Market Entry & Intelligence

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…

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…

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…

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 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…

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…

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…

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…

Auditors play a central role in safeguarding institutional integrity. But when red flags arise—particularly in high-risk or opaque jurisdictions—some auditors look the other way. Whether due to distance, pressure, or deference, ignoring warning signs isn’t just a professional lapse. It’s a systemic failure that enables fraud, exposes investors, and leaves…

International ad agencies often arrive in informal economies armed with polished decks, global portfolios, and high production values. They speak the language of awards and metrics. But despite their creative assets, many of these firms consistently underdeliver. In economies where cash circulates off the books, trust is earned in person,…

In complex or fragmented markets, local campaigns often get greenlit based on urgency or proximity, not evidence. Billboards go up. Radio ads run. Local agencies report “good engagement.” But actual demand doesn’t materialize. Whether you are funding a program, investing in a startup, or backing an advocacy initiative, knowing whether…

Hiring local counsel is a standard step in international projects, especially in fragile or politically complex jurisdictions. But the assumption that local legal advisors are safeguarding your interests can become a liability when their silence masks deeper risks. Deference, fear, or institutional capture can lead to a dangerous dynamic: a…

In emerging markets and fragile jurisdictions, abnormal startup growth is often praised without scrutiny. Revenue appears before traction. Headcount surges without a clear business model. Offices expand while customer numbers remain opaque. Sometimes, these signals point to aggressive scaling. Other times, they point to something more serious: a front for…