Promoting Macro-Economic Policy and Regulatory Reform to Create a Business Enabling Environment that Encourages Investment
Africa is the second region in the world in terms of its level of economic growth and the continent has in the long term the potential to become a major global economic force if the necessary framework considerations are in place.
However, the situation remains detrimental in many countries in terms of poverty, unemployment and human insecurity. The transition from the informal to the formal economy is essential to achieving inclusive development and to realising decent jobs that protect labour rights. Africa RISE is a EUR 12.7 million technical assistance facility that supports the EU’s partnership with Africa on sustainable investments and jobs.
The Project/what we are doing about this challenge:
Africa RISE is a demand-driven facility, pooling expertise from academia, technical experts, practitioners and business managers from Europe and Africa to provide research, advisory services, training, long-term technical assistance, short-term consultancies and expert missions. It provides technical assistance to strengthen access to finance and implementation of dedicated financial instruments, as well as improving the investment climate for inclusive and sustainable growth, job creation and decent work. Africa RISE also aims to promote macro-economic policy and regulatory reform to create a business environment that encourages investment. Africa RISE aims to enhance the capacity of the private sector, and promote inclusive public-private dialogue (PPD), leading to better economic and social development.
This technical facility covers 25 countries in Eastern and Southern Africa.
What the project has achieved so far / intends to achieve:
Africa RISE is providing research, advisory services, trainings, long-term technical assistance, short-term consultancies and expert missions to be mobilised at short notice.
Results to be achieved include:
- Strengthening structured political and policy dialogue through the Sustainable Business for Africa Platform at country, regional and sector level – between the EU and private sector (from Europe and EA-SA-IO region).
- Strengthening the capacity of regional bodies and national administrations to design and implement legal, regulatory, administrative and institutional reforms that promote increased revenue mobilisation, trade, economic stability, regional integration, well-functioning financial markets, efficient and fair labour markets, conducive business environments, decent work, formalisation of the economy and attractive investments.
- Enhancing the capacity of people, in particular women and young entrepreneurs, to set up businesses and access financial services and the labour market through facilitating their access to vocational training, information (legal, administrative, technical), credit, incubators/business angels’ mechanisms, targeted support on tax regimes, land acquisition, quality and access to public services (including e-services), judicial redress and anti-corruption mechanisms.
- Enhancing knowledge and use of investment support financial instruments proposed by donors and development finance institutions, in particular the EU and EU Member States, to facilitate the financing of investments projects contributing to energy transition and green deal policies, circular economy, infrastructures, renewable energy, access to finance for SMEs, sustainable agriculture and agribusiness, sustainable cities and digital economy.
- Strengthening public and private sector capacities to design policies or adopt measures and strategies in the field of productivity, strategic use of public procurement and development of e-procurement, social economy, cooperatives, formalisation, competitiveness, innovation, industrialisation, resilience, business and Human rights, and Labour standards.
In November 2022, Africa RISE had 28 completed assignments and 22 ongoing ones. For more news and updates, follow Africa RISE on LinkedIn, Twitter and Facebook. You can watch our video introduction here.
