Engro Foods wins IFC ManagedG20 Challenge on Inclusive Business Innovation

Karachi, June 21, 2012 (PPI-OT): The Group of 20 announced the winners of the G20 Challenge on Inclusive Business Innovation, a global competition managed by IFC, a member of the World Bank Group. Engro Foods Limited, a subsidiary of Engro Corp Ltd., was recognized for establishing milk procurement infrastructure in deep rural areas of the country Pakistan.

The world’s leading economies launched the G20 Challenge to rapidly expand commercially viable businesses that serve the large numbers of low-income people that constitute the base of the global economic pyramid. Its goal is to identify, showcase, and support innovative business models that can be replicated across developing countries. The 15 winners together reach more than 40 million people living at the base of the economic pyramid—as suppliers, distributors, retailers, or customers—in more than 10 countries.

Not only has Engro Foods Limited established milk procurement infrastructure in rural Pakistan but is also using a management information system to manage its procurement. The company has more than 1,000 locations to which farmers can walk in and bring their milk to sell to Engro. Through a milk collection network present right at farmers’ doorstep and on-farm training and technical guidance on farming and milk production, Engro is encouraging smallholder farmers to farm on a commercial basis.

“The winners demonstrate that commercially viable companies can also provide economic opportunities for poor people—along with better access to clean water, electricity, health care, education, housing, phone services, and financial services.” said Lars Thunell, IFC Executive Vice President and CEO. “They provide impressive models for others to follow.”

Since 2005, IFC has invested over $6 billion in more than 200 companies that focus on inclusive business models, in more than80 countries around the world, reaching more than 200 million people. IFC’s Inclusive Business Models Group, launched in 2010, promotes the sharing of experiences in inclusive business models and connects people, resources, and ideas in support of its clients.

For more information, contact:
Engro Corporation Limited
8th Floor, The Harbour Front Building, HC # 3,
Marine Drive, Block 4, Clifton
Karachi, Pakistan
Email: media.relations@engro.com
Phone: +92 21 111 211 211
Fax: +92 213 529 5948

Leave a Reply