Financial inclusion is usually presented as an unquestionable good. More people with access to bank accounts, credit and digital payments should mean more opportunity, greater resilience and stronger economic development.

But the reality is more complicated.

In this episode from the Emerging Markets Today archive, I speak with Emmanuel Daniel, founder of The Asian Banker, about financial inclusion, the evolution of banking and the assumptions behind efforts to bring more people into the formal financial system.

We discuss where financial inclusion has genuinely improved people’s lives, but also where access to financial products can create new risks. The conversation looks at credit, banking infrastructure, technology and the changing role of financial institutions across emerging markets.

Emmanuel also challenges some of the conventional thinking around inclusion, including whether access alone is a useful measure of progress and what happens when financial products are introduced without considering how people actually use them.

Originally published in 2023, this conversation still raises important questions about what meaningful financial inclusion looks like, how technology is reshaping access to money and whether bringing more people into the financial system always produces better outcomes.

Listen and follow Emerging Markets Today:

Podfollow: https://podfollow.com/emerging-markets-today

Substack: https://emergingmarketstoday.substack.com

Website: https://emergingmarkets.today

Some of Latin America’s most interesting startups are not building the products that attract the biggest headlines. They are solving practical problems in logistics, payments, business software and other parts of the economy that still do not work particularly well.

In this episode from the Emerging Markets Today archive, I speak with Daniel Lloreda, co-founder and managing partner of HTwenty, about investing in early-stage businesses across Latin America and the United States.

We discuss what Daniel looks for before investing, why valuations in Latin America differ from those in the US, and where he sees opportunities beyond the region’s best-known fintechs and consumer apps.

Daniel also explains why less glamorous, or “unsexy,” businesses can offer some of the strongest opportunities. These companies may receive less attention, but they are often solving costly, everyday problems for businesses and consumers.

Originally published in September 2023, this conversation still raises important questions about what innovation really looks like in Latin America, which companies attract venture capital and whether the most valuable startups are always the most visible ones.

Listen and follow Emerging Markets Today:

Podfollow: https://podfollow.com/emerging-markets-today

Substack: https://emergingmarketstoday.substack.com

Website: https://emergingmarkets.today

Building a digital business in an emerging market often means developing the talent, infrastructure and systems the company needs while trying to grow at the same time.

In this episode from the Emerging Markets Today archive, I speak with Aziz Musa, founder of Cush Digital, about building a digital marketing company in Sudan and later moving its operations to Egypt.

We discuss how Cush Digital trained young people in digital skills, why Aziz hired for potential rather than experience, and what it takes to run a company amid unreliable internet, electricity cuts and political instability.

Aziz also shares the difficult decision to leave Sudan, rebuild the business in Egypt and explore new opportunities across the Middle East, including Saudi Arabia.

Originally published in 2023, this conversation still raises important questions about entrepreneurship, talent development and how businesses adapt when the market around them changes almost overnight.

Listen and follow Emerging Markets Today:

Podfollow: https://podfollow.com/emerging-markets-today

Substack: https://emergingmarketstoday.substack.com

Website: https://emergingmarkets.today

Access to healthcare is only part of the challenge in emerging markets. Patients also need reliable diagnostics, consistent standards and a system they can trust.

In this episode from the Emerging Markets Today archive, I speak with Sylvana Q. Sinha, founder of Praava Health, about building a more patient-focused model of private healthcare in Bangladesh.

We discuss why many middle-class patients still travel abroad for treatment, how better digital infrastructure could improve the patient experience, and what it takes to build trust in a healthcare brand from the ground up.

Sylvana also shares the challenges of raising capital as a woman founder in an emerging market, even when the business is addressing a clear and urgent need.

Originally published in April 2023, this conversation still raises important questions about healthcare infrastructure, entrepreneurship and who gets funded to solve the biggest problems in emerging markets.

Listen and follow Emerging Markets Today:

Podfollow: https://podfollow.com/emerging-markets-today

Substack: https://emergingmarketstoday.substack.com

Website: https://emergingmarkets.today

Temu is now the most downloaded app across Europe. A Chinese e commerce platform that grew fast enough to push aside long-established Western players.

I wanted to understand the mechanics behind this shift, so I invited sustainability expert John Pabon back to Emerging Markets Today.

John lived ten years in China and saw the country move from the wild factory era to a more regulated system.

He explains how Temu scaled through logistics, supplier depth and influencer culture, and how China’s internal reforms shaped that growth. We talk about labor rights, fast fashion, greenwashing and the difference between Temu’s business model and Shein’s public messaging.

John is direct about what buyers get wrong, what companies hide and what the sustainability world avoids discussing. This conversation gives a clearer picture of China, Temu and the global retail system behind them.

Watch the episode on Spotify or video, or read the full analysis on Substack:
https://emergingmarketstoday.substack.com/

Also listen to my first episode with John here: https://emergingmarkets.today/china-the-global-leader-in-sustainability/

More from John Pabon:
Website: https://www.johnpabon.com/
The Great Greenwashing: https://houseofanansi.com/products/the-great-greenwashing
Sustainability for the Rest of Us: https://www.adlibris.com/sv/bok/sustainability-for-the-rest-of-us-9780648918431

[00:00] John Pabon joins the episode
[03:10] The EU map where Temu dominates 2024 downloads
[05:23] Why Temu scaled so fast across Europe
[09:44] China’s sustainability shift and new labor rules
[12:54] Should you feel guilty buying from Temu

In this episode, I’m joined by economists Elijah Oliveros Rosen and Harumi Hasegawa Sanchez from S&P Global Ratings.

We unpacked why Latin America’s 2024 unexpectedly outpaced forecasts, and why two of its largest economies—Mexico and Colombia—are heading in very different directions.

We explore how trade tariffs hit Asia harder than Latin America, how a weak dollar and interest-rate shifts brought capital into the region, and how AI helped global risk appetite—and how Latin America both benefitted and lagged. We then shift to country-level analysis:

• Mexico: strong trade ties, lower public investment, resilient performance.

• Colombia: weak growth, sticky inflation, fragile fiscal framework.

We close with a look ahead to 2026 and what investors should watch next.
Don't forget to subscribe to our Substack here

You can also explore latest credit-market research at S&P Global Ratings.
https://www.spglobal.com/ratings/en spglobal.com

[00:00] Latin America overview and why Mexico and Colombia were chosen
[03:30] Why US tariffs hit Asia harder and helped Latin America
[06:00] Capital inflows rise as the Fed cuts rates and the dollar weakens
[08:30] AI lifts global asset prices and why Latin America is missing the data center boom
[10:20] Mexico’s resilience despite low growth and USMCA uncertainty
[13:00] Colombia’s weak growth, sticky inflation and fragile fiscal position

Brazil is one of the most promising ride-hailing markets in the world — but it’s also one of the toughest to win. In this episode, Ana Paula Picasso sits down with Luiz Fittipaldi, former global strategist at Bolt, to unpack why global players like Uber, Didi, and others face unique hurdles when entering the Brazilian market.

From regulation gaps to payment challenges, Luiz shares first-hand insights on what works, what doesn’t, and where the real opportunities lie — especially in tier-2 and tier-3 cities and frontier markets.

For more stories on innovation and emerging markets, visit www.emergingmarkets.today and subscribe to the Substack newsletter: https://emergingmarketstoday.substack.com

You can contact Luiz Fittipaldi here https://luizfittipaldi.com/

00:00:00 — New Season Kickoff: guest Luiz Fittipaldi, former global strategist at Bolt.

00:02:14 — Who Owns the Road in Brazil: A deep dive into the ride-hailing landscape: Uber, 99 (Didi), and the smaller challengers trying to break in.

00:05:11 — Why Brazil Attracts Global Players: Luiz explains why Brazil’s size, infrastructure gaps, and urban mobility issues make it a strategic market.

00:08:02 — Cowboy Style vs Regulation: How Uber and other players grew fast in Latin America with little pushback, and why that doesn’t work in Europe.

00:12:30 — Cash, Cards, and PixBrazil’s payments puzzle: from cash-based habits to leapfrogging with Pix and digital wallets.

00:16:13 — Cracking the Market (or Not): Luiz lays out hard truths and smart strategies for anyone trying to enter Brazil’s ride-hailing market.

00: 21:45 — Beyond Bolt: Frontier Markets - From Bolt to mentoring startups, Luiz shares why frontier markets like Kazakhstan and Tajikistan are the next big play.

I’m back with a new season of Emerging Markets Today.

This year, I’ll explore how technology and innovation grow where infrastructure, regulation, and creativity meet — from fintech and ride-sharing to digital identity and trade.

Each episode brings real stories and insights from people building the future of emerging markets.

The first episode, Ride-Sharing Strategy in Emerging Markets, drops later this week. You’ll be able to watch it on Spotify or Substack.

Subscribe on emergingmarketstoday.substack.com to get new episodes and insights straight to your inbox.