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The Impact Sector is Confusing Satisfaction with Impact: Rethinking the Growing Reliance on Perception Surveys
Measurement standards in the impact sector have shifted toward perception surveys — i.e., forms that ask individuals to rate their personal experience with a program or organization — to quantify success. But as Juan Taborda Burgos, Jorge Bouchot and Miranda Hansen at Root Capital argue, perception-based metrics can mask a program’s ineffectiveness, potentially leading organizations to scale interventions that do not work. They share insights from a recent Root Capital report that reveal the downsides of relying solely on perception data, and offer four actionable principles that can help leaders navigate the pressure to demonstrate impact — while avoiding costly mistakes.
- Categories
- Agriculture, Investing, Social Enterprise
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Productive Use Has Challenges: What’s Holding the Sector Back — And How Companies and Investors Should Respond
Productive use of renewable energy (PURE) technologies such as solar irrigation, cold storage and agro-processing can have a transformative impact in Africa and other emerging markets. But though the potential of these technologies is undeniable, the scale isn’t. As Daniel Waldron, Chris Emmott and Kristi Chon at Acumen, and Duda Slawek at Open Capital explain, few agricultural companies are delivering PURE solutions, and fewer still are growing fast enough to meet the scope of the problems they are trying to solve. They share new research and analysis that illuminate the challenges that are holding the sector back, and propose three ways forward.
- Categories
- Agriculture, Energy, Environment, Investing, Technology
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Rethinking What it Means to Start a Business: Why Systemic Venture Building Matters for Africa’s Food Future
Africa’s entrepreneurs are often seen as risky investments not due to any limitations of their own businesses, but because of the risks in the systems around them. As a result, as Dieuwertje Nelissen, Eveline Jansen and Rachael Kirui at Enviu argue, it's important for development stakeholders to move beyond de-risking individual businesses and to put greater effort into strengthening and de-risking the systems that support them. They explore this systemic approach in the context of African agriculture, sharing a venture-building model that can help entrepreneurs reduce early-stage risk and scale sustainable impact.
- Categories
- Agriculture, Investing, Social Enterprise
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NextBillion’s Most Influential Articles of 2025: Announcing the Winners of Our Annual Contest
We've counted the votes in NextBillion’s “Most Influential Articles of the Year” contest, an annual tradition since 2012. The three winners are listed in this article. Congratulations to these guest writers, and to the other contestants in the contest, whose insights have clearly resonated with our readers this past year. And thank you to everyone who voted — and everyone who read and wrote for NextBillion in 2025. Best wishes for the new year!
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- Energy, Environment, Investing, Technology, Telecommunications
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Announcing NextBillion’s Most Influential Articles of 2025: Vote for Your Favorites by Jan. 4
NextBillion’s “Most Influential Articles of the Year” contest has been an annual tradition since 2012. As we do each December, we’ve highlighted 12 of our most-read articles from the past year: You can find links to them in this article, or on the homepage below. We invite you to read them and vote for the ones that influenced your thinking the most. You can vote up to once per hour between today (Dec. 19) and 11:59 pm EST on Jan. 4. We thank you for your support and engagement over these past 20 years, and we wish you a happy and prosperous 2026.
- Categories
- Energy, Environment, Finance, Investing, Technology, Telecommunications, Transportation
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Backing First-Time SME Finance Vehicles in Emerging Markets: 10 Years of Data Reveals Successful Pathways — And the Role of Catalytic Capital
Earlier this year, the Dutch Good Growth Fund, managed by Triple Jump, along with Investisseurs & Partneraires (I&P) published comprehensive research based on data they’ve collected over the past decade, aiming to shed light on what makes SME finance work across emerging markets — and in Africa in particular. In this second article of their series on NextBillion, Julia Kho at Triple Jump and Marianne Vidal-Marin at I&P share key findings from this research, which revealed pathways that could enable first-time SME risk capital providers to move from concept to first investments — and showed how catalytic capital has enabled others to build lasting models.
- Categories
- Investing
- Tags
- impact investing, MSMEs, research
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Context Instead of Carbon: Why Climate Finance in Africa Must Shift its Focus from Mitigation to Adaptation
Global climate action has long been framed through a binary lens: either mitigation or adaptation. As Sheena Raikundalia at Kuza One explains, this framework shapes how funding flows, how projects are designed and even how “success” is measured: Mitigation attracts the bulk of funding because it produces measurable carbon outcomes and enables high-emitting countries to meet their net-zero targets, while adaptation's local benefits are harder to quantify, commodify or sell. She argues that this imbalance risks turning African landscapes into carbon farms for the Global North, and also obscures the fact that many of Africa’s most climate-smart solutions could be promising investments — if the current financing architecture would support them. NOTE: In celebration of our 20th anniversary, NextBillion is highlighting key guest articles from our two decades online. We’re currently focusing on the healthcare sector: You can read these featured articles below.
- Categories
- Agriculture, Environment, Investing
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Financing Off-Grid Solar: A Pioneering Provider in Honduras Shows the Impact of Diversified Funding
Honduras is one of the poorest countries in Latin America and the Caribbean, and many of its most remote regions remain unserved by the electricity grid. Richenda Van Leeuwen at Hummingbird Green Solutions and Richard Stuebi and Jesse Colman at Boston University explore how Soluz Honduras is bringing freezers and other solar products to these markets by leveraging a variety of different financing models — an approach that shows how diversified funding can enable businesses to serve even the hardest-to-reach areas and the poorest of customers.
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