How Displaced People Are Driving Local Economies | Julienne Oyler | TED

Overview

This talk explores how displaced people, often seen as burdens, are driving local economies and creating thriving communities. Julienne Oyler shares transformative examples from Kakuma refugee camp in Kenya and beyond, highlighting the power of investing in refugee entrepreneurs to unlock human potential and foster sustainable development.

Notable Quotes

- 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.

- For too long, displaced people have been framed as burdens, and that thinking has led to missed opportunities.

- When Uganda allowed refugees to work, the country's GDP increased by nearly a billion dollars.

🌍 The Transformation of Kakuma Refugee Camp

- Kakuma, once an isolated and resource-scarce refugee camp, has evolved into a bustling economic hub with over 10,000 businesses and $100 million in annual market consumption.

- The camp's transformation is attributed to the resilience of displaced people, support from private-sector investors, and advocacy by governments and UN agencies.

- Examples of entrepreneurial success include Adela, who employs 26 people in her tailoring shop, and Mesfin, who runs a motorcycle dealership and funds education for 700 children.

💡 Rethinking Displacement: From Burden to Opportunity

- Displaced people are often mischaracterized as burdens, leading to missed opportunities for economic growth and innovation.

- Refugee entrepreneurs exhibit traits celebrated in business schools: resilience, resourcefulness, and market insight.

- Julienne Oyler emphasizes that displaced people are not just recipients of aid but leaders and problem-solvers who can drive regional prosperity.

📈 The Role of Investment in Refugee Economies

- Inkomoko, Africa's largest lender to refugee entrepreneurs, has disbursed 25,000 loans with a 97% repayment rate, proving the investability of displaced entrepreneurs.

- Kakuma now hosts three commercial banks, and the International Finance Corporation has committed $20 million to risk-sharing facilities.

- Policy reforms in countries like Uganda, Ethiopia, and Rwanda have demonstrated that integrating refugees into the economy boosts GDP and fosters shared prosperity.

🌱 Designing Inclusive Economic Systems

- While acknowledging the flaws of capitalism, Julienne Oyler advocates for inclusive market designs that empower marginalized communities.

- Examples of inclusive policies include Uganda allowing refugees to work, Ethiopia integrating refugees into key sectors, and Rwanda providing refugees with access to national ID programs and financial services.

- These African solutions offer scalable models for addressing global displacement challenges.

🔑 Call to Action for Stakeholders

- Investors: Include refugee-owned businesses in portfolios.

- Philanthropists: Fund economic inclusion initiatives, especially in the context of climate-driven displacement.

- Policymakers: Recognize economic integration as a driver of peace and prosperity, not charity.

- Academics and journalists: Shift the narrative to highlight the resilience and contributions of displaced communities.