A key action point for corporate
organizations from the WIMBIZ Town Hall Meeting held on Friday, 16th
May, 2014 was the need to invest in the “bottom of the
pyramid”.
More than 50% of Nigerians live on less
than $2 per day, the global poverty line, which indicates that Nigeria has a large
untapped market at the “bottom of the pyramid”.
There are many social and economic benefits
to corporate organizations that invest in this segment of the economy,
including the benefits of numbers.
Corporate organizations looking to invest
may build elements of their business in disadvantaged communities in Nigeria,
which is less expensive and has potentials for significantly improving the
lives of people in the community by providing employment, etc. This approach to
investing in the bottom of the pyramid will lead to more long-term, high gain
rewards for the company, community and nation at large. For example,
establishing an industry in a disadvantaged community and employing young
people in that community will ensure the sustainability of the business, reduce
crime and develop sustainable livelihoods for the community.
Are there any other ways you would suggest
corporate organizations could help?
Or are you aware of any corporate organizations that are already
investing in the “bottom of the pyramid”?
Please leave a comment below for suggestions of investment ideas that corporate
organizations can apply to their business models to help build these crisis
areas back up as they recover from the destruction caused by Boko Haram.
I agree that if we are to protect the future of our nation, everyone must be involved. Investing in disadvantaged communities will not only preserve them now by giving them livelihood alternatives, it will safeguard the future of that community, of the business and would have reduced idleness and unemployment in the country as a whole.
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