12 Feb “Profit has to go alongside purpose,” says Grameen Capital’s Royston Braganza
Royston Braganza, CEO of Grameen Capital India, set the context for the Leadership Vanguard’s latest cohort of catalysts, who are meeting this week in Mumbai for their first exchange. Grameen Capital is a social business enabling microfinance institutions (MFIs) to develop wider access to capital markets.
During the three-day event, the catalysts – who are senior leaders from Mastercard, Shell, DNV GL, EDP, Unilever and the International Committee of the Red Cross – will be exploring the complex issues that are transforming societies and the operating context for their organisations.
In his introduction, Royston shared his experience working within the microfinance industry in India and of bringing global capital to solve for financial inclusion at the bottom of the pyramid.
“Money for social impact shouldn’t come from CSR. It has to come from core business as it gives companies access to untapped markets while building sustainable solutions,” he said.
“Corporates cannot be standalone in Adam Smith’s wealth-building machine anymore. Profit has to go alongside purpose.”