Posts by Morgan Babbs
The combination of advanced fintech with off-grid solar solutions has been a winning combo for Colibrí, a social enterprise devoted to promoting energy access in rural Nicaragua. Its Fácil-Pago technology, powered by Angaza Design, has succeeded partly thanks to the business' approach to an often-difficult financial task: responsibly assessing the credit-worthiness of unbanked customers. Morgan Babbs, Colibrí founder and CEO, explains why the approach to calculating credit-worthiness has resulted in exceeding low default rates among other advantages.
It’s easy to think of “the poor” in two-dimensional, homogenous terms and rattle off assumptions like "They’re poor people, aren’t they happy with anything?" or "Isn’t something better than nothing?" Incorrect. As the charity research organization SolarAid once put it, “The quickest way to fix a problem is the best,” and in most cases, that means quality.