Insights

Not every board member works out. Some stop showing up. Others undermine decisions or create division. A few turn out to be fundamentally misaligned with the mission or incapable of handling the role. And occasionally, someone who was once valuable becomes a liability as the organization evolves. Most founders know…

Most founders assemble advisory boards for the wrong reasons. They want credibility by association. They want impressive names on the website. They want to signal to investors that serious people believe in the company. And they end up with a list of people who ghost meetings, don’t respond to emails,…

If you ask ten economists what defines an emerging market, you’ll get ten slightly different answers. Low per capita income. Rapid GDP growth. Unstable institutions. Currency volatility. Weak rule of law. Transitioning economies. The list goes on. These definitions aren’t wrong, but they’re not particularly useful if you’re trying to…

If emerging markets are countries transitioning toward developed status, frontier markets are supposedly one step behind: smaller, less liquid, riskier, but full of untapped potential. That’s the pitch, anyway. The financial industry loves frontier markets because they sound exciting. Investors get sold on “getting in early” before these markets “emerge.”…

If you’re expanding into Latin America, Sub-Saharan Africa, or Southeast Asia and your entire marketing plan is built around Facebook and Instagram, you’re about to waste a lot of money. Digital advertising dominates conversations in US and European markets, but it often underperforms in regions where smartphone penetration, data costs,…

You send updates. No one responds. You schedule calls. Half the board doesn’t show up. You ask for feedback and get silence or vague encouragement that feels more like politeness than engagement. Your stakeholders haven’t formally walked away, but they’re not really present either. This pattern is common, especially in…

Fake invoices don’t arrive with a warning label. They show up in your inbox looking legitimate, professionally formatted, and often timed perfectly to slip past distracted finance teams. By the time you realize something’s wrong, the money is gone and the trail has gone cold. Vendor fraud is one of…

Peru’s Congress removed President Dina Boluarte early Friday morning with 121 votes, citing “permanent moral incapacity” to address organized crime. This marks Peru’s third president since 2022. The same Congress that removed Pedro Castillo has now removed his successor. As someone who has facilitated thousands of cross-border transactions across Latin…

Every experienced leader eventually faces it: a missed signal during due diligence that later becomes a liability. Sometimes it’s a concealed relationship. Sometimes it’s a partner with undisclosed debt, a founder with political baggage, or a “compliant” supplier that turns out to be an operational risk. Whatever the oversight, what…

When a threat surfaces—whether personal, political, or operational—team leaders on the ground often absorb the initial shock. Their instinct is to alert headquarters, seek cover, or step back entirely. But premature escalation can trigger an overreaction from donors, executives, or boards. The result is a double crisis: a rattled team…

In complex operating environments, compliance can become a performance. Financial reports are submitted on time. Procurement procedures are formally documented. Spending appears aligned with approved budgets. And yet—funds go missing, services fall short, and outcomes deteriorate. When donor rules are followed but money is still misused, the problem is not…

When evaluating a startup, much of the focus is placed on the founder. This is understandable. The founder sets the tone, articulates the vision, and often acts as the public face of the company. But in fragile markets or sensitive sectors, the founder is rarely acting alone. Capital often arrives…

Deciding to wind down a project, business, or operation is difficult. Communicating that decision to stakeholders is harder. When handled poorly, these conversations cause reputational damage, emotional backlash, or even legal exposure. But when done with structure and respect, notification can preserve trust, limit risk, and allow for future engagement—even…

Surprise visits are one of the few tools leaders can use to cut through polished updates, staged reporting, and unchallenged routines. But the objective is often misunderstood. These visits are not meant to expose individuals or punish teams. Their purpose is to reassert expectations, reestablish accountability, and observe what happens…

Realizing that a local partner may be involved in illicit financial flows is one of the most difficult positions a project lead, donor, or investor can face. The relationship is often established. Money has already moved. Public alignment may exist. But once the red flags are confirmed—or even strongly suspected—inaction…

Not every business is what it claims to be. Behind storefronts, digital platforms, or community ventures, some entities exist primarily to transfer, obscure, or clean money for other actors. These businesses are operational in form but hollow in function—designed less to sell a product or service and more to facilitate…

Investors and corporate strategists treat due diligence as a shield against unpleasant surprises. Yet many reviews rely on static checklists and desk research that overlook shifting power structures, informal networks, and on-the-ground realities. When those blind spots collide with complex environments, deals stall, assets underperform, and reputations suffer. A stronger…

In fragile markets or politically sensitive environments, the lines of authority can shift overnight. Permits are issued and revoked. New actors claim control. Field staff receive conflicting orders. In these moments, acting too quickly—or too confidently—can trigger legal exposure, political backlash, or reputational damage. A deliberate pause, not a rushed…

A signed financial statement often brings comfort. To boards, donors, and investors, it signals legitimacy. But in high-risk environments—especially where informal networks and layered loyalties dominate—a clean sign-off can conceal rather than reveal. The cash may already be gone, diverted through mechanisms that remain invisible to standard reviews. When this…

Most organizations operating in fragile markets treat civil unrest as background noise. Protests happen. Strikes disrupt operations for a day or two. Things calm down. Business continues. Until one day, they don’t. The transition from civil unrest to insurgency doesn’t announce itself. There’s no moment where protest movements officially declare…

In emerging or unfamiliar markets, many international organizations turn to local advertising agencies to execute outreach, mobilization, or visibility campaigns. When the partnership functions well, it delivers cultural resonance, logistical efficiency, and measurable impact. But over time, even the most promising local agency relationships can experience drift—subtle shifts in focus,…

Titles, reporting lines, and organizational charts often paint a clean picture of governance. But in complex or fragile markets, these formal structures rarely reflect operational reality. Power flows along lines of trust, control, and narrative—not just hierarchy. Nowhere is this clearer than in the advertising and communications process. If you…

When a project becomes reputationally, politically, or ethically compromised, leadership faces a critical decision: stay, fix, or exit. In fragile markets, even the appearance of contamination—from allegations, internal misconduct, or partner exposure—can be destabilizing. If left unmanaged, it spreads beyond the project itself, infecting donor confidence, staff morale, and organizational…

In high-risk regions, development projects, corporate investments, and even humanitarian operations can unknowingly intersect with organized crime. These links may be indirect, buried in supply chains, local subcontracting, or political patronage networks. Whether you’re deploying capital or delivering aid, exposure to organized crime presents not only a legal risk but…

Unauthorized redirection of client funds is not just a breach of protocol. It’s a threat to the credibility of your operation. Whether the act was malicious, opportunistic, or a result of unclear systems, your response must prioritize containment, trust repair, and legal exposure management. Especially in fragile or cross-border environments,…

Donor priorities—whether tied to governance, inclusion, sustainability, or transparency—are not just ideals. They shape how funding is allocated, how outcomes are measured, and how partnerships are judged. Yet in many settings, especially in fragile or transitional environments, some founders learn to mimic these priorities without embracing them. They speak the…

Crisis is inevitable in frontier markets and fragile economies. Supply chains break, political winds shift, funding cycles stall, and key personnel exit. For founders, these pressures can trigger more than strategic challenges: they can provoke emotional responses that ripple outward. A crisis doesn’t need to derail a project, but when…

When internal misuse of funds is uncovered—whether through fraud, mismanagement, or error—the immediate focus often turns to donors, auditors, or internal controls. But vendors are part of the risk environment too. If they’ve been underpaid, left waiting, or dragged into a dispute they didn’t cause, the damage goes beyond invoices.…

In cross-border investment and development work, regulatory arbitrage is often misunderstood as clever strategy. At its core, it involves exploiting differences between jurisdictions to bypass strict rules, reduce oversight, or access financial or legal loopholes. While it can offer short-term advantages, it introduces serious long-term risks. For investors, donors, and…

Risk frameworks, due diligence protocols, and third-party audits are designed to prevent failure. Yet in fragile economies and high-risk environments, even projects that pass every formal test can collapse without warning. Why? Because standard evaluation tools often miss the very dynamics that define real-world resilience. Institutional failure is rarely caused…