The markets alone cannot solve the problems of poverty; nor are charity and aid enough to tackle the challenges faced by over two-thirds of the world’s population living in poverty. Patient capital is a third way that seeks to bridge the gap between the efficiency and scale of market-based approaches and the social impact of pure philanthropy.
Nearly 47 million Americans live in poverty with millions more on the brink. The country’s social safety net is strained and the gap between rich and poor is only continuing to widen. This is a problem the government cannot tackle alone.
In the last few decades, East Africa has experienced unprecedented growth and a substantial increase in population. The number of people living in poverty, however, has increased by 100 million and income inequality remains across the region.
Pakistan is one of the fastest growing countries in the world and now has the sixth largest population with roughly 197 million people. Despite its rapid growth, more than 40% of its residents still live in poverty.