Los Cabos, Mexico, June 18, 2012—The
Group of 20 today announced the winners of the G20 Challenge on Inclusive
Business Innovation, a global competition managed by the International
Finance Corporation (IFC), the private sector arm of the World Bank Group.
Brazilian company Tenda Atacado Ltda (Tenda) was among the winners,
Ambassador Rogelio Granguillhome, Executive Secretary of the Mexican Agency
for International Development Cooperation and Chair of the G20 Development
Working Group, presented the awards at a ceremony here.
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 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.”
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 29 countries. Brazil’s Tenda is a wholesaler and
retailer that supplies food, toiletries, and household goods through 16
retail stores to people and microbusinesses at the base of the economic
pyramid in the Brazilian state of São Paulo. Every month, Tenda serves
about 1 million customers, and almost half of Tenda’s sales come from
microentrepreneurs buying products for businesses in the food industry,
such as street food carts, small coffee shops, pizzerias, and bakeries.
Tenda also runs a market intelligence unit that extends private-label credit
cards to those whose purchasing patterns make them a good credit risk.
So far, Tenda has allowed more than 30,000 entrepreneurs to purchase on
The full list of winners is:
- Agrofinanzas (Mexico), which helps
improve the lives of rural Mexican farmers and food producers by providing
financing to them.
- Apollo Hospitals Group (India),
which helps provide specialized medical services in India’s underserved
rural areas and smaller towns.
- Bakhresa Grain Milling (Malawi), which
helps local entrepreneurs build businesses that entail selling baked goods.
- Brilla, a program launched by Promigas
(Colombia) to help people finance home improvements, microbusinesses, schooling,
and appliance purchases.
- Corporación Universitaria Minuto de Dios
(Colombia), which makes higher education more accessible by offering loans
to students in Colombia.
- Ecofiltro (Guatemala), which manufactures
low-cost water filters that can be assembled using local materials and
- Engro Foods Limited (Pakistan), which
helps small dairy farmers in rural Pakistan join the formal economy.
- Jain Irrigation Systems Ltd. (India),
which provides irrigation systems to farmers in several developing countries,
improving their yields by up to $1,000 per acre.
- Manila Water Company (Philippines),
which provides safe, affordable drinking water.
- Millicom (Luxembourg), which provides
affordable and accessible mobile services and solutions, including financial
services, to customers in emerging markets in Latin America and Africa.
- Reybanpac Unidad de Lácteos (Ecuador),
which helps combat malnutrition by providing affordable high-protein dairy
drinks with milk purchased from small farmers.
- Sustainable Harvest Coffee Importers
(United States), which helps small coffee farmers in Central and South
America and East Africa improve their lives by buying their coffee at fair
- Tenda Atacado Ltda (Brazil), which
supports small business in Brazil by extending credit to microentrepreneurs
with no credit history.
- VINTE Viviendas Integrales (Mexico),
which provides affordable and eco-friendly housing to low- and middle-income
families in Mexico.
- Waterlife India Private Limited (India),
which builds and runs water-purification plants to provide safe and affordable
Since 2005, IFC has invested over $6 billion in more than 200 companies
that focus on inclusive business models, in more than 80 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 about the winners and the innovative business
models they and others created. Click here
for information about the contest judges
and the selection process.
IFC, a member of the World Bank Group, is the largest global development
institution focused exclusively on the private sector. We help developing
countries achieve sustainable growth by financing investment, providing
advisory services to businesses and governments, and mobilizing capital
in the international financial markets. In fiscal 2011, amid economic uncertainty
across the globe, we helped our clients create jobs, strengthen environmental
performance, and contribute to their local communities—all while driving
our investments to an all-time high of nearly $19 billion. For more information,