B20-Business at OECD-IOE recommends boost to investment and sustainable growth in Africa

The B20, Business at OECD and the International Organisation of Employers (IOE) released a joint paper, underlining the need to mobilise further capital towards African nations by focusing on investment-focused strategies. Released in the context of the handover ceremony of the B20 recommendations to the G20, the three leading private sector organisations highlight that long-term capital, innovation, and private sector participation are critical to building resilient economies.

As illustrated by three concrete use cases from the World Bank Mission 300, the Verifiable Trade Foundation and payment innovation solutions in Nigeria, the joint paper emphasises the role of country-led funding platforms as economic multipliers to unlock economic growth, boost productivity and ensure better inclusion. Leveraging on the “Sustainable Growth Propeller” framework initiated under the B20 Presidency in 2022, this publication provides pragmatic recommendations to maximise the impact of these funding platform in generating re-investable returns and building resilient supply chains.

As outlined by Gianluca Riccio, Chair of the Business at OECD Finance Committee “true progress comes from sparking self-sustaining economic opportunities that attract long-term capital, boost private sector participation, fuel innovation, and build robust local capacity. For example, boosting firms’ working capital through early-payment platforms at national level can accelerate both employment and enduring economic growth.”

Implementing Funding Platforms: A Solution to Fragmentation

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