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Entrepreneurial Solutions for Prosperity in BoP Markets: Strategies for Business and Economic Transformation by Eric Kacou

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6. Build Trust

Against the Odds

Trust matters in business especially in financial services. Skeptics should look no further than the 2008 global recession. Issues with selected global banks almost sent the world economy on a downward spiral. The world is yet to recover from this trust-induced crisis.

Late 2008 is the time Emerging Capital Partners (ECP), an Africa focused private equity firm, chose to purchase a significant minority stake in la Nouvelle Societé Interafricaine d’Assurance Participations SA (NSIA), the leading insurance group in French-speaking West and Central Africa.1

While global insurance giants such as AIG were receiving bailout money to survive, NSIA attracted the US$47.7 million (€35 million) private investment in a show ...

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