Jakarta, December 16, 2019 – Since its establishment in 1999, the spirit of ‘sustainability’ has been ignited in the DNA of YCAB Foundation (Yayasan Cinta Anak Bangsa). YCAB believes that independency of an organization is crucial when it comes to the ability to empower beneficiaries, specifically youths coming from low income families. YCAB continues to strengthen its position as a social enterprise by establishing several business units incorporated in PT. YCAB Venture Capital, known as YCAB Ventures.
The economic empowerment program through YCAB Ventures is carried out by providing ultra-micro venture capital loans to underprivileged mothers, which is conditional upon a child’s enrollment in an academic institution. During the loan period, the children of these mothers are prohibited from dropping out of school, because YCAB believes that education is the key to break the poverty cycle in a sustainable way. This characteristic distinguished YCAB from other ultra-micro credit institutions. YCAB not only of improve welfare and economy, but also works tirelessly to ensure the children’s education.
YCAB Social Enterprise’s total assets in 2018 amounted to 152.25 billion Rupiah. The shared services strategy with its business units has enabled YCAB to allocate 100% of public donations received directly to its programs and beneficiaries. Simply put, the overall strategy was created in order to empower beneficiaries in a sustainable way.
The inspirational and empowering stories of YCAB’s beneficiaries, those who not only received help but persistently try to change their lives towards the dream of prosperity, have been constantly fueling YCAB’s enthusiasm to create change. “We can only help those who want to help themselves. They must join in the effort because poverty is expensive. It is expensive for them, also expensive for the country. Therefore, we all must fight together,” said Veronica Colondam, CEO and Founder of YCAB Foundation.
“Personally, I have experienced life in an unfortunate situation. The feeling of failure when I had to drop out of school due to the economy challenge after my father suddenly passed away. Education has forever changed my life afterwards. Now I want to live to be a blessing to others,” Veronica explained.
The importance of education as a tool to change lives is the reason YCAB published twenty inspiring stories of the beneficiaries in the book titled Impact One, Impact Millions. The stories consist of ten young YCAB Learning Centre graduates and ten YCAB Ventures clients who managed to overcome their adversaries and became independent.
Impact One, Impact Millions was launched on December 16, 2019 in Jakarta. Andy Noya (journalist and host Kick Andy) hosted the discussion about the struggle of YCAB as a social enterprise for two decades. The talk show featured Arsjad Rasjid (YCAB chairman), Dwi Ari (YCAB Learning Centre graduate) and Mrs. Sugini (YCAB Ventures client). Anika Sari and Racka Presley, the children of YCAB Ventures clients who received scholarships from YCAB latest program, also participated in the event.
After graduating from the Duri Kepa YCAB Learning Center, Dwi Ari decided to join the work force. He is now working in the Continuity, Risk & Integrity division at PT. Gojek Indonesia. But Dwi Ari’s journey to become independent began in junior high school, “At that time I tried to find pocket money from selling fried rice to classmates,” he said.
Meanwhile, Mrs. Sugini decided to move from Klaten to Jakarta in 1991. She made a living by selling pecel with complementary fried foods and rice cakes in her food stall. After eight years as a YCAB Ventures client, Sugini gain more benefit from learning financial literacy skills. “I am grateful that I can manage money in a better way, now I am able to pay for my kids transportation to go to university pay the house rent.”
The concept of entrepreneurship developed by YCAB in empowering underprivileged women gained positive feedback from Teten Masduki, Minister of Cooperatives & Small and Medium Enterprises. On his statement in Impact One, Impact Millions, he concluded, “Aside from family economic approach, this concept breaks the chain of poverty through improving education for children of underprivileged families. If there are one million other people like Veronica doing the similar thing, then social change can be done more quickly and we are better prepared to enter the phase towards being a developed country.”
“Even thou it is a social foundation, the management does not control it in a careless way. The foundation that helps the people can be managed like a company. Of course it is different from other companies who prioritize profit. But with this ‘company’ like strategy, the foundation will be sustainable. YCAB is a good example. For 20 years YCAB has proven that it can create social change and also be self sufficient, “said Andy Noya.
“If we look at the historical trends of YCAB so far from the beginning to 20 years. YCAB has adapted to various conditions, from promoting healthy lifestyle to focusing on education, and now expanding to economic empowerment. These strategies become unified into YCAB Social Enterprise. This is truly an inspiration for me,” said Arsjad Rasjid.
The book Impact One, Impact Millions is not for sale and can only be obtained through direct requests to the YCAB Foundation via email: firstname.lastname@example.org