With Reid Hoffman’s Backing, Development Economists Build Segovia, A Startup That Tackles Poverty

Senior Field Officer Mike Otieno withdraws cash at an Mpesa kiosk in Kogelo on 23 October 2014 Six years ago, Paul Niehaus and Michael Faye were two Harvard-trained development economists who began a small, private experiment in East Africa. Instead of donating food, bedding or medical care or offering high-interest micro-finance loans, their model was just to give families cash. They gave families unconditional, cash grants of about $1,000 — or the equivalent of a… Read More

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