Reversing the Flow of Innovation

The idea that consumers of the developing world are continuously playing catch-up with those in the first world, is becoming outdated. More and more, we are seeing innovations ‘defy gravity’ as they ‘flow uphill’ from poor to richer markets. This trend is known as reverse innovation, and refers to instance where an innovation is adopted first in poor or emerging economies before ‘trickling up’ too richer or more developed markets, often disrupting the status quo. Traditionally multinationals have followed a simple global strategy. First innovate for home markets, then enter new markets by following a globalisation strategy. Add some minor modifications and simplifications to address loca

Building a New Way to Pay

Within the emerging Fintech sector in Africa, the payment industry specifically has seen exponential growth. Despite cash being the most common method of payment, Africa is becoming a global leader in the use of mobile money, with platforms like mPesa facilitating transactions and financing across East Africa. Moreover, card payments is a rapidly expanding industry, as illustrated by the chart of Sub Saharan African transactions below. This is likely reflective of technology advances that make contactless payments faster and more secure than conventional cash transactions. What this means is that more and more African businesses are starting to accept new forms of non-cash payments. In South

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