Regenerative economy: A pathway to a future-ready, sustainable Africa
Journal
Africa Journal of Management
Type
journal article
Date Issued
2023-10-17
Author(s)
Abstract
Africa is experiencing a period of rapid economic growth, booming population, and migration as biodiversity is deteriorating and the climate is warming. Together, these represent grand societal and environmental challenges. The African Union and the United Nations both promote sustainable development, in which society and nature flourish as the economy progresses. However, achieving this goal is not self-evident. We discuss the concept of regenerative economy and propose it as a path forward for the African context. We identify three levers of action evident in Africa that promote the idea of regenerative economy: clean innovation in technology and business models, leapfrogging through decentralized communication and energy systems, and leveraging African values of horizontal collectivism. We present some case examples of how this can and does work but highlight that achieving regenerative economy en masse depends on scaling up business models, effective governance structures, and capacity building in Africa. If implemented correctly, regenerative economy can offer pathways to a future-ready, sustainable Africa.
Funding(s)
This research was supported in part by funding from the Sustainable Development Solutions Network Switzerland.
Keywords
Africa
sustainability
sustainable development
regenerative economy
climate change
biodiversity loss
social justice
transition
Volume
9
Number
4
Start page
315
End page
337
Pages
22
Subject(s)
Division(s)
Contact Email Address
judith.walls@unisg.ch