In December, the ANDE South Asia Convening delivered an impactful exploration of its compelling theme, “Big Ideas for Small Business.” Building on the energy of ANDE’s Global Annual Conference 2024, the event gathered visionary leaders, innovators, and practitioners for three days of meaningful dialogue and collaboration. The event was a testament to the power of collective action, fostering a vibrant exchange of ideas that will continue to drive positive change for entrepreneurs across South Asia.
Co-hosted with NAB Bangladesh and supported by BetterStories Limited, ICIMOD, nVentures, PTH Venture Studio, SAFAL Partners, and World University Service of Canada (WUSC – EUMC), the convening focused on key issues shaping South Asia’s entrepreneurial ecosystem. Participants engaged in thought-provoking discussions, shared best practices, and explored innovative solutions to empower small businesses in the region. Here’s a glimpse of what was discussed and explored during each of the sessions at #SAC2024.
Day 2: Regional Ecosystem Building for SGBs II: Engage in a detailed exploration of a novel financial metric, understanding its definition, strategic applications, and strengths and weaknesses through regional comparisons.
Session 1: Growing Women-Led Ventures: From Micro to Mighty
Supporting women-led nano and micro businesses across South Asia is crucial as they drive local economies, foster community development, and play a transformative role in reducing gender and income inequalities.
Minhaz Anwar (BetterStories, Bangladesh) introduced this vital discussion on strategies to grow women-led nano and micro businesses across South Asia. Highlighting challenges like gender financing gaps, unpaid care work, and societal norms, he underscored the need for capacity building, capital access, and mentorship. Dr Tariqul Islam spoke about Max Foundation’s focus on tackling undernutrition and infectious diseases in Bangladesh, especially among children under five, by promoting hygiene and health practices. He introduced Nusrat Lamia, a budding entrepreneur from Bangladesh, supported by Max Foundation. Nusrat’s inspiring journey began with her family’s food supply business. Despite facing setbacks during COVID-19, she transitioned to selling health and hygiene products. Today, she is self-reliant and leads a group of 27 entrepreneurs, exemplifying resilience and empowerment.
Dr. Dilip Bhandari shared valuable insights on Heifer International’s efforts to empower women entrepreneurs, particularly in South Asia, with a focus on Nepal. Their projects aim to promote sustainable agriculture, market access, and financial inclusion, driving both empowerment and improved livelihoods. He also emphasized the importance of access to finance for farmers’ expansion. He said, “We have developed tools and partnerships that help cooperatives and farmers secure capital through banks, microfinance institutions, and other financial entities.”
Rural impact enterprises in India are witnessing a significant rise. Anagha Kamath highlighted the transformative work of Mann Deshi Foundation and Bank, India’s first rural women-led bank. She was joined by Vanita Pise, an entrepreneur who started her entrepreneurial path 18 years ago with Mann Deshi Bank’s support. She overcame financial and documentation challenges, including a lack of formal contracts, and now inspires other women to build businesses and organize self-help groups, fostering financial independence and trust within rural communities.
The audience gained valuable insights into how sustainable agriculture, financial inclusion, and access to markets can fuel growth for women-led enterprises. The session also highlighted the crucial role of partnerships and innovative financial solutions in providing women with the resources they need to succeed. Additionally, the impact of women leaders in inspiring future entrepreneurs was discussed, emphasizing the importance of impact investments to support smallholder farmers, particularly women. Moving forward, fostering such empowerment can drive significant economic and social change across the region.
Session 2: Population-Weighted Asset Under Management
In South Asia, where population growth, economic disparity, and financial inclusion challenges are pronounced, Population-Weighted Assets Under Management (PWAUM) offers a crucial lens to understand the distribution of financial resources.
The second session of Day 2 at #SAC2024 kicked off with Farhad Reza from NAB Bangladesh, who introduced the concept of population-weighted assets under management (PWAUM), a groundbreaking idea in the impact investment ecosystem. He expressed the belief that companies should be defined not only by their revenue but also by their impact on serving large populations.
Tasfia Tasneem Ahmed, Bangladesh Institute of Governance and Management (BIGM), emphasized the importance of considering population size and needs when evaluating impact investments. She explained it with an example, “Imagine we’re investing $1 billion in renewable energy projects in a country, let’s call it Country A. This country has two regions: Region A with 10 million inhabitants and Region B with 1 million. Without factoring in population size, if the total fund is $500 million, we might initially allocate $250 million to each region. However, Region A, with its larger population, may have a greater need for renewable energy projects due to higher poverty rates, and therefore may require more funding. This highlights the importance of not just considering the aggregated metrics, but also factors like population size and specific regional needs to ensure a more effective and equitable outcome.”
Olav Muurlink (CQUniversity) discussed various metrics related to population-weighted data, highlighting their importance in impact assessment. He mentioned tools like SROI, local carbon footprints, and the Big Mac Index, which demonstrate how context influences data interpretation. He clarified, “It’s not so much population-weighted, but population context-weighted, weighted to the particular context in which it happens.”
Dr. Rahul Mathew from World Vision Bangladesh explained how combining PWAUM with Social Return on Investment (SROI) helps direct investments more effectively. This approach leads to real, tangible benefits in areas like education, health, and economic growth, especially in underserved rural regions. Nick Goryl from PlentyOne Global also pointed out that PWAUM focuses on empowering emerging markets, particularly in Asia. It challenges the traditional development model that often comes from the global north, promoting regional inclusivity. This ensures a fairer distribution of investments and gives us clearer insights into their impact, making impact investments more effective.
We look forward to seeing more widespread adoption of PWAUM in the future, ensuring that investments are not only equitable but also lead to tangible, positive change in communities that need it the most.