cent of its operating profit or Tk 40 lakh (which ever is higher) to its CSR arm – the Mercantile Bank Foundation. Accordingly the total amount of donation to the foundation in 2008 stood at Tk. 10.0 million.

“The foundation established in the year 2000; strives to preserve and promote cultural heritage and support artistic expressions,” the bank said.

In upholding this spirit, Mercantile Bank Foundation assists research activities on Bengali literature through Bangla Academy. It also supports the writers and publishers through purchasing their books and distributing these to different educational institutions on the occasion of national and other important days.

Every year, the foundation also provides awards to eminent personalities of the country for their contributions. Beginning in the year 2002, the annual ‘Mercantile Bank Foundation Award’ has so far honoured a number of renowned personalities in the country for their contributions to Bengali language and literature, education and culture, research on liberation war, economy and research on economy, commerce and industry, medicine, science and technology, journalism and sports.

In addition, the foundation is also providing financial support to various educational institutions, hospitals and clinics in various parts of the country.

The Mercantile Bank’s CSR initiatives extend widely to the sports arena as well. Last year, as the sponsor of the National Swimming Championship Competition-2008, the bank donated Tk 1.0 million for staging the tournament.

Simultaneously, the bank also sponsored the International Junior Tennis Championship and a Golf Tournament during the same period. In addition, it also provided a donation of Tk 700,000 to Bangladesh Swimming Federation for staging the Indo-Bangla Swimming Competition.

Categories: Corporate Social Responsibility/Social Business

Beximco Pharma donates Oseflu capsules for Swine Flu treatment

September 14, 2009 · Comments Off

http://www.theindependent-bd.com/details.php?nid=142218

Beximco Pharma donates Oseflu capsules for Swine Flu treatment

Economic Reporter

Leading drug manufacturer Beximco Pharmaceuticals Ltd. (BPL) on September 13 donated 5000 pieces of Oseflu (Oseltamivir) capsule to ICDDR,B as a gesture of BPL’s support for the swine flu affected community of the country.

This donation was a part of BPL’s ongoing CSR activities as a response to this major public health problem.

Beximco Pharma is the pioneer in introducing Oseltamivir preparation is Bangladesh. Back in March 22, 2006, Beximco Pharma introduced Oseflu capsule for the prevention and treatment of human cases of Avian Influenza (H5N1).

Besides its use in Bangladesh, Beximco Pharma also supplied Oseflu in ASEAN countries, Central America and Latin America for the treatment of Swine flu affected people.

Beximco Pharma has also started a public awareness programme against swine flu which comprises public awareness posters, inserts, patient information guide, sticker and advertisement in the newspaper.

Regarding the donation of the drug, the Beximco Pharma’s Managing Director, Nazmul Hassan, MP, said, “Beximco Pharma always likes to work together with reputed organizations like ICDDR,B in public health related issues.

Bangladesh is under great threat of facing consequences of Swine Flu and it’s everyone’s combined effort that can create a strong resistance against this deadly disease in Bangladesh.”

Dr. Mark Pietroni, Medical Director of ICDDR,B also spoke on the occasion of handing over the medicine and said, “We welcome this nice gesture of Beximco Pharma that would be of great help for patients coming to us for the treatment of Swine Flu”.

As a part of its public awareness programme, the company has also opened a ‘24 hour Swine flu Hotline (01711-438-139)’ for all to provide information on Swine Flu and its management.

Categories: Corporate Social Responsibility/Social Business

Grameen forms jt venture with German company

March 8, 2009 · Comments Off

http://nation.ittefaq.com/issues/2009/03/08/news0649.htm

Grameen forms jt venture with German company : BASF Grameen Ltd established for better nutrition and protection against insect-borne disease

NATION BUSINESS REPORT

BASF SE and Grameen Healthcare Trust on March 5 announced the establishment of a joint social business venture, according to a message received from BASF in Ludwigshafen, Germany.

Dr. Jurgen Hambrecht, Chairman of the Board of Executive Directors of BASF SE, and Dr. Muhammad Yunus, Nobel Peace Prize Laureate and Managing Director of Grameen Bank, signed an agreement in Ludwigshafen to establish a joint venture called BASF Grameen Ltd.

The purpose of the company is to improve the health and business opportunities of the poor of Bangladesh. BASF Grameen Ltd. will start by utilizing two products from BASF’s portfolio: dietary supplement sachets containing vitamins and micronutrients, and impregnated mosquito nets that offer protection against insect-borne disease.

Social commitment with an entrepreneurial twist

“Our social business joint venture is intended to empower people to take part successfully in business life,” said Hambrecht. “The more people who do so – be they business partners, customers or employees – the better the economic and social development of a country and its population. Investing in people’s entrepreneurial skills is therefore part of corporate responsibility.” Social business is a new business model for BASF. The idea is for a business venture to serve a social purpose, cover its own costs and recoup the partners’ initial investment. Any additional profits are reinvested fully in the company.

“BASF Grameen Ltd is not a charity. It combines business sense with social needs,” stressed Yunus.

According to the WHO World Malaria Report 2008, Bangladesh had an estimated 2.9 million cases of malaria in 2006 and 72 percent of the population is at risk of the disease. Bangladesh also has some of the highest child and maternal malnutrition rates according to the UNICEF State of the World’s Children Report 2008. Approximately 8 million children under the age of 5 years are malnourished.

“In the long term, we can better help these people through a business model that offers them beneficial products and services at affordable prices rather than through charitable donations,” said Yunus.

Microcredits to combat malaria and malnutrition

Given the substantial need for dietary supplements and mosquito nets, BASF and Grameen have decided to locate their joint venture with these two products in Bangladesh.

The joint venture will initially operate from the BASF’s site in Dhaka, the country’s capital. Alongside an initial investment of €200,000, BASF will contribute the funds for one million sachets of vitamins and micronutrients and 100,000 mosquito nets to the joint venture.

Grameen’s contribution includes its knowledge of the market, distribution structures and networks in Bangladesh.

In the initial stages, the dietary supplement business will focus on large consumers such as schools, and established distribution channels such as pharmacies. This will familiarize people with the benefit of the sachets as part of everyday nutrition and for healthy nutrition. In the medium term, the products will also be sold directly to end users via established Grameen networks. In towns, the impregnated mosquito nets will be sold in food stores, clothing stores and pharmacies. In rural areas, agricultural wholesalers will sell the malaria protection nets in association with the Grameen network and will also instruct purchasers in their use.

Grameen Bank plans to provide microcredits to support people in setting up their own distribution outlets and in funding the purchase of mosquito nets.

“Social business is an excellent way of creating value from values, and BASF is seizing that opportunity,” said Hambrecht. “Our market-oriented joint venture will provide long-term help in addressing social challenges in Bangladesh. In addition, it will allow BASF to explore new markets and customer groups.”

BASF is the first DAX30 company and the first chemical company in the world to set up a social business with Grameen.

Categories: Corporate Social Responsibility/Social Business

Grameen Shakti wins over $1m Abu Dhabi prize

January 21, 2009 · Comments Off

http://www.newagebd.com/2009/jan/21/busi.html#4

Grameen Shakti wins over $1m Abu Dhabi prize
Bangladesh Sangbad Sangstha . Dhaka

Grameen Shakti, a member of the Grameen family that provides renewable energy services across the country, won over one million dollar ‘Zayed Future Energy Prize’ at second World Future Energy Summit being held in Abu Dhabi.

According to a message received in Dhaka on Tuesday, Dipal Chandra Barua of Grameen Shakti received the award from the Crown Prince of Abu Dhabi and deputy supreme commander of the UAE Armed Forces General Sheikh Muhammad Bin Zayed Al Nahyan.

Grameen Shakti was founded in 1996 as a not-for-profit company to provide solar, bio-gas, improved cook stove and wind energy in remote rural Bangladesh. Till date it has provided two lakh solar units at an affordable cost with easy loan system.

Principal patronage of the movement, the Crown Prince of Abu Dhabi opened the World Future Energy Summit in National Exhibition Centre Monday.

In order to encourage the clean energy movement, the high profile ‘Zayed Future Energy Prize’ has been introduced. Over 200 persons and companies were in the race to win this prestigious award.

The jury was chaired by Dr RK Pachauri, chairman of the IPCC and the Nobel Peace prize laureate. Stunning the jam-packed crowd at the award ceremony Monday evening, Grameen Shakti was declared as the winner of the prize.

Categories: Corporate Social Responsibility/Social Business · Environmental/Green

Bangladesh to send medicine to Palestine soon

January 21, 2009 · Comments Off

http://www.theindependent-bd.com/details.php?nid=112033

Bangladesh to send medicine to Palestine soon
UNB, Dhaka

Bangladesh will soon send medicines as humanitarian aid for the war-wounded Palestinians in Gaza.

Palestinian Ambassador Shaher Mohammad stated this to reporters after meetings with Foreign Minister Dr Dipu Moni and State Minister Dr Hassan Mahmud at the Foreign Ministry yesterday.

The Ambassador highly appreciated Bangladeshi people standing beside their Palestinian brothers as well as government’s big role and diplomatic approaches to the USA, the UK and China for immediate halt to the “barbaric” attacks on the people in Gaza.

Asked about the role of OIC in resolving the humanitarian crisis in the valley, the Ambassador said, “We need more unity between the Arabs and Muslim countries.”

Asked whether he thinks the US policy on the Palestine-Israel issue would be changed with Barack Obama as new President of the United States, the Palestinian diplomat said he hopes so.

“We may see a change next week,” he said about the Obama presidency that commenced just as the envoy expressed his note of optimism about a change, the election-campaign theme of the first African-American President.

Categories: Corporate Social Responsibility/Social Business

Animal husbandry can boost economy in char areas in Rangpur

January 19, 2009 · Comments Off

http://www.thebangladeshtoday.com/archive/January%2009/19-1-2009.htm#national

Animal husbandry can boost economy in char areas in Rangpur

BSS, Rangpur

The socio-economic condition of the downtrodden char people living on the river basins in greater Rangpur can be changed through proper exploration of the huge prospects prevailing there in animal husbandry sector.

Many people living in the sandy char lands in the Brahmaputra, Dharla and Teesta basins in greater Rangpur have been changing their fates successfully through animal husbandry despite a lot of hurdles in their efforts, char people said.

Rangpur-Dinajpur Rural Service (RDRS) under the government’s Char Livelihood Project (CLP), Grameen Pisciculture and Livestock Foundation, BRAC and some other NGOs are now playing important roles to promote the sector in these char areas.

Experts said increased attention of the government and its concerned departments could accelerate boost the sector to eradicate poverty and monga once for all from the poverty-prone char areas.

Many of the char people have already achieved notable successes in recent years and are living in better conditions with newer hopes for their next generations, experts and char people said.

Some of them have achieved complete self- reliance through rearing cows, goats, sheep and poultry birds though they struggled for survivals and depended mainly on relief goods during the annual lean periods and floods for decades together. The char people alleged that most of the NGO operators could bring no changes in the char economy by their activities, including micro- credits during the last 37 years though a revolutionary change could be brought there through only animal husbandry.

“To change out fates, we started our own journey through exploring the huge prospects of animal husbandry in char areas, achieved successes and hoping for more successes if the prevailing prospects were properly explored,” they said.

Earlier, the char people could grow almost nothing except some vegetables in the sandy-chars, but are now expanding animal husbandry on commercial basis and the sector is boosting fast.

They are also cultivating various crops like maize, wheat, tobacco, water melon, pulses, kaun, vegetables and engaging their limited efforts now in the handloom and cottage industries to change their economic condition for better life.

The huge natural green grasses available in the barren char areas on the rive basins encouraged the char people for rearing cattle heads over the years but they are yet to get adequate supports for the purpose.

Presently, hundreds of cows, buffalos, goats and sheep are found in the green grass fields everyday and cowboys are found taking bathes with their animals, hundreds in number in the rivers.

Some char families have been rearing those on commercial basis and earning profits to add to their capitals after meeting their expenses for living and their children are going to the schools.

Thus the char economy and life are flourishing as animal husbandry becomes popular despite manifold problems and the char people are supplying huge number of healthy sacrificial animals to the markets to keep the prices lower in recent years. They are selling cows, goats and sheep after their proper fattening but not getting proper market and fair prices of huge milk for lack of diary factory or milk processing industries or preservation facilities in the char areas.

Only RDRS has been collecting some portion of the milk from the char areas and supplying to the milk chilling plant of BRAC at Ulipur in Kurigram for processing, but the facility is quite inadequate.

Kuddus Ali, Julekha Begum, Abdul Karim, Johura Khatun, Ambia Khatun and others of different char villages in Chilmari upazila on the Brahmaputra recently narrated BSS the problems being faced and successes they achieved in recent years.

“We are also earning good incomes by rearing chickens, ducks and other poultry birds which have become our hopes and sources of inspirations in dreaming a better future for our next generations,” they added.

The char people identified the main problem of saving their animals during the flash floods for lack of necessary high lands and flood shelters when they become bound to sell their animals in throwaway prices.

“If diary farms, milk processing and preservation facilities are set up, animal vaccines are supplied, easy-term adequate loans are provided, the char people can contribute a lot in improving their own fates,” Nurul Amin Sarker, editor of the Weekly Janopran in Chilmari said.

Upazila Coordinator of CLP Tarikul Islam and Community Development Supervisor of CLP Abul Kalam Azad today told BSS that 5,672 cows have been distributed among 2,836 poor char families in three unions of Chilmari upazila during the past three years.

“We will complete distribution of more 2,600 cows among 1,300 families of these three unions of Ostomir Char, Noyarhat and Chilmari Sadar under Chilmari upazila of Kurigram on the Brahmaputra by the next two months period,” they added.

Categories: Corporate Social Responsibility/Social Business · Poverty Eradication

Grameen Danone Foods enters Dhaka market

January 19, 2009 · Comments Off

http://www.thedailystar.net/newDesign/news-details.php?nid=71797

Grameen Danone Foods enters Dhaka market

Grameen Danone Foods Ltd entered Dhaka market yesterday with its nutrient-rich ‘Shakti’ brand food items to build a cushion against the subsidy it provides for selling the products at cheaper rates among the rural poor.

Grameen Danone says for now it will sell the products at higher prices in the capital to build a price leverage to sell those at lower prices in rural areas.

“We will sell our products in Dhaka with a margin aiming to sell those at lower prices to poor people in remote areas to help them get nutrient-rich food,” said Chairman of the company Nobel laureate Muhammad Yunus at a press conference in Dhaka yesterday.

The company will sell its items, now three in product line, at Tk 10 and Tk 12 in Dhaka compared to the prices it charges now in northern part of the country, Bogra, in between Tk 5 and Tk 7.

Grameen Danone, a joint venture between Grameen Group and global leader for food products Groupe Danone, moves to enter Dhaka market as it incurs losses due to selling products at lower prices in rural areas.

Starting its journey in early 2007 with an aim to stand up as a social business enterprise, Grameen Danone had promised to offer its ‘Shakti Doi’ at a cheap rate to help poor people, mainly children and women, get nutrient-rich foods.

But soaring price of liquid milk amid stiff competition between milk processors and sweetmeat makers has held back Grameen’s vision to sell yogurt at a cheaper rate of Tk 5.

“When we started our journey, the price of a litre of liquid milk was Tk 17. Now a litre of milk costs from Tk 30-32. We are facing difficulties in maintaining low prices of our products due to such a rise in milk price,” said Yunus.

The company is selling Shakti products at subsidised rates in rural areas, he said.

Grameen Danone now runs a plant in Bogra, which currently processes about 300,000 cups of milk a month.

Established with an investment of around one million euros, the Bogra plant is the first one of the company’s planned 50 plants that are expected to be set up across the country in the years to come.

Categories: Corporate Social Responsibility/Social Business