Beyond patriotic discourse in financing the SDGs: investment-linked diaspora revenue bonds model for sub-Saharan Africa

Emmanuel Frimpong Boamah, Davina Osei, Thomas Yeboah

Research output: Contribution to journalArticle

2 Citations (Scopus)

Abstract

Mobilising and sustaining investment flows are two interrelated challenges of development financing. Given the untapped potential of remittances and knowledge flows of sub-Saharan Africa diasporas, an investment-linked diaspora revenue bonds model is proposed to target three issues: generating diaspora investments, which will not be used to service sovereign debts; linking such investments to projects, programmes, and sectors with high economic returns; and developing hybridised institutional frameworks of local and diaspora actors to manage this investment. This model, a hybrid of sovereign and corporate bonds, draws lessons from the Sukuk market and other diaspora bonds to offer an alternative solution to the multi-dimensional nature of development financing challenges confronting SSA countries.

Original languageEnglish
Pages (from-to)555-574
Number of pages20
JournalDevelopment in Practice
Volume27
Issue number4
DOIs
Publication statusPublished - 19 May 2017
Externally publishedYes

Keywords

  • Aid
  • diaspora
  • Revenue bonds
  • SDGs
  • sovereign bonds
  • sub-Saharan Africa
  • Sukuk

ASJC Scopus subject areas

  • Geography, Planning and Development
  • Development

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