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This podcast is brought to you by wise, the app for international people using money around the globe. With WISE, you can send, spend and receive up to 40 currencies with only a few simple taps and save up to 55% compared to major banks. Plus, wise won't add hidden fees to your transfer. Whether you're buying souvenirs with pesos in Puerto Vallarta or sending Euros to a loved one in Paris, you know you're getting a fair exchange rate with no extra markups. Be smart join the 15 million customers who choose WISE. Download the WISE app today or visit WISE.com learn more by visiting WISE.com us compare T's and C's apply.

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You're listening to TED Talks Daily where we bring you new ideas to spark your curiosity every day. I'm your host Elise Hu. For many refugees across the world, opportunities are often extremely limited. And yet social entrepreneur Julianne Euler sees entrepreneurship as a powerful path to creating jobs and rebuilding lives. In her talk, she highlights why it's vital to go beyond aid and invest in refugee led businesses in order to break down borders and dispel harmful stereotypes.

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Recently, after a long day of back to back meetings, I decided to treat myself to some ice cream. So leaving the office, I crossed a busy road lined with solar panel street lights, ducked into a shop, walked right past the vegetables and back to the cookies and cream. This was in Kakuma, a refugee camp in northern Kenya, home to 400,000 displaced persons, local Kenyans, solar panel, streetlights and ice cream. Few camps in Africa are as bustling as Kakuma, and it hasn't always been this way. Kakuma was never meant to be a place for human potential to thrive. In the local Turkana language, the word Kakuma translates to nowhere. When the camp was Established in the 1990s, it served as an important refuge for those fleeing war in Sudan. But it was isolated with extreme heat and poor infrastructure. Today, with over 10,000 businesses, Kakuma serves as the economic hub for over a million people in the surrounding area. With a variety of shops, cafes, yoga classes, and nearly $100 million in market consumption each year, Kakuma is far from nowhere. So what led to this remarkable transformation from remote refugee camp to thriving community? Well, it's because of the ingenuity and determination of the people who live there. Displaced persons and their Kenyan hosts together building solutions to their community's most pressing problems. Because forward looking investors saw potential, private sector companies took a chance. And the governments and UN agencies advocated for entrepreneurs. Entrepreneurs like Adela, who arrived in Kakuma with no formal business experience, but who today employs 26 people in her tailoring shop. And Mesfen, who runs the largest motorcycle dealership in the county and who covers the school fees for 700 kids through his own philanthropy. These are just two examples among thousands in Kakuma proving what's possible when investment unlocks human potential. A model that's sustainable and scalable for displaced people around the world. A model more important today than ever before. Because tomorrow we could wake up to the headline that reads, all assistance for displaced people stopped. I A once unthinkable scenario is now plausible. We have to prepare for a world in which the 125 million forcibly displaced people today have to fend for themselves. And we're witnessing accelerated crises. With wars in Europe and the Middle east forcing even more people to flee. And climate change is triggering floods in Brazil, fires in California, unlivable conditions across continents. As these trends continue, one in ten of us will be displaced in 25 years. One in ten, each of us is more likely to be displaced than ever before. The time for incremental change is over. We must do things differently. And yes, humanitarian aid remains essential in emergencies and for the most vulnerable. But the widespread system as it is today was never designed with dignity or to be a long term solution. Bold action requires us to change our perspectives, partners and policies. For too long, displaced people have been framed as burdens. And that thinking, that narrative, has led to missed opportunities. Over the last decade, I've worked alongside 100,000 businesses in five African countries, mostly in displacement affected communities. And these entrepreneurs. They have the traits that case studies and business schools celebrate. They are resilient and resourceful. They innovate and adapt. They deeply understand their markets. They're the very leaders and problem solvers investors around the world seek, but are rarely seen as investment worthy. In Homoko, the organization that I co founded and lead, is Africa's largest lender to refugee entrepreneurs, unlocking accessible capital in communities too often overlooked by traditional finance. We've dispersed 25,000 loans de risked by business advising and skills development. And with a 97% repayment rate, we're demonstrating that displaced entrepreneurs are just as investable as any other. And we're part of a growing private sector movement. In Kakuma, where already three commercial banks operate, the International Finance Corporation has committed $20 million in investments in risk sharing facilities, and Kenyan entrepreneurs are scaling hotels and supermarkets. And let's be clear, I don't think we should double down on the same unchecked capitalist practices that have led to today's global disparities. Capitalism and markets are flawed, but when we design for inclusion, they can be forces for change. When Uganda allowed refugees to work, the country's GDP increased by nearly a billion dollars. Ethiopia reformed its policies, and now thousands of refugees contribute in key sectors like agriculture and manufacturing. When Rwanda, the country where I live, included refugees in its national ID program, they gained access to healthcare, financial services and are growing an economy. Here's the these examples these African solutions are what the rest of the world needs to learn from. These are solutions rooted in a shared experience in hospitality, in humanity. A few weeks ago, I had dinner with my colleague Kuku. He was a refugee in Kakuma for nearly 20 years and the first person we hired there. He advised a thousand businesses in Kakuma's vibrant markets, equipping entrepreneurs with financial skills, growth strategies and access to capital. But our dinner wasn't in Kakuma. It was in South Sudan, his home country. Like many displaced people, Cuckoo's Path has been anything but linear. He's had to navigate complex systems and is one of the few people able to return home. Leveraging his experience, he's part of our founding team in South Sudan, an expansion made possible by the audacious generosity of members of this community. He's still advising businesses owned by people who've had to flee war and the South Sudanese diaspora, like him returning home to rebuild their nation. They all just want to contribute at their full potential. The data is clear. The entrepreneurs are ready. So let's do what we know works. Investors open your portfolios to businesses owned by displaced people. Philanthropists prioritize funding economic inclusion, especially if you have a climate focus. As climate driven displacement accelerates, entrepreneurs recognize this 125 million and growing population as viable customers. Academics and journalists shift the narrative. Highlight the resilience and opportunities in these communities and policymakers. Economic integration isn't charity. It drives regional peace and shared prosperity from Kakuma to California, Syria to South Sudan. One truth remains is that humanity flourishes when people have the tools to succeed and the belief that they can. The future isn't just about preventing displacement. It's about seeing that the solution to one of the world's greatest challenges lies within the people most affected. Displaced people themselves. And it's on the rest of us to recognize this and invest in them. Thank you.