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Mobilising private finance for natural capital in Africa
The document argues that Africa faces an annual financing gap of over $100 billion to preserve its natural capital, which is critical for global climate and biodiversity goals. It proposes a 'triple bottom line' approach—combining financial returns, environmental impact, and community benefits—applied through landscape financing, restorative agriculture, and sustainable supply chains. The paper identifies green bonds, carbon credits, and impact investing as key financial mechanisms and calls for stronger regulatory frameworks, such as the adoption of Taskforce on Nature-related Financial Disclosures (TNFD) guidelines, to attract private capital and prevent 'nature-washing'.
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Document type: Briefing
‘Jobs versus Grants’: Are employment and basic income a policy trade-off?
The document challenges the belief that social grants create a 'culture of dependency' or discourage labour market participation in South Africa. By reviewing international and local evidence, it argues that cash transfers often facilitate job searches, stimulate local economies, and empower women. The authors advocate for a UBIG indexed to the upper-bound poverty line, funded through progressive taxation, as a means to eliminate poverty while supporting inclusive economic growth.
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Document type: Policy brief
Can a universal basic income contribute to breaking structural poverty in South Africa?
The research argues that a universal basic income grant (UBIG) in South Africa could move beyond immediate poverty relief to dismantle structural poverty by improving labour market participation, health, women's empowerment, and social cohesion. Drawing on local and international evidence, the authors contend that a UBIG funded through progressive taxation would stimulate local economies via multiplier effects and increase human capital. The paper emphasizes that for a UBIG to be effective, it must be unconditional, universal, and integrated with quality public services, rather than serving as a replacement for them.
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Document type: Research paper
Africa’s Nuclear Future: Increasing the Participation of Women and Youth
The policy brief examines the role of nuclear science and technology in Africa's development and the necessity of integrating women and youth into the field. It highlights that while women currently represent only 30% of experts and trainees, frameworks like Agenda 2063 and the Maputo Protocol provide a basis for their inclusion. The document identifies challenges such as a lack of sustainable human resource development and the need for updated expert databases. It recommends enhancing STEM education, increasing government commitment, and leveraging the roles of the African Commission on Nuclear Energy (AFCONE) and the International Atomic Energy Agency (IAEA) to foster a more inclusive nuclear sector.
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Document type: Policy brief
Is the AfCFTA the ‘Game Changer’ for Africa?
The AfCFTA aims to create a $3.4 billion economic bloc to foster structural transformation through agricultural upgrading, light manufacturing growth, and the deepening of regional value chains (RVCs). While initial tariff offers show potential for significant gains, the document notes that the liberalisation of services has lagged, with a new deadline of December 2023. Implementation is supported by mechanisms like the Afreximbank Adjustment Fund and the Pan-African Payment and Settlement System, though the authors highlight a critical weakness in accountability: private parties cannot access the AfCFTA's dispute settlement mechanism. The brief concludes that while the project is long-term and potentially 'oversold' to the private sector, it remains a vital instrument for overcoming the limitations of smaller regional economic communities.
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Document type: Policy brief
The Russia-Ukraine War and Addressing Africa’s Food Security Challenges
The Russia-Ukraine war has worsened systemic weaknesses in the international food system, disproportionately affecting African countries due to their high reliance on food, fuel, and fertiliser imports from Russia and Ukraine. This vulnerability is compounded by climate-induced weather events, internal conflicts, and structural infrastructure deficits. The report highlights that food price shocks have already triggered protests in countries like Uganda, Malawi, Senegal, and Sudan. To mitigate these risks, the authors recommend that private companies support the diversification of food sources and local agribusiness capacity, while African governments should reduce regulation and leverage regional integration platforms like the AfCFTA.
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Document type: Report
22-08-17-cmir.v2_ak_compressed-6e9541dae869b3ab.pdf
FSD Africa's Capital Markets team works to address financing gaps in Africa by developing enabling policies, market infrastructure, and innovative financial products. The report highlights the mobilization of approximately GBP 320 million through bond issuances, including pioneering green and gender bonds in countries like Nigeria, Kenya, and Morocco. It details the Africa Regulatory Support Programme (ARSP) and the African Local Currency Bond Fund (ALCB Fund) as key mechanisms for reducing currency risk and increasing private sector investment. Moving forward, FSD Africa is concentrating its efforts on five priority countries—Ethiopia, Ghana, Kenya, Morocco, and Nigeria—with a strong emphasis on green capital markets and natural capital finance.
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Document type: Report
Insights for food systems transformation from southern Africa
The report highlights the urgent need for food systems transformation in southern Africa due to climate change, population growth, and high rates of malnutrition. It reviews key 2021 global and regional events—including the UN Food Systems Summit, the AGRF Summit, and COP26—to identify national entry points for action across southern African states, emphasizing the water-energy-food (WEF) nexus and the role of youth and ecosystem restoration.
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Document type: Report
Insights for food systems transformation from southern Africa
The report outlines a framework for food systems transformation in southern Africa, emphasizing the need for a water-energy-food (WEF) nexus approach, the integration of indigenous knowledge, and the empowerment of women and youth. It identifies key leverage points for change, such as governance reform, sustainable rural livelihoods, and the adoption of climate-smart agriculture. The document recommends shifting from siloed sectoral approaches to systemic, multi-sectoral governance and suggests using 'futuring' methodologies to identify 'Seeds of Change'—small-scale innovative projects that can be upscaled to build regional resilience.
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Document type: Report
The Landscape of Financing Strategies for Adaptation in Developing Countries
The report reviews 24 financing strategies from developing countries, categorizing them into discrete adaptation strategies and general climate action strategies. It finds that while these documents help communicate priorities and attract international grants, there is a significant gap in strategic analysis regarding how to leverage public finance to attract private investment. The report emphasizes the need for stronger engagement from ministries of finance and planning, as well as improved country-level tracking of climate finance to measure the actual impact of these strategies.
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Document type: Report
Práticas laborais chinesas em seis países da África Austral
The report identifies widespread labor rights violations by Chinese companies in Southern Africa, including low wages, unsafe working conditions, and unfair dismissals. It highlights a systemic failure of national governments to enforce labor laws, often exacerbated by corruption and political ties between Chinese investors and local elites. While some positive impacts on employment and infrastructure are noted, the study emphasizes the precarious nature of these jobs and the marginalization of trade unions.
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Document type: Report
Korea and Africa: Partnerships on Climate and Energy
The document explores the evolving relationship between Korea and Africa, focusing on how Korea's carbon-neutrality goals and technological expertise can support Africa's climate resilience. It identifies key areas for partnership, including renewable energy, green minerals for batteries, smart city development, and climate-resilient agriculture, while emphasizing the need for these initiatives to be African-led and aligned with the AU's strategic framework.
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Document type: Research paper
Country Ownership of Climate Finance: Kenya and Zambia
The study compares climate finance coordination in Kenya and Zambia, finding that political factors—including power dynamics, vested interests, and framings of finance—significantly hinder coordination efforts. The authors argue that achieving genuine country ownership requires a critical examination of these internal political struggles.
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Document type: Research paper
Africa’s geostrategic alignments in response to the Ukraine war
The document analyzes the varied diplomatic positions of African nations regarding the Ukraine war, noting a split between those condemning Russia and those maintaining neutrality to preserve bilateral ties. It argues that African states should move from being passive bystanders to proactive actors by mediating peace, filling resource gaps created by sanctions, diversifying commodity imports, and strengthening pan-African unity.
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Document type: Research paper
Enhancing the transparency and accountability of climate reporting under the Paris Agreement
The document examines the operationalisation of the Paris Agreement's Enhanced Transparency Framework (ETF), which mandates that all countries submit biennial transparency reports by December 31, 2024. It highlights the shift toward standardised reporting and review processes to increase accountability for Nationally Determined Contributions (NDCs). While the ETF aims to build trust and facilitate ambitious climate commitments, the author notes that developing countries face significant barriers in technical capacity, particularly in greenhouse gas accounting and measurement, reporting, and verification (MRV). The brief advocates for integrating climate tracking into national budgets, enhancing stakeholder engagement, and increasing capacity building for adaptation and loss and damage reporting, particularly in Africa.
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Document type: Policy brief
The Rebirth: Tunisia’s potential development pathways to 2040
The annex outlines the technical specifications for forecasting Tunisia's development to 2040. It details data replacements from sources like UNICEF and the National Statistics Bureau, and specifies interventions across four scenarios: a common baseline, 'Going for Growth', 'Leapfrogging', and 'Sustainability & Equality'. These interventions target economic freedom, corruption, education quality, ICT infrastructure, renewable energy, and carbon taxation.
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Document type: Report
Rural Investment: BNDES Credit Contributes to Agricultural Intensification
The study finds that BNDES credit for agricultural equipment increases land productivity and stimulates crop production without increasing deforestation. The effects are most pronounced in labor-intensive municipalities and when financing is directed toward labor-saving equipment, such as tractors and harvesters, which often leads to the replacement of pasture areas with more productive cropland.
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Document type: Policy brief
LINKAGES BETWEEN ILLICIT FINANCIAL FLOWS AND SOCIAL PROTECTION
The report examines how illicit financial flows (IFFs) deprive East and Southern African governments of resources needed for social protection. Focusing on Uganda, Tanzania, Zambia, and Zimbabwe, it compares the scale of financial losses from tax evasion, corruption, and trade misinvoicing against the funding gaps in social assistance programmes. The study concludes that recovering these lost funds could significantly increase the coverage and adequacy of social protection floors for vulnerable groups.
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Document type: Report
Leveraging the AfCFTA Under a Unified Industrial Policy for Africa
The author contends that Africa's industrialization is hindered by a fragmented policy landscape where countries are often subject to three or more overlapping industrial strategies. This coordination failure, combined with poor infrastructure and low innovation capacity, has led to 'de-industrialisation' in Sub-Saharan Africa, where the industrial sector's contribution to GDP has declined relative to the primary sector. To leverage the AfCFTA, the paper proposes a unified industrial policy focusing on pooled resources for infrastructure, regional product specialization, SME growth, clean energy transitions, and the development of indigenous technologies.
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Document type: Policy brief
Blue Metal Blues: Cobalt, the Democratic Republic of Congo, and China
The document analyzes China's strategic control over the Democratic Republic of Congo's (DRC) cobalt and copper supply chains, from extraction to refining. It examines the 'resources-for-infrastructure' model initiated under President Joseph Kabila and the subsequent efforts by President Félix Tshisekedi to renegotiate contracts. The author argues that while a 'US vs China' rivalry narrative exists, the dynamics are heavily influenced by internal Congolese political needs, including electoral goals and financial gain, and notes that Chinese firms are often preferred due to their flexibility in opaque business environments.
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Document type: Policy brief