Watami and Yunus Centre have entered in an agreement which signals the start of a restaurant social business that hopes to create jobs, foster local cuisine and training skills, and provide healthy and affordable food for those who live in Bangladesh. Founded about 25 years ago, Watami is the leading food and beverage company in Japan and comprises over 600 restaurants. The memorandum of understanding was signed last week by Muhammad Yunus and the CEO of Watami Group, Mr. Miki Watanabe.
The social business will not deliver profits to either Yunus Centre or Watami. The Yunus Centre expanded on what this means for all parties involved: "The joint venture aims to spread the business in the rural parts of Bangladesh as well and also training schools for young people to become professional chefs for both domestic and international employment."
The Watami and Yunus Centre venture in Bangladesh is part of an emerging trend of corporations partnering with social businesses to create their own independent spinoff that harnesses the resources of both parties in the group to create a hybrid organization with the oomph and mission to positively impact their respective sectors.
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