"In 2009, the International Institute for Environment and Development reported that as much as $360 million had been wasted on clean water projects in rural Africa. Water wells were built, but regular maintenance and other plans for long-term commercial sustainability were largely overlooked, leaving 50,000 wells in disrepair and jeopardizing the health and livelihoods of millions of people."
"Financial access has surged; the percentage of people with financial accounts grew worldwide from 51% in 2011 to 79% in 2024, according to the World Bank. However, low-income consumers and micro merchants are still disproportionately locked out of the digital economy, with 1.3 billion adults worldwide unbanked."
"The issues often boil down to disconnected initiatives designed to solve some aspects of a community's needs without addressing them holistically-and sometimes at cross purposes with other efforts."
In 2009, $360 million was wasted on clean water projects in rural Africa due to neglect of maintenance and sustainability. This issue persists across various sectors, including digital inclusion and financial health. While financial access has increased, many low-income individuals remain unbanked and face inactive accounts. The development model needs radical change to better support communities. Disconnected initiatives fail to address holistic needs, suggesting a more coordinated approach is necessary for effective solutions.
Read at Harvard Business Review
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