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Break No Promises
With $500 million and marching orders from the Gates Foundation, banks, microfinance institutions, mobile phone operators, regulators, retailers, and telecom companies, will now venture into a world filled with informal financial mechanisms, often deeply embedded in culture and history. Will these informal mechanisms be brought along or trampled?
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Shining a (Solar) Light on Patient Capital
The IFC/World Bank’s Lighting Africa Program report, Solar Lighting for the Base of the Pyramid, found Africa will be the world’s largest market for solar portable lights by 2015. But it will remain only potential without patient capital. Acumen CEO Jaqueline Novogratz says acceptance of patient capital is moving far faster than microfinance did.
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