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Gates Foundation informed of local risk management practices in Nigeria

1 report, 1 independent Updated Mon 00:00
AI-generated briefing. Brind wrote this from the reports listed below. It can be wrong. Each section says how much you can rely on it, and the sources are linked so you can check.

What happened

Some supportReported by 1 outlet

The Gates Foundation received information regarding local risk management practices in Nigeria. One report details Feedwell, a business in Lagos Island Market that utilizes the age-old Nigerian thrift practice known as esusu. Feedwell collects small daily cash deposits from vendors, providing them with liquidity management without traditional financial instruments.

From lbs.edu.ng

Why it matters

Some supportBrind's analysis of the reports

The practices described show that Nigerian entrepreneurs have built informal risk-management tools to help traders absorb shocks and maintain cash accessibility. These methods provide a functional alternative to formal financial services for those without treasury departments.

From lbs.edu.ng

Who's involved

  • Gates FoundationPrivate foundation that partners with Nigerian health and development initiatives
  • NigeriaSovereign state in West Africa where these local financial practices operate

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Coverage

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