Pacific Islands has often been marginalised in global affairs due to a number of factors – their remoteness, small populations, and lack of economic resources to name a few. In recent years, however, there has been a growing recognition of the importance of the Pacific with its strategic location, vulnerability to climate change, and its rich cultural heritage.
While there is a renewed engagement with the Pacific, there is still a long way to go before the Pacific is given the attention and support they deserve, and this is a challenge the international community needs to address. Impact investing is one of the ways to give them a greater chance to adapt to the challenges they face, and to give the region a greater voice in global affairs.
Investing in connectivity for the islands for one, would help to address several significant development challenges, including healthcare, gender inequality, and employment. It will build sustainable businesses and economies in the Pacific, which in turn leads to the creation of jobs and opportunities for local people, and especially women. Youth will have a greater access to education, reducing school drop-out rates and closing the gender literacy gap. This is especially important for girls from rural villages, who are often the most marginalised and underserved. Pregnant mothers, children, and the elderly would also benefit from improved access to healthcare via telehealth services with city hospitals.
My sharing at AVPN Conference 2023 this year was about my experience raising USD$300m capital for Kacific-1, our satellite covering 25 regions in Southeast Asia and the Pacific. It has shown me that the reality with emerging markets requires a focus on longer-term returns, and a larger tolerance for risk. A mismatched expectation between short-term performance would discourage investment in marginalised markets like the Pacific, who paradoxically are the ones which need the most spotlight and attention.
There are a few ways to reframe the conversation and relook at expected returns versus reality on investing in marginalised countries like the Pacific. One way is to build stronger partnerships between investors, businesses, and governments, with all stakeholders aligned on the goals of the investment and that the benefits and risks are shared. Another would be to look at return on investment in terms of long term social and environment impact, aided with clear and transparent impact measurement frameworks to help investors track and ensure that they are getting a return on their investment.
Investing in the marginalised markets is a long-term investment with high potential for social and economic returns, which improve the quality of life and create a more sustainable future for the region which in turn goes far beyond economic growth. I look forward to co-creating a more sustainable and equitable future with fellow like-minded individuals within the AVPN community.
Christian Patouraux, CEO, Kacific Broadband Satellites Ltd
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