Social entrepreneurship

Advancing research and maintaining relevance

Authored by: Gillian Mort , Jay Weerawardena

The Routledge Companion to Nonprofit Marketing

Print publication date:  November  2007
Online publication date:  November  2007

Print ISBN: 9780415417273
eBook ISBN: 9780203936023
Adobe ISBN: 9781134114917


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Sophia Khatoon, a 22-year-old highly skilled furniture-maker in the tiny village of Jobra in Bangladesh, worked seven long days a week, looked twice her age and lived in abject poverty. She made stools and chairs out of bamboo, which she had to sell to a moneylender who provided the credit to buy the raw material. The price she received barely covered the costs. Dr Yunus – Professor of Economics at the University in the Southern port city of Chittagong who later founded the Grameen Bank – calculated that effectively Sophia was paying interest at the rate of 10 per cent a day, more than 3,000 per cent a year. Yunus could not reconcile the fact that a woman with such excellent skills, who worked so hard, produced such beautiful bamboo furniture and created wealth at such a high rate was earning so little.

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