Yunus Social Business made an undisclosed investment in Arbusta, an Argentine sourcing and talent development company focused on providing opportunities for low income youth and women.
(Yunus) Training vulnerable youth for employment opportunities in the tech industry.
In Colombia there are over 40,000 open job placements in the tech industry. Companies in need of tech services resort to sourcing candidates from other geographies. At the same time across Latin America, there are 20 million young people out of the education system that do not have a formal job. Their future is one of the big global problems.
Arbusta believes that they can close the skills gap by training unleashing millennial talent. They provide software, data & quality assurance services to big and medium size companies. They provide training to young people who would be overlooked in the labour market, providing direct opportunities for employment.
Arbusta employs more than 300 young people. The team consists of 95 % of young people who come from fragile socio-economic backgrounds and lack formal education. Their employees earn 25% more when compared with minimum national wages and they are provided with health and pension benefits.
Arbusta is designed to break down the invisible barriers for the participation of women in the IT industry. 57% of their team is comprised of women. They intend to increase that percentage by specifically outreaching for women in their recruiting process. They also offer special leave policies for mothers, and offer part-time jobs if they wish to combine work with family care.