“We can be agents of our own transformation”: Favelas of Brazil come together to create a stock exchange

The ten largest favelas in Brazil have come together to create a stock exchange with the aim of ending decades of economic marginalization, making local businesses flourish and opening doors to investors from all over the world, it reported this Friday. EFE.

It is an initiative promoted by G10 Favelas, an organization that brings together leaders and entrepreneurs from the ten largest favelas in the Latin American country, for example, Paraisópolis or La Rocinha, in Rio de Janeiro.

Just opened

Launched last week, the Favelas Stock Exchange is the result of an alliance with DIVI • hub, a popular US financing platform that has received permits from the Brazilian Securities Commission to regulate the shares of listed companies.

“The idea came to create a puente between the ‘start-ups’ and the investors who want to act in the favelas of Brazil “, explained to the Spanish agency Gilson Rodrigues, who at 37 is president of G10 Favelas and community leader of Paraisópolis.

Rodrigues indicated that any Brazilian startup that was born or operates within a favela can participate in this initiative, as well as anyone, rich or poor, detailing that there will be participations starting at 1.78 dollars.

“Stimulus for the population”

“It is a stimulus for the population of the favela that is suffering two crises, the sanitary [por el covid-19] and the economic, which brings hunger and unemployment, “he continued.” We can be agents of our own transformation, “he said.

Favela Brasil Xpress has become the first company listed of the new stock exchange of the South American giant. It was founded by Givanildo Pereira, 21, and responds to an important need: to deliver in favelas things that people buy online, given the risks in dangerous areas. Now, it delivers about 1,200 packages a day, which translates into the movement of about $ 110,000.

According to estimates from the Data Favela and Locomotiva institutes, the inhabitants of the Brazilian favelas, which are estimated at about 14 million people, move approximately $ 21.5 billion a year.

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