NextBillion - An Initiative of the William Davidson Institute at the University of Michigan

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• Guest Articles

  Thursday
  February 2
  2023

  Ted Pantone

  Delivering on Mass Market Insurance in Africa: Debunking the Myth of Low Demand

  Africa’s insurance penetration rate in 2019 was only 2.78%, significantly lower than the global average — and insurance usage is concentrated among the urban elite, with minimal adoption among the people with the most risk of financial shocks. According to Ted Pantone at Turaco, there's a widespread belief in the industry that this lack of uptake means African customers don't see value in the benefits of insurance. But he argues that Turaco’s rapid growth in Africa is debunking that myth. He explores three aspects of the company's model that have enabled it to unlock African customers' latent demand for insurance.

  Categories

  Finance

  Tags

  digital finance, financial inclusion, insurance

• Guest Articles

  Monday
  January 30
  2023

  Paul Clyde / Ioan P. Cleaton-Jones

  Six Business Plan Pitfalls to Avoid When Approaching Funders: Lessons from Healthcare Enterprises in Emerging Markets

  Having a good business plan is a key part of building credibility with funders. But despite its importance to an enterprise’s success, many entrepreneurs in emerging markets struggle to develop a strong business plan that instills confidence among potential funders. Paul Clyde and Ioan Cleaton-Jones at the William Davidson Institute discuss six common business plan mistakes that can undermine an entrepreneur's prospects with funders, based on their work supporting the development of business plans for hundreds of healthcare enterprises in various emerging markets.

  Categories

  Entrepreneurship, Health Care, Investing

  Tags

  business development, business education

• Guest Articles

  Wednesday
  January 25
  2023

  Efosa Ojomo

  How Foreign Aid Can Innovate Itself Out of Existence: Exploring the Potential of Market-Creating Innovation for Sustainable Development

  The foreign aid sector has long been criticized for its inability to generate consistent economic growth and poverty alleviation in developing countries. According to Efosa Ojomo at the Clayton Christensen Institute for Disruptive Innovation, a new approach to aid is needed: one that recognizes the power of business innovation to create new markets that advance local prosperity. He discusses a new pan-African initiative based on that approach, which aims to mobilize aid, business and African institutions to build new markets that generate self-sustaining economic growth.

  Categories

  Entrepreneurship, Health Care, Investing

  Tags

  development finance, employment, global development, innovation, poverty alleviation

• Guest Articles

  Monday
  January 23
  2023

  Sachi Shenoy / Steve Schwartz

  Lessons in Resilience: What an Impact Investor Learned from an Entrepreneur Who Refused to Give Up

  Entrepreneurship is a long game, and winning often comes down to grit. One case in point: Arindam Dasgupta, the co-founder and CEO of Tamul Plates, who has built a thriving business in India despite the historic challenges of recent years. Sachi Shenoy at Calidris and Steve Schwartz at the World Economic Forum were early investors in Tamul Plates through Upaya Social Ventures, the impact investing firm they co-founded. They discuss what Dasgupta has taught them about the qualities and practices investors should look for when seeking resilient entrepreneurs.

  Categories

  Entrepreneurship, Investing

  Tags

  COVID-19, employment, impact investing, social enterprise