The Social Project was founded in March 2015, and is a non-profit company with the ambition of eradicating extreme poverty in South Africa, and working towards eliminating the massive income inequality that exists here. Our current offerings include a School in a Box, as well as the coffee shop Social Drinks, which provides meals for children at our iLearning Centres.
It is registered in South Africa as a Public Benefit Organisation (PBO number 9300 51043), which allows us to issue Section 18a tax certificates for donations of cash or in kind.
A Social Business
The Social Project is a social business, operating a number of projects which work towards the fulfilment of our overall vision.
Nobel Prize winner Mohammad Yunus defines a Social Business as a business created and designed to address a social problem. It is to be a non-loss, non-dividend company: financially self-sustainable with any profits realized reinvested in the business itself.
Unlike a profit-maximizing business, the prime aim of a Social Business is not to maximize profits (although generating profits is desired). Furthermore, business owners and investors are not receiving any dividend, except for the obvious benefits of contributing towards healing a nation, and increased business opportunities in the future as people are helped out of the poverty cycle.
On the other hand, unlike a charity, a Social Business aims to not rely on donations or on private or public grants to survive and to operate in the long term, because, as with any other business, it is self-sustainable.
As Yunus said, “A charity dollar has only one life; a Social Business dollar can be invested over and over again.”