Book: The Blue Sweater
The Blue Sweater: Bridging the Gap Between Rich and Poor in an Interconnected World is the story of Jacqueline Novogratz, a banker turned microfinancier and world changer, who felt that big commercial banks had nothing to offer the poor. Having always wanted to do good , she turned her back on finance and started working with a nonprofit microfinance organization in West Africa.
The Blue Sweater is the account of her experiences there and an attempt to convince people that traditional charity is not the way forward; putting forward the belief that if poverty is ever going to be reduced in a substantial way, it must be accomplished through teaching others how to take care of themselves, how to build their own businesses and how to successfully run their companies. The book can now be pre-ordered.
The title refers to the author's blue sweater, a piece of clothing she cherished until the day she outgrew it and gave it away to goodwill. When she spotted it on a young Rwandan boy eleven years later, with her name still on the tag inside, she saw it as proof of how we are all connected in this world.
Jacqueline Novogratz is not only a writer, but also an entrepreneur herself. She has a B.A. in economics and international relations and an M.B.A. from Stanford. She is a former banker at Chase and now founder and CEO of the Acumen Fund.
The Acumen Fund is a nonprofit global-venture fund making investments in companies offering market-based solutions to global poverty. Acumen's business model combines a long-term, low-interest-rate investment --or "patient capital" as Novogratz dubs it--with hands-on management expertise in the fund's primary areas of interest: health, water, housing, and energy. The ventures they have invested in range from a company in Tanzania manufacturing anti-malaria nets to an Indian company making drip irrigation kits in India and Pakistan.



