Dated: March 2008
The Soweto Chamber of Commerce & Industry (SCCI) and two South African NGO’s, Teboho Trust & The National Rural Development Programme (NARDEP), today announced a joint venture with the developers of Community 100 Empowered - a ground-breaking socio-economic funding model which ensures that 100% of donor funding reaches the intended beneficiary.
Comments NARDEP’s CEO – Dr. Funiwe Jaiyesime-Njobe: ‘Our research indicated that, despite an abundance of funding initiatives, willing donors, countless social economic development and poverty alleviation programs, very little impact was felt by intended target beneficiaries at grassroots community level.’
‘We identified that in many instances, the traditional structure of funds flowing through intermediary service providers often results in very little in the way of social economic development funding trickling down to where it matters most. We searched for a way to change that model without becoming part of the problem ourselves.’
The Community 100 Empowered model allows for up to 100% of project donor funding to find its way into the hands of intended target beneficiaries to spend on needed products and services of their choice within their own formalised economic hub.
SCCI President Nancy Nxumalo says: ‘Our Soweto Chamber of Commerce & Industries looks looks to stimulate the development of sustainable economic hubs within Soweto. This innovative community-ownership model allows Soweto householders to purchase goods that they want from their own local co-operative retail mini-stores.’
The aim of each economic hub is to directly service the organised mass-spending power of the newly empowered beneficiaries at rates better than or equal to that which they currently achieve in their local informal economy.
Adds Nancy: ‘Our aim is to encourage the collaboration of recognisable national brands to participate in developing multiple local co-operatives in Soweto, each serving and owned by as few as 100 households. We see it as a stimulant for the micro/small business sector and a recognition of the true value of the collective spending-power inherent in every household in Soweto.’
Concludes Teboho Trust’s Hugh Dalton: ‘We can now offer donors and corporates a significant return on social investment (ROSI) with 100% transparency, governance and transparency by ensuring that up to 100% of funding reaches its target.’
Contact:
Nancy Nxumalo - 082-922-8389 - nancynxumalo@gmail.com
- President: Soweto Chamber of Commerce & Industries
Community100Empowered – 083-627-8191 - Ivan Andersen - ivan@tsf.co.za
- Business Support Software Development
Monday, April 7, 2008
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