In our Finance Boutique we worked out a Model of intervention, to mitigate the poverty via jobs creation and providing opportunities for people’s better living conditions and business prosperity. The Model aims at promoting growth via business approach.
The Inclusive Growth can be achieved re-examining the development finance agencies’ approach. To make it the story short: changing the development objectives without updating the approach to achieve them could leave things as before. Honestly, we must say that phasing out last century’s micro finance idea (credit sorting out from the poverty) and replacing it with financial inclusion has been a substantial step ahead. Now it is a question to make a further step and advice financial & technological providers on the real meaning of financial inclusion, which isn’t giving a smart electronic device; see: Open letter to Fintech https://ascaniograziosi.net/2016/10/27/162/
We do think that bankers, lenders and financiers should be aware about the new market situation while sitting around the table and play the digitalisation with the technologists, the main focus of the attention being the individual and not the group. Indeed, a smart phone connected to a finance institution is personal product. Moreover, the Players’ objectives and interests are different and accordingly Financiers and Technologists have different strategy, when it comes to decide the target. This does mean they have to reach a balance between sustainability and expansion: providing sustainable products at affordable and transparent price; accordingly, the market segmentation approach should be revised.
To really translate into action the SDGs there isn’t a need to change the rules of finance game but to review and revise the approach to understand what’s going on and take action. We did it taking from our “tools box” of extensive field experience and expertise on development finance issue.
In other words, we plaid the inclusive growth game with the cards distributed by the Big Financial Players and then elaborated a Model of intervention: MOVING FROM CREDIT-BASED ECONOMY to COMMUNITY BASED ECONOMY
Here is a practical example. Referring to IFC Program in Mena Countries, even a small slice of planned $ 2 billion could make it the difference.How do it? Getting into a development scheme the truly committed national investors & entrepreneurs and provide them with the seed capital for setting up a National Fund in each Country.
Africa Investors could act taking the opportunity we have made available with FUNDRAISING CAMPAIGN for JAMBO FUND: https://ascaniograziosi.net/2017/06/13/seven-questions-about-jambo-fund/. Interested capitalists may have details addressing their inquiry to ascaniograziosi@gmail.com
However, it has been said that“African investors remain risk-averse” and …. the funding requests lack speaking the language required for investment” https://ascaniograziosi.net/2018/05/28/the-digital-economy-in-africa-could-be-a-gamble-because-investments-matter/ . The situation is well-known to the Africa business insiders. And if WB-IMF, the African Entrepreneurs and the Nigerian businessman and banker Tony Elumelu (Africapitalism) (https://www.linkedin.com/pulse/africapitalism-creating-shared-value-community-based-economy-ascanio/) said that, we must believe them.
On the matter we said that the extent to which the above comments are actual, the best way to face the situation is to take financiers & entrepreneurs onboard, learning by doing being the appropriate way to disseminate the language required for the investments. Finally, having the national development actors taking in their own hands the future of their communities is per se an innovative approach and is the real meaning of the Community-Based Economy, which we have presented in our recent book POVERTY – An Alternative Paradigm: MOVING FROM CREDIT-BASED ECONOMY to COMMUNITY BASED ECONOMY https://www.morebooks.de/store/gb/book/poverty-an-alternative-paradigm/isbn/978-613-8-45817-3
Ascanio Graziosi 
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