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.
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.
Strong fundamentals—including a youthful, urbanizing population, a rapidly growing economy and expanding middle class, and widening mobile and internet usage—will likely drive the digital transformation of the Philippine financial sector...
The global agricultural industry totals $8 trillion annually. Food and food services account for 10 percent of consumer spending worldwide, with 866 million employed in the sector in 2018. For all the economic growth reflected in these...
With approximately 12 million citizens and a nominal GDP of just under $9 billion, the Rwandan economy is small. However, through a series of well-designed and well-managed national policy reforms, the government has maintained...
Milken Institute’s Global Opportunity Index evaluates 145 countries across seven geographic regions – highlighting Latin America – to measure their potential attractiveness to foreign investors. Los Angeles – Feb. 04, 2021 – Chile ranks no...
On July 26, 2017, the Myanmar Development Institute partnered with the Milken Institute Center for Financial Markets to host a strategic roundtable in Yangon. As part of the roundtable, financial-market regulators, officials from domestic...
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.
Economists have repeatedly demonstrated a relationship between financial sector sophistication and economic growth. While developing countries have often emphasized establishing a sound banking sector, as economies grow and become more...
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.
Small and medium-sized enterprises (SMEs) play a vital role in generating economic growth in the world’s economies. In developing countries, SMEs play a significant part in creating jobs, building thriving private sectors, and diversifying...
At the August 2014 U.S.-Africa Leaders Summit, the White House brought together government officials from 50 African countries. The historic gathering in Washington focused on trade and investment in Africa, drawing scores of investors and...
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