Quotable: Ebay founder on impact investing
June 13, 2013 Editor 0
In advance of the upcoming G8 meeting, the founder of ebay writes on The HuffingtonPost about whether our international economic system can address massive inequity, citing the billions of people that global capitalism has left behind.
We know firsthand that market-based solutions can be a powerful way to create jobs and deliver services to those who need them – at the scale required in a world of seven billion people. And we are especially heartened to see a new movement afoot called “social” impact investing, which explicitly seeks to apply the power of the market to help solve stubborn economic and social challenges.
– Pierre Omidyar, ebay founder
Impact investing, Omidyar notes, is a financing tool with enormous potential to help us reach social goals, by providing the upfront seed funding needed to get ideas off the ground, which can then be scaled to reach more peopleif they work. He cites M-PESA as a prime example, having been initially funded with money from Vodafone and the UK Department for International Development. “Launched in 2007, it now provides 15 million Kenyans – the vast majority of whom had previously no access to traditional bank accounts – the opportunity to deposit, withdraw and transfer funds through their mobile phones.”
Click on our stories below for more about impact investing, and follow the G8 next week to see if the concept is given further thoughtful due diligence by the world’s wealthiest nations.
- Growing KFC: When exploiting markets may exploit farmers
- Narratives of transition from social to enterprise: You can’t get there from here!
- Weighing in on Obama’s Power Africa program: Pros and cons
- South African missile company aiming to develop new products
- Knowledge sharing amongst academics in UK universities
- Visionary African Plant Breeders Tackle Issue of Better and More Available Seed for Farmers
Subscribe to our stories
- SL Crowd Green Solutions September 21, 2020
- Digital transformation in the banking sector: surveys exploration and analytics August 3, 2020
- Why Let Others Disrupt You? Take the Smart Self-Disruption Journey! August 3, 2020
- 5 Tips for Crowdfunding During the Pandemic August 3, 2020
- innovation + africa; +639 new citations August 3, 2020