Financing Sustainable Development in Africa

Abstract

Actualizing sustainable development in Africa will require enormous economic resources. This implies that there must be a clear balance of prioritization of financing options on what works best for development in this region without further escalating other societal problems. The authors argue in the chapter that though there has been some benefit from the traditional means of financing development in Africa, some drawbacks still exist considering the rising rate of inequality and poverty head-count in the region. On this note, this present study examines financing options that have previously been advocated for in financing development in the African region (i.e., taking stock), such as development assistance and foreign investment, by considering its implication on development outcomes like poverty, inequality, and aggregate human development indicator in the region.