A new model of microfinance for Africa, and beyond | Viola Llewellyn | TED Institute
Financial institutions often impose Western models of risk assessment, which are often ill-fitted for diverse global markets -- especially in Africa, a continent made up of thousands of ethnic and cultural groups and more than 2,000 languages. Fintech entrepreneur, Viola Llewellyn, is determined to properly tap into the continent’s potential for wealth. Her firm, Ovamba, combines AI and local knowledge to develop custom risk models and algorithms, designed for Africa but applicable beyond. Llewellyn’s work means previously overlooked entrepreneurs now have the opportunity to access vital capital to grow their businesses. “In digitizing our future, we will preserve the beauty of our culture and unlock the code of our best wealth traits,” she says. "Becoming global citizens gives us a seat at the table as equals.”
About the TED Institute: We know that innovative ideas and fresh approaches to challenging problems can be discovered inside visionary companies around the world. The TED Institute helps surface and share these insights. Every year, TED works with a group of select companies and foundations to identify internal ideators, inventors, connectors, and creators. Drawing on the same rigorous regimen that has prepared speakers for the TED main stage, TED Institute works closely with each partner, overseeing curation and providing intensive one-on-one talk development to sharpen and fine tune ideas.
Learn more at http://www.ted.com/ted-institute
Follow TED Institute on Twitter @TEDPartners
Subscribe to our channel: https://www.youtube.com/user/TEDInstitute