Financing Mechanisms African Governments Should Pursue in Financing Sustainable Development in the Next 20 Years

  • Nomahlubi Nkume


This paper critically examines sustainable financing methods for development in Africa. It explores traditional forms of financing development that have been used in the region and how they have evolved and looks at the challenges these methods currently face in a rapidly changing global context. The paper then explores solutions to financing sustainable development in Africa that are and have been successfully used by different countries in the continent. The paper also brings to the fore the important role local government has to play in ensuring sustainable financing works effectively and efficiently for Africa. This is a sphere of government that has such a crucial role to play but is often neglected or has a weak role in some African countries. The paper finally presents its financing model and elaborates on how this model can work to achieve sustainable financing for development in Africa.

JEL Codes

F3 B1 D6 H1 


  1. Adebayo. (2004). Principles and Practices of Public Administration. Ibadan: Spectrum Books.Google Scholar
  2. Boussichas, M., & Guillaumont, P. (2015). Financing Sustainable Development: Addressing Vulnerabilities. France: FERDI.Google Scholar
  3. Chaia, A., Goland, T., & Schiff, R. (2010). Counting the World’s Unbanked. New York: McKinsey Quarterly. Google Scholar
  4. Chandy, L., & Gertz, G. (2011). Poverty in Numbers: The Changing State of Global Poverty from 2005 to 2015. Global Views Series. Washington, DC: The Brookings Institute.Google Scholar
  5. Deloitte. (2017). Global Economic Outlook. Deloitte University Press.Google Scholar
  6. Divakaran, S., & Colford, C. (2014). World Bank Group: A Promising New Resource for Development—The Potential of Sovereign Wealth Funds. Scholar
  7. Douste-Blazy, P., & Filipp, R. (2015). Innovative Financing for Development. Innovative Finance Foundation.Google Scholar
  8. Finscope. (2012). Towards a Financial Inclusion Strategy. FinMark.
  9. Frost & Sullivan. (2017). The Top Policy Trends for 2017. London: Frost & Sullivan.Google Scholar
  10. Giovannetti, G., & Lanati, M. (2015). Financing Development in Risky Context. France: FERDI. Google Scholar
  11. Gittell, R., Magnusson, M., & Merenda, M. (2012). Chapter 3. The Sustainable Business Case Book. Washington, DC: The Saylor Foundation.Google Scholar
  12. Helling, L., Serrano, R., & Warren, D. (2005). Linking Community Empowerment, Decentralized Governance, and Public Service Provision Through a Local Development Framework. Washington, DC: Social Protection World Bank.Google Scholar
  13. IMF. (2017). World Economic Outlook Update. Washington, DC: IMF.Google Scholar
  14. Lysy, F. (2013). An Economic Sense. Retrieved from
  15. Moyo, D. (2009). Dead Aid. Penguin.Google Scholar
  16. OECD. (2017). Economic Outlook Report.Google Scholar
  17. SDSN. (2015). Key Elements of a Successful Addis Ababa Accord on Financing for Sustainable Development. UN.Google Scholar
  18. Sibanda, M. M. M. (2012). Monitoring Customer-Focused Quality Service Delivery: Delivery in Local Government. ISDMN.Google Scholar
  19. Srinivas, H. (2015). Policy Analysis Series. Retrieved from
  20. Sy, A. (2015). 2015: A Crucial Year for Financing Development in Africa. Washington, DC: Brookings Institute.Google Scholar
  21. UCLG. (2007). Governance, Advocacy & Decentralized Development Programme for Africa. Morocco: UCLG.Google Scholar
  22. UN. (2014). Sustainable Development Financing. New York: United Nations.Google Scholar
  23. UNDP. (2015). MDG Progress Report 2015. UNDP.Google Scholar
  24. WC Development. (1987, June 16). IISD. Retrieved from
  25. World Bank. (2017a, June). Global Economic Prospects: A Fragile Recovery. Washington, DC: World Bank. License: CC BY 3.0 IGO.
  26. World Bank. (2017b, June). Global Economic Prospects: A Fragile Recovery. Washington, DC: World Bank. © World Bank. License: CC BY 3.0 IGO.

Copyright information

© The Author(s) 2018

Authors and Affiliations

  • Nomahlubi Nkume
    • 1
  1. 1.School of GovernanceUniversity of the WitwatersrandJohannesburgSouth Africa

Personalised recommendations