LISA Markets is social enterprise model where poor and marginalized members of the Sero community own assets as livestock by buying shares into the social enterprise venture currently owned by Side organization. The organization has tested this model by owning livestock assets worth €3000. The plans are to expand its ownership and assets base to at least have 100 subscribed members of the community in year one. Each share is worth €10 and maximum shares per member is limited to ten.
Live Stock Assets Market is a social enterprise model the where poor and marginalized members collectively own livestock for improved livelihood.
What problem are you trying to solve?
Poverty is a leading global problem and takes position 1 priority in the SDG list. Majority of the members of Sero community live below the poverty line. This problem affects all members however women and children bear the greatest burden of poverty. Many children are malnourished leading to diseases such as diarrhea, anemia, scabies, stunted growth among others. This ill health leads to increased expenditure on medicare and with most families unable to afford hospital bills, it leads to more poverty. This problem also leads women to engage in all manner of menial jobs which often exposes them to health and social risks. Many families are not able to feed themselves on 3 course day meal and often are too weak to be productive in other economic sectors. Poverty generally leads to low and poor quality of education, teen pregnancies, anti-social behaviors among many ills that bear down on this community’s economic growth and development. This model contributes to eradicating global poverty.
What is your solution to this problem?
LISA Markets is a model that offers solutions as a contribution to ending poverty. This solution looks at how possible can community members collectively own assets in livestock, use these assets to earn a living and improve their general livelihood. Individually, it would be impossible for any member to own even one dairy goat which is about €150, let alone a cow which is about €800. However, 10 members each contributing €100 would easily own and manage a livestock asset, increase the chances of productivity and earning.
The model will generate income from the sales of animal products (milk, meat, skin) and young livestock to other markets; generated income will be shared based on share structure. The benefits will enable members to overcome the challenges and effects of poverty in the community. Due to the nature of the increase in assets, eventually members will be able to own their livestock, increased productivity and eradicated poverty which is our main goal in this model.
What is your latest update on your innovation?
We are Southern based. We understand what poverty means and we know the simple but working solutions within the community level that have greater impacts. As a proponent of this model, I grew up in poverty and I am working within and for my very community to which I grew. Members of the community including women and youths are engaged in the process currently and in the expansion model of this social venture. Strategic meetings and various stakeholders involvement have formed the decision for piloting and expanding this innovation. Currently of the 15 members; 10 are women and 5 are youths between the ages of 22-35 years. We understand how difficult it is to raise capital so that individuals can initiate their own businesses or ventures aimed at coming out of poverty. Collectively through small contributions, members can own, evaluate and learn of the management practices leading to success. This learning is needed for future growth and expansion.