Regional exchange
IB/IGB companies, investments and policy support programs are emerging in various African countries. However neither the companies nor the policy makers are aware of innovations happening outside in Africa and particularly in Asia. In result there is little if any exchange on knowledge nor learning from practices.
The IB/IGB initiative wishes to change this by establishing a regional forum to exchange on IB/IGB in Africa. To this end it is envisioned to
- jointly populate the existing AfricaIB website and Africa IB-newsletter through contributions from multiple African countries , companies and experts. The Africa IB website and newsletter was established by Nextier (a Nigeria based consulting firm) but needs sustainable funding to scale it up and institutionalize contributions from multiple African sources.
- In addition, it is planned t create an annual regional exchange through an Africa IB-Forum, perhaps back-to-back to the regular Africa business summits. Regional development institutions.
- The regional exchange could also include funding to co-finance regional knowledge sharing events promoting IB/IGB in Africa.
In Asia , the Association of Southeast Asia Economies (ASEAN) is promoting regional IB Forum and further joint IB work since 2016. IB promotion is part of the AASEAN small and medium enterprise working group under the economic ministers. An ASEAN-wide regional IB strategy was approved by all 10 heads of ASEAN states in 2020 and an action plan endorsed in 2023. The ASEAN Forum is also doing regular exchange with African countries.
Institutionalizing regional knowledge exchange: Discussions are ongoing with development institutions with a regional focus like the African Development Bank, the European Commission, the World Bank, and private sector foundation like MasterCard Foundation or Gates Foundation may be interested to engage in promoting regional exchange ion IB/IGB promotion. The costs for promoting a regional exchange package can be modest, but impact is rather large.