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KEIZAI DOYUKAI, or the Japan Association of Corporate Executives on 4 November signed a statement of intent with the African Development Bank Group to foster closer collaboration and to strengthen business ties between Japan and Africa. The DOYUKAI, a private, nonprofit, nonpartisan organization of Japanese business leaders, is envisaging the creation of an “Impact Fund” to build an impact investment ecosystem in Africa.
Cambodia reckons that by helping more women and youth to get employment, Inclusive Business (IB) is one of the most rewarding ways to reduce poverty, said Senior Minister, Minister of Industry, Science, Technology & Innovation (MISTI) Cham Prasidh recently. The minister was giving his opening remarks at the Fifth ASEAN Inclusive Business Summit in Siem Reap.
During the 5th ASEAN IB Summit, the Indonesien Cooperatives and SMEs Ministry detailed four main keys in promoting inclusive business in the ASEAN region. First, coaching and mentoring as means to support the transition towards inclusiveness in businesses. Secondly, the crucial role of digital transformation and green economy for inclusive business in achieving the Sustainable Development Goals (SDGs). "Thirdly, the importance of partnerships between MSMEs and big businesses in expediting MSME participation in the supply chain," the Advisor to the Cooperatives and SMEs Minister for Inter-Institutional Relations, Luhur Pradjarto said.
The Fifth ASEAN Inclusive Business Summit concluded on 27 October, 2022. The theme of the two-day hybrid event was “Together ASEAN IBee” (Inclusive Business enabling environment). The summit discussed the implementation of Guidelines for the Promotion of Inclusive Business in ASEAN, particularly on IB investment incentives, policy instruments and support mechanisms.
The global venture firm OurCrowd announced the launch of a Global Health Equity Fund (GHEF) in collaboration with the WHO Foundation. The GHEF is a $200 million unique financial-first impact venture capital investment fund, focusing on breakthrough technology solutions that can impact healthcare globally. It will fuel innovation and increase investment in the health sector, with the shared goals of delivering competitive returns to investors and ensuring equitable access to medical care.
The Cambodian government on August 22 established a working group to promote inclusive business (IB) nationwide. It aims to increase the efficiency and sustainability of business processes so as to ramp up production volume and value and build better business resilience.
Commercial Agricultural Producers and Processors Association (CAPPA) has provided over 12,300 jobs nationwide of which 25% are held by women. In the area of inclusive business, several CAPPA members have embarked on Outgrower programmes. Goldtree has supported over 10,000 smallholders to gain EU organic certification. The smallholders have benefitted immensely from over 200ha of high-yielding varieties as well as training in sustainable farming.
Building on the UK’s longstanding relations with ASEAN, the conferment of ASEAN Dialogue Partnership to the UK in August 2021 will further complement efforts to strengthen the ties between ASEAN and the UK. The Plan of Action contains a commitment to "upport the implementation of the strategic goals identified in the ASEAN Strategic Action Plan on SME Development (SAP SMED) 2016-2025 and integrate inclusive business approaches in its implementation."
Sanofi Global Health announced the launch of Impact, a new brand of standard of care medicines produced by Sanofi dedicated for nonprofit distribution to at-risk populations in the world’s most impoverished countries. The company also announces the establishment of an Impact fund that will support startup companies and other innovators that can deliver scalable solutions for sustainable healthcare in underserved regions.
Southeast Asia has experienced an increase in impact investing, which involves corporate or private funds directed towards initiatives resulting in measurable environmental or social benefits. But the region’s distinct state ideologies and philanthropic cultures may not neatly fit into established Western models and standards.