Nick Allardice
Credit - Courtesy Allardice
GiveDirectly was already one of the world's largest providers of unconditional cash transfers to people living in extreme poverty when Nick Allardice, former head of the grassroots organizing platform Change.org, came on as president and CEO last year. Now, under Allardice's leadership, the nonprofit is undertaking its most ambitious projects yet—despite a $20 million hit to funding because of USAID cuts.
'We're leaning more into humanitarian work now because cash can be uniquely powerful when all the other supply chains are super disrupted,' Allardice says.
In the U.S., GiveDirectly's Rx Kids initiative is expanding to more than a dozen communities, after an initial program in Flint, Mich. showed promising improvements to participants' health and financial security. The program provides poor expectant mothers with $1,500 during pregnancy and $500 a month for up to a year after the child's birth. Other new initiatives include a pilot program in Nigeria testing anticipatory aid, sending money to people before a flood hits; another uses phone location data in the Democratic Republic of Congo to spot and send cash payments to people fleeing violence—cutting a typical 130-day wait for relief to five days.
Allardice's biggest bet: a program in Malawi, one of the world's poorest countries, to test 'whether it's possible to catalyze an entire country out of poverty simultaneously.' To find out, GiveDirectly will send 200,000 adults in one region $550 each over the next 18 months in its largest-ever cash program. 'The world needs more moonshots,' Allardice says.
Write to Kerri Anne Renzulli at kerri.renzulli@moneymail.com.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Fox News
a day ago
- Fox News
Four plead guilty in massive bribery scheme at agency Democrats fought to protect from DOGE
The United States Agency for International Development (USAID), an agency essentially dismantled by DOGE amid complaints from Democrats that cutting waste would harm impoverished countries, is at the center of a massive bribery scandal. A federal contracting officer and three businessmen have pleaded guilty in a scheme involving bribes like cash, NBA tickets, and a country club wedding in a scandal the Department of Justice (DOJ) said was part of a $550 million scam, Fox News Chief Washington Correspondent Mike Emanuel reported Friday. Roderick Watson, 57, worked as a USAID contracting officer, according to a DOJ press release, and pleaded guilty to "bribery of a public official." According to the DOJ, Watson sold his influence starting in 2013, with contractors Walter Barnes, owner of Vistant, and Darryl Britt, owner of Apprio, funneling payoffs through subcontractor Paul Young to hide their tracks. "During the scheme, Britt and Barnes paid bribes to Watson that were often concealed by passing them through Young, who was the president of another subcontractor to Apprio and Vistant," the press release explained. "Britt and Barnes also regularly funneled bribes to Watson, including cash, laptops, thousands of dollars in tickets to a suite at an NBA game, a country club wedding, downpayments on two residential mortgages, cellular phones, and jobs for relatives. The bribes were also often concealed through electronic bank transfers falsely listing Watson on payroll, incorporated shell companies, and false invoices. Watson is alleged to have received bribes valued at more than approximately $1 million as part of the scheme." Vistant was awarded in November 2023, as part of a joint venture, a contract worth up to $800 million with one of the focuses of that contract being to address "a variety of issues affecting the root causes of irregular migration from Central America to the United States," an issue that President Joe Biden tasked then-Vice President Kamala Harris with during his presidency. Several days later, that contract was canceled after USAID published a notice that said Vistant was excluded from government contracting due to "evidence of conduct of a lack of business honesty or integrity." The joint venture then successfully sued the government over being put on that exclusion list and was re-awarded the contract and given a $10,000 payment in August 2024. "Corruption in government programs will not be tolerated. Watson abused his position of trust for personal gain while federal contractors engaged in a pay-to-play scheme," Acting Assistant Inspector General for Investigations Sean Bottary of the USAID Office of Inspector General (USAID-OIG) said in the press release. "USAID-OIG is firmly committed to rooting out fraud and corruption within U.S. foreign assistance programs. Today's announcement underscores our unwavering focus on exposing criminal activity, including bribery schemes by those entrusted to faithfully award government contracts. We appreciate our longstanding partnership with the Department of Justice in holding accountable those who defraud American taxpayers." USAID was one of the public faces and most drastic examples of DOGE's efforts to cut waste, fraud, and abuse in government, and the effort resulted in the agency's programs being cut by 83%, while the programs deemed vital were moved to the State Department. USAID's website went dark, and employees were barred from entering its headquarters on Feb. 3, while others had their work put on hold. The Trump administration then announced that all USAID direct-hire personnel would be put on administrative leave. The agency came under fire for many funding choices, including allocating $1.5 million for a program that sought to "advance diversity, equity and inclusion in Serbia's workplaces and business communities" and a $70,000 program for a "DEI musical" in Ireland. During DOGE's sweep, it was revealed that U.S. dollars were ending up in the hands of terror-linked groups, such as funds reportedly providing "full funding" for al-Qaeda terrorist Anwar al-Awlaki to attend college in Colorado, Fox News Digital previously reported. As DOGE was dismantling USAID, many Democrats and media outlets blasted the cuts, claiming they would harm impoverished recipients of aid across the globe and some, including U2 frontman Bono, who said the cuts would lead to over 300,000 deaths. Several House and Senate Democrats protested outside of USAID's headquarters in early February, expressing outrage over the layoffs and cuts, The Hill reported. "Anybody who cares about good and effective government should be concerned about the waste, fraud, and abuse in government agencies, including USAID," Matthew R. Galeotti, head of the Justice Department's Criminal Division, said in the DOJ's press release.
American Military News
3 days ago
- American Military News
$550 million bribery scheme involving USAID official exposed
A former contracting officer for the U.S. Agency for International Development (USAID) and three business leaders recently pleaded guilty to a $550 million bribery scheme. In a Thursday press release, the U.S. Department of Justice announced, 'Four men, including a government contracting officer for the United States Agency for International Development (USAID) and three owners and presidents of companies, have pleaded guilty for their roles in a decade-long bribery scheme involving at least 14 prime contracts worth over $550 million in U.S. taxpayer dollars.' The Justice Department confirmed that 57-year-old Roderick Watson, who worked as a contracting officer for USAID, pleaded guilty to bribery of a public official; 46-year-old Walter Barnes, who was the president of PM Consulting Group LCC, which conducted business as Vistant, pleaded guilty to securities fraud and conspiracy to commit bribery of a public official; 64-year-old Darryl Britt, who was the president of Apprio, pleaded guilty to conspiracy to commit bribery of a public official; and 62-year-old Paul Young, who was the president of a subcontracting company used by Vistant and Apprio, pleaded guilty to conspiracy to commit bribery of a public official. According to the Justice Department, Watson began receiving bribes from Britt in 2013 and used his influence as a USAID contracting officer to award government contracts to Britt's business while the business was part of a federal business development program. After Britt's business graduated from the federal program, a business owned by Barnes that was previously a subcontractor to Britt's business on one of the contracts Watson helped secure, took its place and became a top contractor with USAID from 2018 to 2022. READ MORE: Fmr. Navy second-in-command convicted of bribery The Justice Department revealed that Watson received roughly $1 million worth in bribes, 'including cash, laptops, thousands of dollars in tickets to a suite at an NBA game, a country club wedding, downpayments on two residential mortgages, cellular phones, and jobs for relatives.' The Justice Department explained that the bribes were given to Watson in return for 'manipulating the procurement process at USAID' to award contracts to the companies run by Barnes and Britt. According to Thursday's press release, the two company leaders paid Watson's bribes through Young. 'The defendants sought to enrich themselves at the expense of American taxpayers through bribery and fraud,' Matthew R. Galeotti, the head of the Justice Department's Criminal Division, said. 'Their scheme violated the public trust by corrupting the federal government's procurement process.' 'Anybody who cares about good and effective government should be concerned about the waste, fraud, and abuse in government agencies, including USAID,' Galeotti added. 'Those who engage in bribery schemes to exploit the U.S. Small Business Administration's vital economic programs for small businesses — whether individuals or corporations acting through them — will be held to account.'
Yahoo
3 days ago
- Yahoo
Zacks Investment Ideas feature highlights: Tesla, Li Auto, Nio, BYD and Alphabet
Chicago, IL – June 17, 2025– Today, Zacks Investment Ideas feature highlights Tesla TSLA, Li Auto LI, Nio NIO, BYD BYDDY and Alphabet GOOGL. Over the past year, EV-pioneer Tesla has got the proverbial "kitchen sink" thrown at it with a plethora of reputational issues and controversies, soft car sales, tariff impacts, and missed deadlines. Some of the problems that the Zacks Rank #5 (Strong Sell) stock has faced include: Elon Musk Reputation: Earlier this year, Tesla faced boycotts and vandalism from the left after CEO Elon Musk became embroiled in political backlash due to his political work under the "Department of Government Efficiency" (DOGE) cut government programs like US AID. More recently, Musk faced backlash from the right after getting into a social media spat with President Trump over the "Big Beautiful Bill." (Musk and Trump have since made amends). Sales Slump: Tesla sales have fallen across key markets like Europe and China over the past few years while profit margins have declined. Meanwhile, tariff uncertainty has disrupted the Tesla supply chain, threatening to impact gross margins further negatively. Intense Competition: Tesla faces competition from subsidized Chinese competitors like Li Auto, Nio and BYD, among others. Despite the many challenges Elon Musk and Tesla have had to overcome, the TSLA shares are up about 75% over the past twelve months, trouncing the S&P 500's 9.3% gains. The reason for the robust performance is that investors are beginning to discount Tesla's long-awaited and delayed Tesla Robotaxi. But are investors suffering from "hopium," or are they justified in doing so? Earlier this month, the first driverless Tesla Model Y Robotaxi was spotted in Austin, Texas, the home of CEO Elon Musk. Officially, Musk and the team plan to conduct a limited launch "tentatively" on June 22. Alphabet's Waymo Robotaxi service has the first-mover advantage over Tesla. Waymo has already launched its geofenced service across several US cities, including Los Angeles, San Francisco, Phoenix, and Austin. With Waymo conducting approximately a quarter million paid Robotaxi rides per week, it's easy for investors to get lulled into the notion that Waymo will dominate the Robotaxi market. However, Tesla has three distinct advantages, including: Robotaxi Cost: Unlike Tesla, which mostly relies on AI and cameras for its "Full Self-Driving" capabilities, Waymo relies on expensive lidar technology. In fact, Tesla's autonomous vehicle cost is ~85% lower than Waymo's, according to a Bloomberg Intelligence Analysis. Robotaxi Scalability: Waymo aims to manufacture 2,000 Waymo vehicles over the next year. In contrast, Tesla currently produces roughly one million Model Y, FSD-capable vehicles per year. In a recent video, internet personality Farzad Mesbahi explained that "Tesla can manufacture the same amount of Robotaxis that Waymos is looking to manufacture over the next year in about five hours." Autonomous Technology: Bloomberg technologyhost Ed Ludlow says, "Tesla's Full-Self Driving (FSD) technology, while classified as Level 2 like most other vehicles offering autonomous features, could be closer to reaching full autonomy than peers. Tesla's manufacturing capability is a core differentiator vs Waymo, who faces vehicle production constraints. No other incumbent US or European carmaker offers full self-driving capabilities on city roads." In conclusion, while Waymo is off to an early start in the Robotaxi wars, Tesla has significant advantages including cost, scalability, and autonomous technology. The Robotaxi war is still in the first inning and when I think of Tesla I can't help but be reminded of the quote, "Slowly, then all at once." Why Haven't You Looked at Zacks' Top Stocks? Since 2000, our top stock-picking strategies have blown away the S&P's +7.7% average gain per year. Amazingly, they soared with average gains of +48.4%, +50.2% and +56.7% per year. Today you can access their live picks without cost or obligation. See Stocks Free >> Media Contact Zacks Investment Research 800-767-3771 ext. 9339 support@ Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit information about the performance numbers displayed in this press release. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Tesla, Inc. (TSLA) : Free Stock Analysis Report Alphabet Inc. (GOOGL) : Free Stock Analysis Report NIO Inc. (NIO) : Free Stock Analysis Report Byd Co., Ltd. (BYDDY) : Free Stock Analysis Report Li Auto Inc. Sponsored ADR (LI) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
