Director, Global Market Development, Milken Institute International
Carole Biau is a director for Global Market Development at the Milken Institute, where she works to inform financial and economic policy across developing and emerging markets.
Growth in capital markets in the East African Community (EAC) has not kept up with the pace of economic growth.
Rwanda, Kenya, and Tanzania all posted annual growth rates above 5.4 percent over 2015-2017. This makes East Africa the fastest-growing region in sub-Saharan Africa over the period.
Nonetheless, East Africa’s lack of deep, liquid capital markets has had a dampening effect on private-sector-led growth and long-term development and all countries in the EAC recognize the need for regional integration of capital markets.
Gridlock on several necessary central components has slowed the process of integrating regional capital markets. In particular, EAC countries have been unable to maintain consensus on how to build and share infrastructure around a regional central securities depository (CSD).
This paper provides greater perspective on the implications of an impasse of an ongoing project led by the EAC Secretariat on capital markets infrastructure (CMI) with the support of the World Bank and suggests options and models that exist for moving forward while outlining relative pros and cons.
The paper also highlights essential points of debate that need to be resolved in order to prevent EAC countries from losing potential investors and resources due to further hindrances to capital market integration and development.
How should Rwanda develop its capital markets? This was the subject of a three-day roundtable discussion held in October 2015 in Rubavu, Rwanda. In framing the key challenges and opportunities that the country faces in developing capital...
In 2014 the Milken Institute convened a Financial Innovations Lab® on the topic of how to build mechanisms for financial inclusion. Unlike a number of previous Labs that have focused on easing barriers to capital for entrepreneurs and small...
Witness List The Honorable Michael S. Piwowar, Executive Vice President of MI Finance, Milken Institute Ms. Sue Washer, Former CEO, Applied Genetics Technology Corp Ms. Anna T. Pinedo, Partner and Co-Leader of Global Capital Markets, Mayer...
Executive Vice President, Milken Institute Finance
Michael S. Piwowar, PhD, is the executive vice president of Milken Institute Finance. Piwowar served as a commissioner at the US Securities and Exchange Commission (SEC) from August 15, 2013, to July 6, 2018.
In recent years, a number of stock exchanges in emerging-market and developing economies have established dedicated market segments for small and medium-sized enterprises (SMEs). The main purpose of these SME boards, as they are often...
Director, Environmental and Social Innovation team, Milken Institute Strategic Philanthropy
John Schellhase is a director on the Environmental and Social Innovation team at Milken Institute Strategic Philanthropy, where his work focuses on social impact philanthropy. As part of his work, Schellhase contributes to and manages projects related to strengthening corporate philanthropy and operating innovation competitions to advance the Sustainable Development Goals.
Los Angeles – IFC, a member of the World Bank Group, the Milken Institute and The George Washington University today launched a first-of-its-kind graduate level program for capital market practitioners in developing economies. Held over...
Despite their importance in creating private-sector jobs and diversifying economies, small to medium-sized enterprises (SMEs) often struggle to access adequate finance. This problem has only become worse since the global financial crisis...
Director, Environmental and Social Innovation team, Milken Institute Strategic Philanthropy
John Schellhase is a director on the Environmental and Social Innovation team at Milken Institute Strategic Philanthropy, where his work focuses on social impact philanthropy. As part of his work, Schellhase contributes to and manages projects related to strengthening corporate philanthropy and operating innovation competitions to advance the Sustainable Development Goals.
On February 10, 2016, at the Investing in African Mining Indaba conference in Cape Town, South Africa, the Milken Institute Center for Financial Markets held a roundtable to launch a yearlong effort toward establishing a set of principles...
October 16, 2024 (Washington, DC) — The Milken Institute and the Motsepe Foundation announced the 10 teams advancing to the Semifinalist Round of the Milken-Motsepe Prize in FinTech, with each team receiving $100,000 in funding. Responding...
Director, Communications, Milken Institute Strategic Philanthropy
Mala Persaud is the director of communications for Milken Institute Strategic Philanthropy. A former journalist, Persaud is a mission-driven communications leader with expertise in science and health communications.
Washington D.C., USA, December 19, 2023—To help strengthen local capital markets, IFC and the Milken Institute have joined forces with Georgetown University’s McDonough School of Business to provide advanced knowledge and skills training to...
Paul Guequierre is the director of strategic communications. In this role, he works to increase the profile of Milken Institute in the media, raise the visibility of issues important to the organization and its stakeholders, and expand the Institute's digital presence.
Over the last two decades, a large number of stock exchanges have established dedicated market segments for small and medium-sized enterprises (SMEs). This trend accelerated during the global financial crisis; as banks tightened credit...
Director, Environmental and Social Innovation team, Milken Institute Strategic Philanthropy
John Schellhase is a director on the Environmental and Social Innovation team at Milken Institute Strategic Philanthropy, where his work focuses on social impact philanthropy. As part of his work, Schellhase contributes to and manages projects related to strengthening corporate philanthropy and operating innovation competitions to advance the Sustainable Development Goals.
Marking 100 days of COVID-19 on the continent, the new hub tracks number of confirmed cases, testing progress, policy decisions, and the global response. Washington, D.C. – May 27, 2020 – Decisive government leadership spared many African...
Director, Environmental and Social Innovation team, Milken Institute Strategic Philanthropy
John Schellhase is a director on the Environmental and Social Innovation team at Milken Institute Strategic Philanthropy, where his work focuses on social impact philanthropy. As part of his work, Schellhase contributes to and manages projects related to strengthening corporate philanthropy and operating innovation competitions to advance the Sustainable Development Goals.
In 2015, the Rwandan Ministry of Finance and Economic Planning mandated the Capital Market Authority (CMA) of Rwanda to develop a Capital-Market Master Plan (CMMP). This plan will set the CMA’s policy strategy for the next 10 years. It will...
Director, Environmental and Social Innovation team, Milken Institute Strategic Philanthropy
John Schellhase is a director on the Environmental and Social Innovation team at Milken Institute Strategic Philanthropy, where his work focuses on social impact philanthropy. As part of his work, Schellhase contributes to and manages projects related to strengthening corporate philanthropy and operating innovation competitions to advance the Sustainable Development Goals.
