ODI Trade and Economic Development

🚨 Publication Alert! 🚨 Can #SriLanka 🇱🇰 move beyond recovery to achieve lasting economic prosperity? Our new essay series, "Sri Lanka: from debt default to transformative growth," lays out a compelling roadmap to propel the nation beyond economic stabilisation and into a future of sustainable, equitable growth. With crucial elections just around the corner, this collection features insights from leading local and international experts, offering 27 concrete policy proposals to steer the nation's trajectory from debt distress towards lasting prosperity. Key themes covered in the book include: ➡️ Building cross-party consensus ➡️ Ensuring debt sustainability ➡️ Strengthening Central Bank independence ➡️ Supporting fiscal sustainability ➡️ Undertaking economic transformation ➡️ Making growth inclusive 📰 Read the full #PressRelease: https://lnkd.in/e7xzUnwe 📚 Download the book via ODI: https://lnkd.in/eKzMqDfB Huge thanks to the book's editors, Ganeshan Wignaraja and Dirk Willem te Velde, and all the brilliant minds who contributed their expertise to this important work, including Ashanthi Abayasekara, Sirimal Abeyratne, Derrick Abudu, Chandranath Amarasekara, Ambassador Ravinatha Aryasinha, Yohannes Ayele, Yunnan Chen, Indrajit Coomaraswamy, Frederique Dahan, Shanta Devarajan, M Ganeshamoorthy, Hazel Granger, Tom Hart, Michael Iveson, Murtaza Jafferjee, Sujeetha Jegajeevan, PhD, Maximiliano Mendez Parra, P Nandalal Weerasinghe, Phyllis Papadavid, Roshan Perera, Sherillyn Raga and Gregory Smith. #EconomicTransformation #EconomicDevelopment #DebtRestructuring #StructuralReforms #EconomicRecovery

Is China's influence in Africa's #AI revolution a cause for concern? In a recent opinion piece first published in The Africa Report, Research Fellow Alberto Francesco Lemma warns of the potential risks associated with #China's growing dominance in #Africa's artificial intelligence (AI) landscape. While Chinese investments are accelerating the development of critical infrastructure, they also raise concerns about undue political influence and the potential undermining of African sovereignty. Alberto urges African nations to: 🔹 Prioritise local expertise – develop and nurture homegrown AI talent to reduce reliance on foreign expertise. 🔹 Embrace diverse collaborations – partner with a variety of international actors to avoid overdependence on any single power. 🔹 Establish robust data governance frameworks – protect African data and ensure its ethical use. 👉🏽 Read the full op-ed here: https://lnkd.in/e7EgfETj #ChinaInAfrica #ChinaAfrica #DataGovernance #ArtificialIntelligence #DigitalEconomy #Technology

Last week, the National Assembly of #Madagascar made a landmark decision by adopting the bill to ratify the African Continental Free Trade Area (AfCFTA). This is a significant step towards unlocking economic growth and regional integration, opening doors to a market of 1.2 billion consumers and new opportunities for the country's trade and social development. Through our Foreign, Commonwealth and Development Office-funded Supporting Investment and Trade in Africa (SITA) Programme, we are proud to have supported Madagascar on this transformative journey. Our contributions include: 🗣️ 𝐅𝐚𝐜𝐢𝐥𝐢𝐭𝐚𝐭𝐢𝐧𝐠 𝐢𝐧𝐟𝐨𝐫𝐦𝐞𝐝 𝐝𝐢𝐬𝐜𝐮𝐬𝐬𝐢𝐨𝐧𝐬: Earlier this year, we partnered with the British Embassy in Madagascar to host a virtual discussion exploring the potential impact of AfCFTA membership. Learn more about the insights from this event: https://lnkd.in/eNZYFBKR 📊 𝐈𝐧-𝐝𝐞𝐩𝐭𝐡 𝐫𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐚𝐧𝐝 𝐚𝐧𝐚𝐥𝐲𝐬𝐢𝐬: Our report, 𝐓𝐫𝐚𝐝𝐞 𝐢𝐦𝐩𝐚𝐜𝐭𝐬 𝐨𝐟 𝐭𝐡𝐞 𝐀𝐟𝐂𝐅𝐓𝐀 𝐢𝐧 𝐌𝐚𝐝𝐚𝐠𝐚𝐬𝐜𝐚𝐫: 𝐚𝐧 𝐚𝐧𝐚𝐥𝐲𝐬𝐢𝐬 𝐨𝐟 𝐭𝐫𝐚𝐝𝐞 𝐢𝐧 𝐠𝐨𝐨𝐝𝐬 𝐚𝐧𝐝 𝐬𝐞𝐫𝐯𝐢𝐜𝐞𝐬, co-authored by Linda Calabrese 姜琳达, Derrick Abudu, Yohannes Ayele, Alberto Francesco Lemma and Maximiliano Mendez Parra, explores how the landmark agreement could shape the island nation's economy, trade patterns and social development, revealing opportunities in tourism, digital trade, and key export sectors like fisheries, textiles, and more. The findings suggest that 𝐣𝐨𝐢𝐧𝐢𝐧𝐠 𝐭𝐡𝐞 𝐀𝐟𝐂𝐅𝐓𝐀 𝐰𝐨𝐮𝐥𝐝 𝐥𝐢𝐤𝐞𝐥𝐲 𝐢𝐧𝐜𝐫𝐞𝐚𝐬𝐞 𝐌𝐚𝐝𝐚𝐠𝐚𝐬𝐜𝐚𝐫'𝐬 𝐞𝐱𝐩𝐨𝐫𝐭𝐬 𝐚𝐧𝐝 𝐢𝐦𝐩𝐨𝐫𝐭𝐬 𝐭𝐨 𝐀𝐟𝐫𝐢𝐜𝐚 𝐛𝐲 𝐚𝐥𝐦𝐨𝐬𝐭 $𝟏𝟑.𝟓 𝐦𝐢𝐥𝐥𝐢𝐨𝐧 𝐚𝐧𝐝 $𝟒.𝟒 𝐦𝐢𝐥𝐥𝐢𝐨𝐧, 𝐫𝐞𝐬𝐩𝐞𝐜𝐭𝐢𝐯𝐞𝐥𝐲, 𝐨𝐧𝐜𝐞 𝐭𝐡𝐞 𝐚𝐠𝐫𝐞𝐞𝐦𝐞𝐧𝐭 𝐢𝐬 𝐟𝐮𝐥𝐥𝐲 𝐢𝐦𝐩𝐥𝐞𝐦𝐞𝐧𝐭𝐞𝐝. Access the full report, available in French and English, here: https://lnkd.in/eD3Dd5zv 👚 👕 𝐒𝐞𝐜𝐭𝐨𝐫-𝐬𝐩𝐞𝐜𝐢𝐟𝐢𝐜 𝐢𝐧𝐬𝐢𝐠𝐡𝐭𝐬: Senior Research Fellow, Linda Calabrese 姜琳达, provides valuable insights into how the #AfCFTA can unlock opportunities in Madagascar's textile and clothing sector, an area poised for growth with increased market access and reduced tariffs. Read the full blog post: https://lnkd.in/e-wg9ANX We are excited to see Madagascar take this decisive step and look forward to witnessing the positive impacts it will have on the country's economic and social development. Congratulations, Madagascar! 🇲🇬🎉 ℹ️ To learn more about the SITA Programme, visit our website: https://lnkd.in/eH5TjNkf #IntraAfricanTrade #OneAfricanMarket #TradeAndInvestment #EconomicDevelopment

We had an insightful session at the 2024 African Economic Conference exploring the theme, "Navigating uncertainty: strategies for building resilience in Africa". Thank you to everyone who joined us in Gaborone and online. A recording of the event will be made available on our website soon. A special thanks to our incredible speakers who shared their expertise and perspectives on building a more #ResilientAfrica: ➖ Hon. Dr. Monica Musenero Masanza delivered a powerful keynote address on the transformative potential of innovation, technology and the knowledge economy in building resilience against shocks. She explored how innovation can strengthen critical sectors and foster an environment that truly encourages transformative change. ➖ Colin Bermingham, Senior Economist at European Investment Bank (EIB), presented key findings from EIB's latest "Finance in Africa" report, providing valuable insights into the evolving financial landscape in #Africa. He discussed addressing the financing gap, harnessing fintech and promoting green finance to drive sustainable development and resilience. ➖ Dr. Pagnamam George YEKPA, PhD., Economist at ECOWAS Bank for Investment and Development (EBID) presented key findings from the "West African Development Outlook", focusing on strategies for building resilience to recurring shocks. He emphasised the importance of regional cooperation and the role of development finance institutions in supporting resilience-building initiatives. ➖ Prof. Jane Mariara, Executive Director at PEP - Partnership for Economic Policy, brought crucial attention to the disproportionate impact of global events such as the #RussiaUkraineWar on women and vulnerable populations in Africa. She stressed the need for tailored policy responses and strengthened social safety nets to protect the most vulnerable. ➡️ 📖 The report, "Impact of the Russia–Ukraine war on Africa: policy implications for navigating shocks and building resilience", explores the multifaceted effects of the conflict on African economies and livelihoods featuring eight case studies. It was compiled by researchers from ODI Global, African Economic Research Consortium (AERC), Economic Research Forum and PEP - Partnership for Economic Policy (with support from the International Development Research Centre (IDRC). Read more: https://lnkd.in/eDBJNMSV #2024AEC #AfricanEconomicConference #ResilienceBuilding #EconomicDevelopment #DevelopmentFinance

Pleased to moderate a lunch time session today on Navigating uncertainty: building resilience of African economies as part of the AfDB/UNECA/UNDP annual African Economic Conference (Gaborone, Botswana). A big thank you to great panelists including a Minister, a Prof and 2 Bankers: - Hon. Monica Musenero Masanza, Minister for Science, Technology and Innovation, in Uganda, on a proactive approach to STI in building resilience - Prof. Jane Mariara, Executive Director, PEP - Partnership for Economic Policy on how the Russian - Ukraine war affects African economies and African women and strategies for resilience building incl safety nets - Dr. Pagnamam George YEKPA, PhD., Economist, ECOWAS Bank for Investment and Development (EBID) on a three pronged approach to building resilience to shocks: agricultural production, industrialisation and human capital - Colin Bermingham, Senior Economist, European Investment Bank (EIB) on the role of the financial sector in building resilience and the remarkable growth in fintech companies on the continent. Background material is the joint African Economic Research Consortium (AERC), ERF Latest, PEP and ODI Global study supported by International Development Research Centre (IDRC) https://lnkd.in/e_RTpuDu ODI Trade and Economic Development

🔴 We're live from Gaborone! Join our special session at the African Economic Conference 2024 for a critical discussion on navigating global uncertainty and building resilience in Africa. Our expert panel, featuring Dirk Willem te Velde (Moderator), Hon. Dr Monica Musenero Masanza, Colin Bermingham, Jane Mariara and Pagnamam George YEKPA, PhD. will address: ➖ Impact of global shocks: understanding how events like the #RussiaUkraineWar affect African economies, particularly vulnerable populations and women. ➖ Finance and investment for resilience: the role of traditional banking, fintech and green finance in fostering #resilience amidst economic uncertainty. ➖ Regional cooperation: the importance of collaboration within #ECOWAS and across Africa (e.g., through the #AfCFTA) to tackle shared challenges and leverage growth opportunities. ➖ Policy recommendations: identifying actionable solutions and partnerships to secure #Africa's economic future. 🔴 WATCH LIVE: https://lnkd.in/dx9ENCmy #2024AEC #AfricanEconomicConference #ResilientAfrica #ResilienceBuilding #Botswana #EconomicDevelopment UNDP Africa | African Development Bank Group | United Nations Economic Commission for Africa

As the African Economic Conference kicks off tomorrow in Gaborone, Botswana, we invite you to join us for a critical discussion on navigating global uncertainty and building resilience in Africa. 🗓️ Sunday, 24 November 2024 ⏰ 13:00 - 14:00 (local time, Gaborone) 📍 Hotel 430, Gaborone, Botswana In light of ongoing challenges — such as the #COVID19 pandemic, the Russia–Ukraine conflict and #ClimateChange — it's essential to explore innovative strategies for sustainable growth. Our expert panel will address: ➖ Impact of global shocks: understanding how events like the #RussiaUkraineWar affect African economies, particularly vulnerable populations. ➖ Finance and investment for resilience: the role of traditional banking, fintech and green finance in fostering #resilience amidst economic uncertainty. ➖ Regional cooperation: the importance of collaboration within #ECOWAS and across Africa (e.g., through the #AfCFTA) to tackle shared challenges and leverage growth opportunities. ➖ Policy recommendations: identifying actionable solutions and partnerships to secure #Africa's economic future. Speakers: 🔹 Prof. Dirk Willem te Velde, Director of ODI Global's International Economic Development Group (Moderator) 🔹 Hon. Dr. Monica Musenero Masanza, Minister for Science, Technology and Innovation, Republic of #Uganda (Keynote Speaker) 🔹 Prof. Jane Mariara, Executive Director, PEP - Partnership for Economic Policy 🔹 Dr. Pagnamam George YEKPA, PhD., Economist, ECOWAS Bank for Investment and Development (EBID) 🔹 Colin Bermingham, Senior Economist, European Investment Bank (EIB) 🔗 Register now to attend in person or online: https://lnkd.in/dx9ENCmy #2024AEC #AfricanEconomicConference #ResilientAfrica #EconomicDevelopment #Botswana #Innovation #ResilienceBuilding UNDP Africa | African Development Bank Group | United Nations Economic Commission for Africa

Business Process Outsourcing (#BPO) refers to the traditional outsourcing of back-office operations, which include customer service, accounting, and human resources management. India's BPO industry revenue reached $245 billion in fiscal year 2022-2023, and it is projected to grow to $350 billion by 2025. Can Nigeria achieve similar success? Join us for the Nigeria Digital Economy Roundtable on Business Process Outsourcing (BPO)  Date: 21st November, 2024  Time: 10:00 AM – 12:00 PM WAT  Register for Free: https://lnkd.in/d74CHcEX Prachi Agarwal ODI Global ODI Trade and Economic Development Africa International Trade & Commerce Research Foreign, Commonwealth and Development Office UNDP Nigeria NSIA: Nigeria Sovereign Investment Authority Nigeria Diaspora Investment Summit Nigeria-Canada Trade & Investment Group Green Energy Investment Nigeria Outsource to Nigeria Initiative (OTNI) Association of Outsourcing Professionals of Nigeria Outsource to Nigeria Initiative (OTNI) PECMOS NIGERIA African Development Bank Group AFRICA OUTSOURCING Human Resource and Payroll Outsourcing Outsource Africa

Today is Africa Industrialisation Day! 🌍🏭 Today, we celebrate the potential of #Africa’s industrial landscape and the vital role of investment in driving sustainable and inclusive growth and development across the continent. A thriving industrial sector is key to unlocking economic opportunities, creating jobs and boosting prosperity for all. #Investment is the lifeblood of industrialisation and economic growth across the continent. It fuels innovation, expands production capacity and facilitates access to new technologies and markets. The African Continental Free Trade Area (AfCFTA) presents a unique opportunity to attract both foreign and domestic investment, fostering regional value chains and an environment where industries can thrive. At ODI Global, we've been deeply engaged in research exploring the transformative potential of the #AfCFTA for various sectors. Here are some of our reports and insights: ➡️ 𝐀𝐟𝐂𝐅𝐓𝐀'𝐬 𝐢𝐦𝐩𝐚𝐜𝐭 𝐨𝐧 𝐅𝐃𝐈: Explore data-driven insights on foreign direct investment and its role in implementing the AfCFTA Investment Protocol: https://lnkd.in/eek2sawK ➡️ 𝐒𝐭𝐫𝐞𝐧𝐠𝐭𝐡𝐞𝐧𝐢𝐧𝐠 𝐩𝐡𝐚𝐫𝐦𝐚𝐜𝐞𝐮𝐭𝐢𝐜𝐚𝐥 𝐚𝐧𝐝 𝐯𝐚𝐜𝐜𝐢𝐧𝐞 𝐩𝐫𝐨𝐜𝐮𝐫𝐞𝐦𝐞𝐧𝐭: Discover how the AfCFTA can enhance regional cooperation and access to essential medicines and vaccines: https://lnkd.in/eyuptrGD ➡️ 𝐃𝐫𝐢𝐯𝐢𝐧𝐠 𝐠𝐫𝐨𝐰𝐭𝐡 𝐢𝐧 𝐭𝐡𝐞 𝐚𝐮𝐭𝐨𝐦𝐨𝐭𝐢𝐯𝐞 𝐬𝐞𝐜𝐭𝐨𝐫: Examine the opportunities and challenges for the automotive value chain under the AfCFTA: https://lnkd.in/e-hMGbEY. Here is a case study providing a detailed look at the 𝐍𝐢𝐠𝐞𝐫𝐢𝐚𝐧 𝐚𝐮𝐭𝐨𝐦𝐨𝐭𝐢𝐯𝐞 𝐢𝐧𝐝𝐮𝐬𝐭𝐫𝐲 and how it can benefit from the AfCFTA: https://lnkd.in/eUj4VvUv #AfricaIndustrializationDay #TradeandInvestment #Industrialisation #EconomicGrowth #EconomicTransformation #Nigeria #IndustrialDevelopment #OneAfricanMarket

Thank you to everyone who joined us, in-person and online, for the "Transforming Sri Lanka’s economy: a post-elections roadmap" event. We had insightful discussions led by our expert panellists, who shared valuable perspectives on #SriLanka's economic future during this critical time. 🔸 Dirk Willem te Velde, Director of ODI Trade and Economic Development, opened the event, emphasising the significance of this pivotal moment for Sri Lanka and setting the stage for a vital discussion. 🔸 Ganeshan Wignaraja, Visiting Senior Fellow at ODI Global, shared key findings from the essay series, 𝐒𝐫𝐢 𝐋𝐚𝐧𝐤𝐚: 𝐟𝐫𝐨𝐦 𝐝𝐞𝐛𝐭 𝐝𝐞𝐟𝐚𝐮𝐥𝐭 𝐭𝐨 𝐭𝐫𝐚𝐧𝐬𝐟𝐨𝐫𝐦𝐚𝐭𝐢𝐯𝐞 𝐠𝐫𝐨𝐰𝐭𝐡, highlighting 27 proposals aimed at fostering sustainable and equitable growth. His insights underscored the necessity of immediate and strategic reforms. 📖 You can access the publication here: https://lnkd.in/eKzMqDfB 🔸 Indrajit Coomaraswamy, former Governor of the Central Bank of Sri Lanka, addressed the key policy priorities for the new government, discussing how to effectively implement the growth proposals outlined in the essay series. He emphasised the importance of aligning policies with the current political landscape. 🔸 shea wickramasingha, Group Managing Director at CBL Group, provided a business perspective, identifying major prospects and opportunities for growth in Sri Lanka's economy. She highlighted the role of the private sector in driving recovery and innovation. 🔸 Sujeetha Jegajeevan, PhD, Director of Research at Central Bank of Sri Lanka, examined the stabilisation of the economy and ongoing growth challenges. She discussed how the insights from the essay series could help tackle these issues effectively. 🔸 Kunal Sen, Director, UNU-WIDER - United Nations University World Institute for Development Economics Research, focused on the critical elements necessary for sustaining inclusive economic transformation. His contributions stressed the need for collaborative efforts and comprehensive strategies. 🔸 Phyllis Papadavid, Senior Research Fellow at ODI Global, explored the transition from debt to transformation with reference to Greece, emphasising the importance of inclusive finance in ensuring broad-based recovery. 🔸 Gregory Smith, Lead Economist at The World Bank, discussed the major challenges Sri Lanka faces in moving from debt to transformative growth, highlighting the supportive role that international organisations, like the World Bank, can play in this process. 🔸 Ravinatha Aryasinha , Executive Director of Lakshman Kadirgamar Institute (LKI) and Former Foreign Secretary of Sri Lanka, concluded the interventions by analysing the role of trade policy in fostering growth,  📽️If you missed it, the recording is now available on our website: https://lnkd.in/e5psaNkr #SriLankaElections #Elections2024 #EconomicDevelopment #EconomicRecovery #EconomicTransformation