RSS

Here's a Business Plan to Fight Poverty

By: Peter CarbonaraTue Dec 18, 2007 at 11:49 PM
The social entrepreneur who pioneered 'microlending' has launched a new company. Its goal: a cell-phone in every village.

When you combine access to credit with access to information, Yunus says, you change the game for the rural poor: "Poor people live at the mercy of the middleman. The middleman says, 'The price for your crop is this much. I can't do any better -- the market price in the city is so low.' Of course, he's making that up. But villagers have no connections in the city. Now, with the cell-phones, they can call up and find out the market price for themselves. We can gradually eliminate the middleman. And the more middlemen you eliminate, the more rural producers you benefit."

Peter Carbonara (pjcarbo@worldnet.att.net) is a freelance writer based in Brookline, Massachusetts. He contributes frequently to Fast Company. Contact Grameen foundation by telephone (202-543-2636) or email (grameen_foundation@msn.com)

From Issue 12 | December 1997

Sign in or register to comment.
or