One of the projects supported by the IDC, The Clothing Bank, has won the 2016 Schwab Foundation’s Social Entrepreneur of the Year award.
Supported by the Industrial Development Corporation (IDC), The Clothing Bank is a South African Non-Profit Organisation (NPO) that uses excess stock from large retailers to transform the lives of unemployed, mothers trapped in a cycle of poverty.
Every year, the Schwab Foundation for Social Entrepreneurship – the “sister organisation” of the World Economic Forum – considers thousands of nominations from around the world. This year only 11 organisations, including The Clothing Bank (TCB), were deemed to have met the criteria for the prestigious award.
Said Katherine Milligan, Director and Head of the Schwab Foundation: “Social entrepreneurs are crucial to the global conversation about inclusive growth; they are innovators who use market forces and business discipline to provide solutions for local problems and improve the lives of low-income…
View original post 962 more words