In today's tough environment, when lots of middle and low class people lose their jobs, and when there is lower support for developing countries, social entrepreneurship become even more important. However, the ideas and business models should be adapted to the current economic situation (an example is recycling business which can't continue using the traditional business model as the price of garbage is going down 50%).
Therefore I decided to post some ideas which might be successful in today's environment. You can also feel free to add yours in the comment section:
1) Peer to Peer lending businesses: Africa has low cash now; there are several reasons behind this: There are less and less tourists going there, the amount of support from U.S. and EU is decreasing and the export oriented businesses are having difficulty. One may apply the idea of companies like Zopa to Africa…The idea is to create some sort of communal hedge fund and allow community members to submit ideas that the community gets to approve funding for.
2) Using frequent fly points to feed the poor: Currently many business people accumulate frequent flying points to get free flights. One might establish an organization to opt-in to a donation program where instead of their unused airtime minutes getting rolled over into more airtime, the collective minutes would be tallied, given a monetary value and used as a seed fund for African entrepreneurs or poor people.
3) Improving supply chain processes for medicine: Though this one is less common, there is tremendous value in it. Right now 30 people are dying out of Malaria every hour (if I am not mistaken) and it's mostly not because the medicine is not there but because there is right amount of inventory to mix and create the right combination for patients (combination of drugs is different for male, female, pregnant, etc.). This might be a good idea for ex-business consultants…
Now it is your turn.