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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.
- Categories
- 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.
- Categories
- 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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- Uncategorized
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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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- Uncategorized
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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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- Uncategorized
- Region
- South Asia
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How One Investment Fund Is Tackling America’s ‘Glaring Inequality’ Problem
Acumen, a New York-based nonprofit global venture fund, today announced it has begun investing in US startups aimed at serving underprivileged Americans.
- Categories
- Impact Assessment, Investing
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Acumen Launches Acumen America to Tackle Poverty in the United States in Partnership with the Robert Wood Johnson Foundation, Barclays and The Hitachi Foundation
Acumen, the nonprofit global venture fund, announced today the launch of Acumen America, a portfolio of American social enterprises focused on tackling poverty within the United States. Since its founding in 2001, Acumen has invested $101 million to build nearly 100 innovative enterprises addressing the problems of poverty in Africa, South Asia and Latin America. Now, after 15 years, the organization is bringing its impact investing model to the U.S. to help address the biggest issues facing the nearly 47 million people living in poverty. With the support of Robert Wood Johnson Foundation, Barclays and The Hitachi Foundation, Acumen is building a portfolio of U.S. companies with a focus on health, workforce development and financial inclusion.
- Categories
- Uncategorized
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Viewpoint: It’s Time to Green Our Financial Deserts
Since 2010, more than 5,000 bank branches have closed in communities across the United States. Meanwhile, expensive alternative financial service providers like check cashers and payday lenders continued to proliferate at an alarming rate. Not surprisingly, these two trends have disproportionately impacted hard-working people of color, trapping roughly 9 million African-American families in a world where it costs more to have less.
- Categories
- Uncategorized
- Region
- Sub-Saharan Africa
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