Global risks such as food insecurity, limited energy access, climate change and protracted crises are accelerating—and increasingly reinforcing one another. Today, around 2 billion people live in contexts affected by fragility, conflict or high vulnerability, where these overlapping pressures are felt most acutely. At the same time, geopolitical fragmentation and economic uncertainty are making coordinated responses more difficult.

Humanitarian assistance remains essential in responding to acute crises. But on its own, it cannot deliver lasting resilience or inclusive growth. Addressing the root causes of vulnerability requires complementing short-term relief with sustainable, market-based solutions that enable people and communities to build stable livelihoods over time.

To enable the private sector to play a bigger role in addressing fragility and social inequalities, it is imperative to find new models that foster increased and more effective international cooperation across all relevant stakeholder groups. Frontier markets offer concrete opportunities to create deep, lasting impact while tapping into strong growth potential and an emerging consumer class. However, they also face persistent challenges and structural market failures.

Pioneers are already demonstrating ways to successfully operate and scale in the world’s most underinvested markets, paving the way for more market participants to follow suit.

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