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Courageous Capital: How Africa Built its Own Tech Ecosystem
Africa’s tech sector has been thriving for almost three decades, during which its entrepreneurs have quietly built a self-sustaining ecosystem. And as Marsha Wulff at LoftyInc Capital explains, instead of government and charitable institutions taking the lead, it has been Africa’s own innovators who have developed its tech infrastructure and driven its commercial success. She explores how African entrepreneurs and investors have built a vibrant and resilient tech ecosystem that addresses the continent's unique needs — and taps its massive growth potential.
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- Investing, Technology
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Understanding Africa’s Broken Climate Finance System: How the Missing Layers in the Capital Stack are Holding the Market Back
Africa needs roughly $277 billion a year in climate finance to meet its 2030 climate goals. Yet as Gagandeep Bakshi at the William Davidson Institute and Santosh Singh at Intellecap explain, with annual flows of $44-50 billion, the gap is considerable — and investors are pulling back just as the need for this funding is growing. Making matters worse, they argue that the problem is not just in the numbers, since beneath these totals, there is a thin layer of capital piling into a handful of companies and countries, while missing layers in the capital stack prevent the emergence of a more balanced market. They explore how this issue is holding investors and entrepreneurs back, and propose a more effective approach.
- Categories
- Energy, Environment, Investing
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Financing the Future: How Off-Balance-Sheet Special Purpose Vehicles Could Fund Africa’s Cleantech Transition
Across Africa, founders are tackling some of the world’s most difficult development challenges with cleantech solutions that require significant capital expenditure. But according to Julia Lawson-Johns, and Amar Inamdar at KawiSafi Ventures, beneath this wave of innovation lies a capital architecture that is still too shallow to enable the scale these firms now require. They argue that off-balance-sheet financing via special-purpose vehicles could provide cleantech enterprises with an alternative means of securing upfront liquidity to finance growth, and explore how these vehicles could power Africa’s cleantech transition.
- Categories
- Agriculture, Energy, Finance, Investing, Transportation
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Flipping the Script on Investor Feedback: A New Survey Gives Entrepreneurs a Platform to Assess — And Influence — Their Impact Investors’ Practices
There have been a number of critiques of impact investing in recent months, targeting several common investor practices. Yet as Yaquta Fatehi at the William Davidson Institute (WDI) points out, these appraisals rarely come from entrepreneurs, who often receive feedback from investors, but typically lack the ability to respond in kind. She shares a new research initiative by Acumen and WDI called "Founders in Focus: The State of Impact Capital" that aims to change this dynamic: Instead of focusing on what entrepreneurs need to do differently to attract investment, it invites founders to capture their experiences with investors — both the good and the bad — in a structured manner that can spark actual change in the investing ecosystem. The survey is open to founders and C-suite executives across Africa, Asia and Latin America who have raised capital in 2024-2025: Respond by June 26 to add your views.
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- Investing, Social Enterprise
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Grant Dependency is Undermining Global Development: Here’s a Fundamentally New Architecture for Funding NGOs
Across the Global South, NGOs often function as the default conduits for addressing key development challenges in remote and marginalized populations. But as long-time development sector advisor Rajat Ray argues, these systemic problems cannot be solved by organizations that are perpetually teetering on the edge of financial suffocation, propped up by short-term, project-based grants. He explains how the survival tactics NGOs adopt to navigate this funding dilemma end up warping their operations and perpetuating some of the sector's biggest shortcomings. In response, he proposes an entirely new funding model — the “Diminishing Grant Framework” — that treats self-reliance not as an aspiration, but as a mandatory financial milestone.
- Categories
- Investing
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‘Deep Pockets’ vs. ‘Long Pockets’ in DPI: What Instant Payments and Open Finance Tell Us About Sustainable Funding for Digital Public Infrastructure
Digital public infrastructure (DPI) is gaining traction in emerging markets around the world. But as David Porteous at Integral: Governance Solutions and Rafe Mazer at Fair Finance Consulting explain, while the financial cost of building DPI may be modest, operating it at scale requires ongoing costs to be allocated across the ecosystem over time, making DPI sustainability fundamentally a governance issue centered on pricing policies. They explore how two of the three broadly accepted categories of DPI, instant payment systems and open finance, can develop credible mechanisms to finance long-term costs — while maintaining incentives for participants and trust among users.
- Categories
- Finance, Technology
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The Keys to Successful Blue Bonds: How Peru’s Strong Local Lending Systems Are Expanding Water and Sanitation Access
For millions of Peruvian families, one barrier stands between them and safe water and sanitation at home: access to affordable financing. Yet as Rocio Cavazos at Water.org explains, the financial institutions serving these communities face their own barrier: limited access to lower-cost capital. She discusses Water.org's efforts to support Peru’s two successful blue bond issuances, exploring how these bonds can allow lenders to offer more affordable loans for water and sanitation solutions — and sharing lessons from Peru's experience that can be applied by blue bonds in other markets.
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- Environment, Finance, Investing, WASH
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Selling the Outcome, Not Just the Appliance: What the Clean Cooling Sector Can Learn from Clean Cooking
The demand for cooling solutions will more than triple by 2050 — and based on current technologies and strategies, this increase will almost double cooling-related greenhouse gas emissions, worsening the very crisis that's driving this growth. Colm Fay, Ekta Jhaveri and Rajat Chabba at the William Davidson Institute (WDI) explore how sustainable cooling solutions could meet this rising demand, while cutting emissions by nearly two-thirds. To achieve that ambitious goal, they argue that the clean cooling sector should leverage the experience of the off-grid solar and clean cooking industries. They share insights from a new WDI report that highlights what clean cooling can learn from both the successes — and the flawed assumptions — of these sectors.
- Categories
- Energy
