FAMMI gives employment priority to appropriately qualified ex-street children and members of At Risk Communities. FAMMI aims for 80% of its staff to be made up of ex-street children and members of At Risk Communities within 3 years. We will join those entrepreneurial thinkers who fight poverty through creating sustainable opportunity. There are precedents of social enterprises run by street children – such as:
FAMMI trades as a Social Enterprise and therefore operates on the “Double Bottom Line” principle – a commercial bottom line and a social bottom line.
FAMMI operates on a Business to Business (B2B) model. We are developing a customer base of institutions and NGOs working with nutritionally and economically vulnerable groups. FAMMI seeks to serve the following specific sectors:
- The Commercial Bottom Line. FAMMI is a profit-generating organisation. FAMMI seeks to operate on a sound commercial basis with the focused ambition of generating a cash surplus.
- The Social Bottom Line. A sustainable percentage of the surplus generated will be used as microfinance seed money. Micro-loans will be granted to finance entrepreneurial ventures and education, specifically for street children, ex-street children and At Risk Communities.
The microfinance seed money will be provided as a loan, not as a “gift”. Microfinance loans will be contingent upon acceptance of a business plan and agreed repayment schedules. The FAMMI microfinance team will provide business support, coaching and mentoring for entrepreneurs who qualify for micro-loans.This will be done through our One Day MBA program.