Have you ever thought that your camera phone can actually capture more than the ordinary? Did you know that with just one snap you might be able to save lives and lift people out of hardship and poverty?
Yes, you can! At least one stranger in downtown Beirut believed so.
Here’s a simple example: Imagine you’re working on a complicated jigsaw puzzle without using the picture on the box top as a guide. How successful do you think you’ll be? After some trial and error, you’d probably give in to frustration, bring out the box top, and make easier work of the puzzle.
What if the puzzle you were trying to solve was to end extreme global poverty? How would you put the pieces together?
When was the last time you unfolded a map on your last road trip? Or went to the post office to mail a letter? With a few swipes of your thumbs, you can pay bills, buy and sell stuff, hold conference calls, and talk to your friends and family. Whatever you need, and everything you may not know you need, there’s an app for that. If you’re plugged in, the world is, literally, at your fingertips.
To get the pulse of an institution’s financial management and its room for growth, we must first look at its financial statements. The information in these statements is, of course, essential but often provides only a partial picture focusing on short-term returns.
To understand the true value created by an organization, we need to look more broadly. This necessitates going beyond traditional financial reports and spending time understanding how the institution manages its non-financial resources.
I have vivid memories of my first trip to Ghana. It was in July 2006 and I was in the country to do a research on Ghanaian farmers. It was in Accra, where I watched my team, Italy, win the FIFA World Cup final against France. Other than being a lucky charm to me, I thought Accra was a nice and safe town but,I felt that it had the potential to grow.
When I came back seven years later, I was pleasantly surprised by the changes. The city was dotted with new buildings, new roads, and had a really buoyant atmosphere. Of course, Accra is not representative of the whole country, but according to a recent report that Pierella Paci and I presented in October, growth and poverty reduction have been widespread in the country.
Now you may ask as to how Ghana was able to achieve this. In our report, Poverty Reduction in Ghana: Progress and Challenges, we show that sustained and , from 52.6% to 21.4% between 1991 and 2012.( Note: For comparing 1991 and 2012 poverty rates for both absolute and extreme poverty, the study used the 1999 poverty line. Official poverty rates use the new poverty line re-based in 2013.) The impact of rapid growth on poverty has been far stronger in Ghana than elsewhere in Sub-Saharan Africa. Indeed, until 2005 — far above the Sub-Saharan average of 1.6%.