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Entrepreneur-Friendly Inclusive Finance: A Survey of Brazilian MSMEs Highlights Key Lessons for Lenders
In Brazil, impact-focused lenders like Estímulo are successfully reaching small and medium-sized enterprises (MSMEs) with inclusive lending approaches. But as Carla Grados-Villamar at 60 Decibels and Lucas Conrado at Estímulo explain, inclusive finance is not just about disbursing loans — it’s about understanding entrepreneurs’ realities and adapting accordingly. They share findings from 60 Decibels' interviews with over 400 Estímulo loan applicants, highlighting lessons lenders can use to improve business outcomes for borrowers, and prepare non-borrowers for future credit opportunities. (In celebration of our 20th anniversary, NextBillion is highlighting key articles from our decades of coverage of different sectors on our homepage below, with a current focus on education.)
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- Finance
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Africa Needs Jobs — the Agri-Food Industry Can Provide Them: How the Sector Can Boost its Impact on Employment Across the Continent
Sub-Saharan Africa’s working-age population is projected to increase by more than 20 million per year until 2050. Yet according to Loïc De Cannière at Incofin Investment Management, the region created "only" 9 million jobs per year on average during the first two decades of this century. He argues that if job growth can't keep pace with this growing demographic, unemployment will likely lead to more poverty, societal unrest and migratory pressures. The solution, he explains, is to support the industries with the biggest potential for job creation, starting with the agri-food sector.
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- Agriculture, Investing
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NextBillion at 20: Reflecting on Growth, Change and Global Impact
NextBillion is celebrating its 20th anniversary this year, at a time of immense global change and uncertainty. But a few things haven’t changed: Entrepreneurship continues to be a key factor in solving the world’s most urgent challenges. Investments in emerging markets continue to catalyze innovation. And access to accurate sources of information remains essential to unlocking business growth and impact. In the coming weeks, NextBillion will be spotlighting guest articles that captured some of the key conversations and challenges that have shaped impact-focused business in emerging markets over the past two decades — and that continue to shape these sectors today. We're starting with agriculture: Check out these insights below.
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- Social Enterprise
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Public Good vs. Profitable Exits: Why Public Innovation Agencies Must Stop Copying Venture Capital
A new class of venture capitalist is emerging, but they aren’t Wall Street financiers or Silicon Valley tech bros. As Emre Eren Korkmaz at the University of Oxford argues, they are public innovation agencies that are shifting their funding approach: Instead of supporting high-risk research and innovations aimed at delivering societal benefit, they have begun to adopt the logic of venture capital, favoring commercially viable projects that are more likely to secure follow-on private funding. He explores the downsides to this shift, arguing that the world needs these institutions to do what private capital cannot or will not: supporting innovation for the public good, not just for profitable exits.
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- Investing, Social Enterprise, Technology
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From Energy Access to Economic Empowerment: Workable Models for Financing a Just Transition in Emerging Markets
Today 2.1 billion people live without clean cooking fuels and technologies, and over 660 million people lack electricity access. Yet as Anthony Osijo at Bboxx points out, as global conversations largely focus on decarbonizing energy resources to combat climate change, these millions of households still cannot access essential products and services the rest of the world takes for granted. He argues that emerging markets can't simply be left in the dark because their kerosene lamps and diesel generators aren’t environmentally viable, especially if they lack access to suitable alternatives. He explores ways to finance and deliver a just climate transition — while also eradicating energy poverty.
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- Energy, Environment
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Convincing Customers to Buy What’s Best for Them: How Lessons from Clean Cooking Can Increase the Adoption of ‘Merit Goods’
Despite their clear benefits, “merit goods” — products or practices that improve both individual and societal welfare — often struggle to achieve widespread adoption. As Jean-Louis Racine at the Clean Cooking Alliance explains, even when these products and behavior changes offer solutions to pressing social and environmental challenges, traditional marketing approaches often fail to build significant consumer demand for them. He examines the clean cooking sector’s experience in selling cookstoves and fuels to emerging markets customers, highlighting effective strategies that can accelerate consumer uptake of these and other merit goods.
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- Energy
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Turning Failure into Fuel: An Emerging Learning Platform Aims to Bring the Hidden Challenges in Humanitarian Energy to Light
The humanitarian energy sector is eager to learn from success. But according to clean cooking and energy access researchers Nazifa Rafa, Tash Perros, Iwona Bisaga and Ronan Ferguson, its failures are usually buried in reports or quietly brushed aside, and there's often a disconnect between what’s documented in impact reports and what practitioners experience on the ground. They argue that this dynamic is unsustainable in a sector with high risks, urgent needs and shrinking funding. In response, they share an emerging solution: the Humanitarian Energy Learning Platform, a centralized, inter-donor learning system designed to highlight what’s going wrong in humanitarian energy access, and how practitioners can systematically learn from it.
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- Energy
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Top-Down vs. Bottom-Up: Bhutan and Fiji’s Contrasting Paths to Digital Transformation Reveal the Pros and Cons of Government and Market-Driven Approaches
The pursuit of digital competitiveness — the capacity and readiness to adopt digital technologies — has led to remarkable success stories in emerging markets, transforming public infrastructure and enhancing the delivery of social and financial services. But as Neeraj Lekhwar and Garima Singh at FinValue Advisors explain, this path remains challenging for many nations — particularly small countries. They share insights from a FinValue study involving Bhutan and Fiji: two countries with comparable sizes and socioeconomic structures that have approached their digital transformation very differently. The policy paths they've taken present contrasting examples of digital adoption strategies that provide valuable lessons for other small markets.
- Categories
- Finance, Technology
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