Publications

This policy brief has emerged from a series of consultations with a unique combination of people: distinguished business leaders, policy experts, development advocates and, perhaps most importantly, African entrepreneurs, some working at a very local level in their communities, others in the growing
number of dynamic African businesses across the continent.

By identifying priorities and sharing examples of what is already being done, this policy brief is intended to inspire action by business leaders already engaged, or planning to invest, in Africa. It is also intended to complement the work of the many business and policy bodies that are dedicated to encouraging responsible investment in Africa.

Socio-economic development and adaptation to climate change are closely intertwined. Adaptation is increasingly described as climate resilient development or development under a hostile climate. In support of this view, this paper calculates the combined cost of meeting and at the same time “climate-proofing” the Millennium Development Goals (MDGs) for Africa. Treating adaptation and development in such an integrated way helps to better understand financing requirements analytically and, more importantly, to implement the requisite measures more effectively as part of an integrated development program. We find that the external financing needed for “climate resilient” MDGs is about forty percent higher than the external financing for the MDGs alone – around $100 billion a year for the next decade, compared with $72 billion a year for the MDGs alone. This estimate is indicative only and based on fairly cursory aggregate cost data. A clear challenge going forward is to apply the integrated adaptation and development frameworks in the form of concrete development plans at the country level.

This report builds on the part one of this research by exploring the three priority areas identified by the Business Advisory Group during their initial discussions. The report then suggests options for practical action in each of these three areas.

This report focuses on ways in which business can create social and human development value in Africa. Its immediate purpose is to stimulate discussion among members of the Business Advisory Group as to what practical actions business can take. It acknowledges that business is already engaged in a wide variety of activities that contribute directly and indirectly to achievement of the MDGs, and that rich discussions are ongoing regarding new business models that create both public and private value. At the same time, its premise is that there remains huge and untapped potential for business in these areas