NextBillion - A WDI Publication

Billionaire Salinas Seeks U.S. Entry to Target ?Unbanked?

Nov. 17 (Bloomberg) -- Ricardo Salinas, the Mexican billionaire whose banking and retail empire spans eight countries, is looking to bring his microlending business to the U.S. to capitalize on the opportunity with low-income customers. Grupo Elektra SA seeks clients at the "bottom of the pyramid" in terms of income and assets, and U.S. households with less than $25,000 in annual income fit that profile, Salinas said today in an interview at Bloomberg’s headquarters in New York. He ...

Source

Bloomberg Businessweek (link opens in a new window)

The South African ’Wonderbag’ Soon to be UNFCCC Accredited

A South African project that initially attempted to tackle poverty has shown potential to mitigate the effects of climate change and is expanding beyond the country’s borders. By Kemantha Govender, BuaNews The Wonderbag project - a recyclable, insulated ’cooker’ - focuses on developing countries and communities with high poverty, shortage of fuel supplies, high i...

Source

HEDON (link opens in a new window)

Region

Sub-Saharan Africa

19-Year-Old Vows To Disrupt Solar Industry

Canada’s Eden Full is just 19 years-old. But she’s known since she was three years-old that she’s wanted to be a scientist - of some sort. It wasn’t until she entered into a science competition at nine years-old and built her first solar car that she realized the potential for solar, particularly in areas around the world that remain without electricity. Just 10 years later, in 2010, Full succeeded in providing electricity, for the first time, to two villages in Kenya through ...

Source

Forbes (link opens in a new window)

Invest in Women

SANTA MONICA, Calif. (MarketWatch) - In the developing world, women have a critical stake in survival. And it turns out that investing in women is a good bet for a number of reasons. "We know that women are critical to economic growth and community stability," the organization Business for Social Responsibility says in a report, Investing in Women’s Economic Empowerment. "Research has also shown that women earning an income are more likely than men to invest in the education, nutrit...

Source

MarketWatch (link opens in a new window)

Region

South Asia

Omidyar Network Empowers Underbanked With Investment in Financial Services Innovator Mango

Omidyar Network today announced it has invested in Mango Financial, a leader in providing innovative financial solutions to underbanked individuals in the United States. The investment in Mango is part of the impact investing firm’s focus on supporting innovative financial services solutions that empower underserved U.S. consumers. Financial terms of the investment were not disclosed. Mango offers a s...

Source

The Sacramento Bee (link opens in a new window)

Adidas to Launch $1 Shoe in India

BERLIN: Adidas, the German sportswear and equipment maker, is to launch a shoe costing one dollar a pair in India, boss Herbert Hainer said, despite the failure of a similar venture in Bangladesh. He told the Sunday newspaper Die Welt am Sonntag that unlike in Bangladesh mass production would be possible to supply the growing Indian market. "The shoe will be sold in villages through a dis...

Source

The Economic Times (link opens in a new window)

Region

South Asia

Dalberg’s Call for Survey Participants

Dalberg Global Development Advisors is working with Harvard Business School’s new "Innovation and Entrepreneurship" course to survey leaders of innovative social enterprises on their recipes for success and views about the sector. The survey’s results will help the next generation of social entrepreneurs and bring urgent issues to the attention of policymakers. Leaders who would like to receive the survey should contact Daniel Altman, Dalberg’s director of thought leadership...

Source

Dalberg Global Development Advisors (link opens in a new window)

China Reports Dramatic Drop in Rural Poverty

China has reported a dramatic decrease in rural poverty over the last decade. The number of rural citizens living below the national rural poverty line fell from 94.2 million people (10.2% of the rural population) in 2000, to 26.88 million (2.8%) last year, according to figures released Wednesday by China’s State Council. The sharp drop occurred despite the fact the national rural poverty benc...

Source

CNN (link opens in a new window)

Region

Asia Pacific