News

Day 2 of the AERC Summit featured a session of book launches chaired by Martin Oleche of the University of Nairobi’s Department of Economics and Development Studies. 

The first book launched was “The Domestic Savings Shortfall in Sub-Saharan Africa” edited by Rose Ngugi and Kunal Sen and published by Oxford University Press.

The Domestic Savings Shortfall in Sub-Saharan Africa aims to shed light on one of the most persistent macroeconomic challenges facing the region, which are low rates of domestic savings and their implications for financing investment and development. The book analyses the key drivers behind savings behaviour across sub‑Saharan Africa. 

The analysis in the book confirms that several long‑standing structural obstacles help explain the savings gap. These include limited access to financial services, underdeveloped capital markets, weak pension coverage, macroeconomic instability and demographic challenges. The book also identifies opportunities such as financial deepening, digital finance (fintech), improved institutional quality, stable growth, income generation and expanded pension and long‑term savings mechanisms. These are presented as realistic paths toward boosting domestic savings, supporting investment and reducing dependence on external borrowing. 

The second book that was launched, “The Routledge Handbook of Infrastructure Finance” Edited By Joshua Yindenaba Abor, John Macomber, Thankom Arun and Prof. Victor Murinde offers a comprehensive global overview of how infrastructure projects are financed, managed and regulated. The handbook addresses diverse forms of project finance, public‑private partnerships (PPPs), the roles of institutional investors, risk management, sustainability concerns and regulatory frameworks. It explores how both public and private sector actors participate in financing and overseeing infrastructure and how financing structures can be adapted to meet varying regional and economic circumstances. The book’s interdisciplinary and global approach makes it a valuable resource for academics, policymakers, practitioners and investors interested in infrastructure finance, development and sustainable growth. 

The presentations by Dr Rose Ngugi and Professor Joshua Abor, accompanied by insightful commentaries from experts such as Mr Jared Osoro of the Central Bank of Kenya and Professor Issouf Soumare of Laval University, underscored the relevance and timeliness of these works. They highlight the need for continued research, dialogue and innovation in addressing both domestic financial challenges and the broader infrastructure needs that underpin development in the modern world.

Two additional books also formed part of the discussions during the session.

1. The Palgrave Handbook of Development Finance. Edited by George Kararach, Emmanuel Pinto Moreira and Victor Murinde
2. Liberating Economics from Ideologies and Dystopia: Towards Proper Debate. By George Kararach