Jacqueline Novogratz

But you started off thinking you would be a non-profit, a true social enterprise that started off with a two million pound grant.

And it's a really important point for all the social entrepreneurs in this room and the philanthropists, because we need the right kind of capital to enable people like Sitoyo to build markets that have never existed, particularly for low-income people, and that takes experimentation and failures and starting over again.

You've continued with that sense of the moral imagination to see yourselves not just to make money, although you make plenty of money,

but to solve social problems and to really understand who your customers are, even though, especially because, they might make one or two or three dollars a day.

Could you give me some examples of where that has continued to fuel who you are and how you operate?

In a moment of history where we have so little forgiveness seemingly, something I've learned in 40 years of working in and out of Africa is that quality of forgiveness.

And you've integrated that as well.

Just in 20 seconds or less, say something about the Financial Inclusion Fund.

We need this kind of thinking today.

I want to move to the adjacent possible because M-Pesa has essentially created economic rails, a whole platform on which many other industries can be built.

We've seen it in energy, in agriculture, in healthcare, and just want to have a conversation about how you've seen these adjacencies evolve.

Well, thank you.

It's actually an interesting story that needs to be told, especially in the world today as we're looking at so many frontier markets.

But the same year that M-Pesa started, a company called D-Lite started with a solar light and this dream of eradicating kerosene.

At the time, people had to pay daily for kerosene.

Like M-Pesa, they had to build trust,

understand the technology, build distribution, etc., the big area of friction was financing.

And for four years, the company struggled.

2011 and PESA, for the first time, married mobile payments with off-grid solar electrification.

So now you could bring electricity into your house,