NextBillion - A WDI Publication

Out of Africa: A Continent of Entrepreneurs

We’re used to seeing Africa as poor and helpless, and it certainly has its problems. However, it’s also a hotbed of entrepreneurship, where phone-fixers, DVD hawkers, clothes sellers and internet start-ups are thriving. MANCHÁN MAGAN visits Mozambique and finds a country more suited to investment than pity IT WAS the scene where Leonardo DiCaprio walks through a bustling African market in the movie Blood Diamond that finally o...

Source

Irish Times (link opens in a new window)

Region

Sub-Saharan Africa

Kevin Hassey Appointed President of VisionSpring

Press Release: VisionSpring is proud to announce the new appointment of Kevin Hassey as President. In this new role, Mr. Hassey will oversee global operations and lead the implementation of VisionSpring’s growth strategy across Asia, Africa, and Latin America. "I am excited to join VisionSpring at this key moment in VisionSpring’s expansion. We have a great opportunity to restore the sight and transform the lives of hundreds of millions of people i...

Source

PR Newswire (link opens in a new window)

MIT Start-up Focuses on Sanitation Needs of Poor

Some 2.5 billion people lack access to adequate sanitation and a small start-up launched by MIT students is aiming to do its part to help address the global problem. Sanergy provides low-cost sanitation facilities in the slums of Nairobi, Kenya, and converts the waste to salable byproducts. "Our goal is to make sanitation hygienic, accessible and affordable for the 8 million people in Kenyan slums," said David Auerbach, a co-founder and MBA candidate at MIT. Sanergy started ...

Source

Boston Herald (link opens in a new window)

Region

Sub-Saharan Africa

What?s Cooler Than a Million Dollars? Changing a Million Lives

Henry Ford once said that a business that makes nothing but money is a poor business . Impact investing takes that idea to a new level. Impact investors look for businesses that have a positive social or environmental impact as well as the potential for financial return. These enterprises can be anything from schools to mobile carriers...

Source

Venture Beat (link opens in a new window)

Investors Assume the Worst for SKS Microfinance

That SKS Microfinance Ltd will have to write off part of its Andhra Pradesh (AP) loan book is inescapable. If there is any difference of opinion among brokerages, it is just in the matter of degree. Some assume 40% of its AP advances will have to be forgone, while others paint a bleaker picture at 90%. The fourth quarter (Q4) results of the firm make for grim reading, with falling net interest income, spreads and return on assets. Not only did SKS lose Rs. 70 crore, its collec...

Source

LiveMint (link opens in a new window)

Region

South Asia

Gates, Ford, Kellogg Families Target Food to Ease Unrest

Foundations supported by Bill Gates and the Ford, Kellogg and Walton families are combining to relieve stresses on the food supply that are pushing prices higher and adding to unrest around the globe. Their initiative, called AGree, announced in Washington, will fund agricultural research and analysis that will...

Source

Bloomberg News (link opens in a new window)

EDUCATE!?S Winner of the 2011 Young Innovator For Social Justice

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Gates to Unveil Challenge to Advance Agricultural Development

U.S. billionaire philanthropist Bill Gates will announce on Monday (May 9) a challenge that aims to help small farmers in poor countries grow and sell more products. The Bill & Melinda Gates Foundation co-founder is expected to encourage people to help spread the word: investing in small farmers so they can boost their production is key to reducing poverty and hunger, Devex was told in an email. The challenge is linked to remarks Gates is expected to deliver at a global agricu...

Source

Devex News (link opens in a new window)