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

Author

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  • Emmanuel Frimpong Boamah
  • Davina Osei
  • Thomas Yeboah

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.

Suggested Citation

  • Emmanuel Frimpong Boamah & Davina Osei & Thomas Yeboah, 2017. "Beyond patriotic discourse in financing the SDGs: investment-linked diaspora revenue bonds model for sub-Saharan Africa," Development in Practice, Taylor & Francis Journals, vol. 27(4), pages 555-574, May.
    • Handle: RePEc:taf:cdipxx:v:27:y:2017:i:4:p:555-574
    DOI: 10.1080/09614524.2017.1310184
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