The report is titled, “Innovation for Private Sector Development in Africa.”
It looks at current knowledge on innovations in finance, including financial technologies (fintech) and how such innovations can make a clear breakthrough in financing business sector development in Africa, ECA said in a statement on Tuesday.
The Economic Report on Africa is ECA’s main flagship publication.
Each edition appraises recent economic and social developments in Africa and delves into a key policy issue facing the continent.
The report noted the 2020 report builds on previous editions of ERA and various analytical work undertaken by ECA, as well as research by other research institutions, on financing Africa’s development.
It provides evidence-based reference material for policymakers, business sector decision-makers and other stakeholders on harnessing private sector finance for Africa’s sustainable development.
Another important consideration in the report is on how African countries can adopt industrial policy and investment policy to support digital development.
The overall aim of the report is to articulate how innovative sources of finance can be utilized to finance Africa’s business sector development, taking into account both potential innovations in the financial services sector and innovations in businesses (such as start-ups, micro-enterprises, large corporate, and private-public enterprises).
These are integral components of achieving sustainable economic development.
ERA2020 is an interdivisional collaborative work led by ECA’s Private Sector Development and Finance Division (PSDFD) and the Macroeconomic and Governance Division (MGD), with appropriate contributions from all substantive divisions.
The report is scheduled for launch during ECA’s Conference of African Ministers of Finance, Planning and Economic Development in March 2020.