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Fighting Poverty Through … Car Title Loans? A Q&A with Finova CEO Greg Keough
The words "car title loan" are usually associated with cycles of debt and repossessed vehicles rather than any positive social impact. But Finova, a Florida-based startup, hopes to change that image and disrupt the $5.3 billion emergency cash lending industry by providing un- and under-banked people in the U.S. with access to fairly priced loans, while improving their credit scores and helping them get out of debt. We spoke with Greg Keough, Finova's CEO, in this Q&A.
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Five Imperatives to Help Address the Challenges of Sustainable Rural Economic Development
More than two-thirds of the populations in the least-developed countries live and work in rural areas, where the proportion of people living below the poverty line is generally double that of urban areas. That makes the development of rural economies critical for poor countries to meet their sustainable development goals. Peter Harlock of VisionFund lays out five imperatives to optimise that development.
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Haiti’s Peanut Producers Oppose 500-tonne US Donation
Peanut producers in Haiti have united to block the delivery of a 500-tonne shipment of nuts from the US. They say the shipment threatens to undermine the livelihood of thousands of people in the country.
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- Agriculture
- Region
- Latin America
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Beyond ‘Africa Rising’ – The Emergence of the Not-Quite-Middle Class
The past five years or so have seen exuberant studies and predictions that Africa’s rapid growth was creating a new middle class that would transform governance and politics – the optimistic story of “Africa Rising.” But what we really see is not a rising middle class but rather a new group that lives on the cusp of poverty, getting by on $2 to $5 a day, and lacking the kinds of assets, job security, purchasing power and stability we associate with middle-class livelihoods.
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- Social Enterprise
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Seven Questions for Career Seekers – Finding Your Niche in Sustainable Development
In the fifth and final post in a series exploring careers in social innovation and global sustainable development for STEM professionals, Khanjan Mehta gives advice on how to get your foot in the door and network in order to "test-drive" different organizations. At the end of the day, he says, it's all about finding the right fit.
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- Education
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Storming the Walls – How Mozambique’s ‘Citadel Economy’ Shapes Financial Inclusion
In Mozambique, the combination of infrastructure deficit caused by colonial neglect and civil war, a centralist political economy, the sheer scale of poverty, and limited formal sector employment opportunities creates sharp income inequalities and shapes a "citadel economy," where high walls separate those inside and outside the enclave. This keeps financial service providers from reaching excluded target markets in the informal and agrarian economy. Christine Hougaard at Cenfri explores the problem and its potential solutions.
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USAID Commits More than $38 Million to Global Entrepreneurship
At the 2016 Global Entrepreneurship Summit, the United States Agency for International Development (USAID) announced four new investments totaling more than $38 million that will help mobilize the power of global entrepreneurs and innovators in the fight to end extreme poverty. These investments will connect innovators around the world with investors and capital to increase access to energy and expand food security in developing countries.
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Tata Trusts Inks Pact With The/Nudge Foundation
Tata Trusts and The/Nudge Foundation, a Bangalore-based non-profit working on poverty alleviation at scale on Tuesday inked a pact which will help the foundation to innovate on their flagship 'Programme in Life Management' in their Gurukuls, build the team needed to scale pan-India and gear up for a growth target of 7X in 2016-17.
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- Region
- South Asia