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

Abstract

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.