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The Power of Results-Based Funding for Poverty Alleviation: What We Learned from Africa’s First-Ever Development Impact Bond – and What’s Next
Development impact bonds (DIBs) are an innovative, results-based funding model with the potential to reduce poverty and make aid more effective. To assess their impact, a randomized controlled trial was conducted on Africa's first-ever DIB for poverty alleviation, which supported a poverty graduation program implemented by Village Enterprise. Dianne Calvi at Village Enterprise and Brian Boland at the Delta Fund (one of the nine philanthropic investors in the DIB) discuss the results of this study, what they mean for the sector, and how results-based funding can evolve to maximize its impact.
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- Impact Assessment, Investing
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A Portfolio Approach to ESG and CSR: Why Supporting Social Entrepreneurship Accelerators Makes Sense for Corporate Funders
Many corporations seek to support social enterprises as a way to meet their environmental, social and governance (ESG) or corporate social responsibility (CSR) goals. But as Brigit Helms at Miller Center for Social Entrepreneurship explains, corporations often find it challenging to identify and engage with these enterprises one at a time, and instead prefer to work with social enterprise accelerators. She shares insights from a recent Miller Center white paper that attempts to quantify the benefits corporate partners can obtain from supporting these accelerators.
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- Investing, Social Enterprise
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Bringing the Digital Media Revolution to Africa: How Innovative Local Publications are Positioning Themselves for Rapid Growth
In Africa, legacy media outlets – both foreign and domestic – are often criticized for being politically biased and racially tone-deaf, while overlooking topics of critical importance to the public. But according to Tomiwa Aladekomo at Big Cabal Media, a new generation of digital publications are highlighting the issues and perspectives that legacy publishers have avoided. He explores how these innovators are navigating the inherent difficulties facing the media industry in Africa, while linking the journalistic strengths of traditional media to the youthful energy and global reach of social media.
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- Technology, Telecommunications
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Fonio as a Cash Crop: How an Ancient Grain Can Provide a Solution for Food Security in West Africa – And a Model for Biodiverse Agriculture Around the World
Globally, most people rely on a handful of staple crops – namely, rice, corn and wheat – for sustenance. Pierre Thiam and Philip Teverow at Yolélé argue that, with the escalating risks of volatile geopolitics and climate change, this dependence makes humanity unacceptably vulnerable. They explain why the world must turn to biodiverse crops to achieve lasting food security in the face of these challenges, and explore the benefits of one such crop in particular: fonio, an ancient West African grain that can offer farmers not only subsistence, but a livelihood.
- Categories
- Agriculture
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Applying Behavioral Science to Program Staff: An Under-Explored Path to Strengthening Global Anti-Poverty Programs
Evidence suggests that applying behavioral science to global anti-poverty programs can increase their impact—typically by encouraging positive behaviors among program participants. But Mukta Joshi and Faraz Haqqi at ideas42 point out that the behavior of program staff has not received the same level of attention, even though staff directly shape a program's potential for impact. They explore how behavioral science can be used to optimize the behaviors of anti-poverty program staff, offering a powerful new channel for improving lives and livelihoods.
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- Uncategorized
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Efficiency vs. Effectiveness: What Low- and Middle-Income Countries Can Learn from a Key Business Mistake in the Developed World
Over the centuries, free enterprise has excelled at driving efficiencies and innovations, from the cotton gin to the sewing machine, that have powered societal development. But author and entrepreneur Ed Chambliss argues that, as societies grow more prosperous, an overemphasis on business efficiency – as embodied by the concept of shareholder primacy – is no longer enough. He urges businesses in developed countries to broaden their focus to include all their stakeholders' diverse needs – and encourages businesses in developing countries to adopt this broader definition of sustainable success.
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- Social Enterprise
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Finding Value in Food Losses and Byproducts: Why Circular Agribusiness is Key to Sustainable Food Security in Africa
Food waste and spoilage are major problems in Africa: For example, between 25% and 44% of mangoes are lost across the value chain in Kenya. Brenda Wangari at Village Capital and Patrick Guyer at Bopinc discuss an innovative solution to this challenge: circular agribusinesses that turn food waste and byproducts into affordable, nutritious foods and organic fertilizers. They explain how the O-Farms program, Africa’s first accelerator focusing entirely on circular agribusiness, is supporting these enterprises, and how this approach can help ensure food security on the continent.
- Categories
- Agriculture
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The Leapfrog Opportunity in ‘Know Your Customer’ Innovation: Why Africa Needs Local, Digitized KYC Solutions
Know Your Customer (KYC) is a critical process for banks, as it enables them to validate their customers’ identities to fulfill regulatory requirements and protect against fraud. But as Timbo Drayson at OkHi explains, KYC is a big and expensive problem in Africa: For instance, in Nigeria some banks are spending up to $1 million per year to manually verify identities, and 15-30% of customers never complete these processes. He explores three key challenges to KYC in Africa, and presents some tech-driven solutions that could allow the continent to leapfrog to a new global best practice for KYC.
- Categories
- Finance, Technology