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Media »Mobilizing Inclusive Business in Myanmar to Address COVID-19 Challenges

May 5, 2020

 

Yangon, Myanmar: In direct response to the COVID-19 crisis, the UK aid-funded DaNa Facility and the BoP Innovation Centre are offering an innovative ‘Inclusive Business in Myanmar’ online course free of charge to all businesses in Myanmar from 27 April to 30 June 2020.

 

Inclusive business is an innovative approach to economic growth that engages with people at the base of the economic pyramid – people from poor and disadvantaged communities – ensuring they receive a fairer share of economic benefits. Inclusive businesses create economic opportunities and provide support for people at the base of the pyramid to participate in, and benefit from, economic growth.

 

As the global COVID-19 crisis starts to impact Myanmar, the relevance of inclusive business is now more apparent than ever. Large parts of the population work in the informal sector or are daily wage workers. Lockdown or restricted travel often means people from poor communities are deprived of income, leaving them unable to meet their basic needs. Although businesses have also been impacted, the adoption of inclusive business models can enable them to offer meaningful responses to the social and economic challenges of COVID-19.

 

“We, at DISI, have long had a strong focus on supporting inclusive business because we understand the profound and transformational impact this model can have in Myanmar, including in responding to the challenges of COVID-19,” said Daw Aye Aye Win, Director General of DISI and Myanmar focal point for inclusive business in ASEAN.

 

Matteo Marinelli, CEO of Maha Agriculture Microfinance, the first winner of the Myanmar Inclusive Business Challenge 2019, said, “Our inclusive business approach will enable us to work with the people at the base of the pyramid through the COVID-19 pandemic, while providing a business model that will serve us well in the recovery period and the transition to a post-COVID-19 world.”

 

As of 1 May, more than 350 participants had registered for the ‘Inclusive Business in Myanmar’ online course.  Course registration will remain open until the end of June at https://myanmarinclusivebusiness.teachable.com/. The course, which is available in both Myanmar and English languages, aims at identifying innovative approaches that create jobs and increases incomes for people from poor and disadvantaged communities. Each of the course’s three modules incorporates Myanmar examples as well as regional and global best practice cases.

 

The ‘Inclusive Business in Myanmar’ online course is endorsed by the Inclusive Business/Impact Investing Steering Group, an important public-private initiative promoting and guiding inclusive business and impact investing in Myanmar, co-chaired by the Directorate of Investment and Company Administration (DICA) and the Directorate of Industrial Supervision and Inspection (DISI).

 

Notes to editors:

For more information please contact the DaNa Facility communications team at: +95 9782500752 or through email: danapress@danafacility.com.

 

The DaNa Facility: The DaNa Facility is a UK aid-funded programme, established in May 2016 as one of six components of UK aid’s wider ‘Business for Shared Prosperity’ (BSP) programme. The DaNa Facility, implemented by DAI Europe and KPMG, supports inclusive economic growth and private sector development in Myanmar through responsible and sustainable business growth, investment and trade. For more information on the DaNa Facility please visit: www.danafacility.com. Follow the DaNa Facility on Twitter | Facebook | LinkedIn

 

BoP Inc: BoP Innovation Center (“BoP Inc”) is an independent foundation founded in the Netherlands with operations in 24 countries. We support entrepreneurs and companies to create commercially viable, inclusive business models that benefit Base of the Pyramid (BoP) consumers, producers and entrepreneurs. Since 2010, we have been helping 500+ entrepreneurs and companies to deliver value to and with communities at the ‘Base of the Pyramid’ (“BoP”). For more information on the BoP Inc please visit: www.bopinc.org. Follow BoPInc on Twitter | Facebook | LinkedIn.

 

You can find a Myanmar version of the press release here.