To Equity Bank chief executive James Mwangi, innovative business models are a core enabler for prosperity. Though Dr. Mwangi admits inclusive business models are difficult to implement correctly, he is arguably the most qualified to do so.
What is the Big Bet? To shift the current aid-based development approach to a more empowering and private sector-led development paradigm based on partnerships and the use of inclusive business models.
Why is there a need for this Big Bet? In 2015 the World Economic Forum identified rising income inequality as the most significant trend and ranked unemployment second. These trends constitute the most significant challenges in connection with the realization of the Global Goals.
What could be the effect of the Big Bet? Inclusive business models can democratize economic opportunities for the poor by integrating them into markets as producers and consumers. This can aid us all in creating shared prosperity across different segments of the population as envisioned by the Global Goals.