ADB Recognizes CFP as Inclusive Business Among AgriBusiness Sector
Coffee For Peace was mentioned by Asian Development Bank as representative of AgriBusiness sector in the area of Inclusive Business.
This was reported by Rappler:
The ADB study said that the private sector must start maximizing its potential by engaging in IBs. At present, only 70 IBs exist in the Philippines.
Since IBs are enterprises whose core businesses target the needs of the low income segment, they are also a way of addressing systemic problems of poverty.
Not to be mistaken for corporate social responsibility, these IBs include those in the following sectors:
- Agribusiness – Coffee for Peace, which sources coffee from indigenous households
- Education – STI, which offers technical and vocational courses
- Food and beverage – Kennemer Foods, which sources cacao from farmers
- Finance – Globe BanKo, which engages in mobile microfinance product
- Health – Generika Drugstores, which supplies low-cost medicine
- Information technology – Encash, which installs ATM booths in rural areas
- Manufacturing – Gandang Kalikasan, which created the Human Nature line of cosmetics
- Real estate- Phinma Properties, which works on mass housing facilities
- Retail – Microventures, which created the Hapinoy Sari-Sari Store program
- Tourism – Island Bangka Cruises which partners with small boat operators