PAF Social Economy? A Pilot project with Louvain Coopération
Brussels, November 1st 2022
We are pleased to announce that the Prince Albert Fund Board has decided to run a pilot project and test the socio-economic version of the PAF concept.
Starting January 2023, candidate Madeline Saadeh will launch the operations for Louvain Coopération (NGO) in Kinshasa, Congo.
The Board took three main elements in consideration for this decision:
- The Board wants to assess if social organizations would qualify as valuable learning environment for future candidates. The social economy spectrum is in full development with hybrid legal entities emerging (Social profit companies, Cooperatives, Mutuals, etc). Some of these entities, like Louvain Coopération, will also be operating in competitive international environments, with complex stakeholder structures, and will be subject to a similar profitability imperative as commercial entities.
- Candidates are increasingly interested in projects with high societal impact, not just Planet SDGs, but also People SDGs. A working hypothesis is that future generations of candidates might equally be drawn to similar projects as this pilot.
- The project holds the right elements for an empowering experiment for the candidate. It will be directed by the CEO of Louvain Coopération, Jean-Michel Pochet (PAF Alumnus 1997).
This learnings from this pilot will be an essential part of the strategic investigation to structurally open-up the Prince Albert Fund to non-commercial entities in the future.
The Board wishes Madeline and Louvain Coopération success with their mission in Congo.
For further information, please contact:
Kristel Van den Bergh, Managing Director Prince Albert Fund