Rating

9

Qualities

  • Innovative
  • Visionary
  • Inspiring

Recommendation

The world’s poorest people lack equal access to financial products, but social entrepreneurs around the world are stepping up to the challenge. Nobel laureate Muhammad Yunus developed innovative microloans, which have pulled millions out of poverty. Identifying another gap in the finance market, economist Rose Goslinga established microinsurance for African farmers to protect them from drought. Her idea could potentially bring lasting change and prosperity to people in Africa and beyond. getAbstract recommends Goslinga’s insights to foundations, philanthropies and insurance firms operating in the developing world.

Summary

Kenya’s 1984 famine ranks among the worst in modern times. That year became known as the year of the goro goro, which is a container that measures two kilograms of maize flour, the main ingredient in ugali, a doughy cake served with vegetables. One goro goro of maize provides enough sustenance to feed an average family three meals. But in 1984, the average farmer’s entire harvest amounted to a single goro goro. Today, microinsurance offers a safety net to farmers, protecting their crops and livelihoods from the threat of drought.

In 2008, Rwanda’s minister of agriculture asked economist Rose Goslinga to develop an insurance scheme for Rwandan farmers. By 2013...

About the Speaker

Rose Goslinga developed a microinsurance program to assist small-scale farmers in Africa.


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