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, DC – August 18, 2021 – The Milken Institute today launched a course titled “How to Think Like an Emerging Markets Macro Investor,” a self-paced, on-demand class tailored to emerging markets policymakers, investors, or other...
On March 14, 2014 the Milken Institute Center for Financial Markets (CFM) hosted a working roundtable titled “Framing the Issues: Strengthening Capital Markets in Developing Countries.” The day-long event in Washington, DC convened scholars...
In Akan, the most widely spoken language in Ghana, daakye means future. It is an apt name, therefore, for the Daakye bond program, which invests in Ghana’s future leaders through securitizing future government tax flows. Established in 2020...
Milken Institute’s Global Opportunity Index evaluates 126 countries across seven geographic regions – highlighting emerging Southeast Asia – to measure their potential attractiveness to foreign investors; Sweden ranks No.1 overall in best...
Chad Clinton is the director of media relations for the Milken Institute. Hired to this role in August 2021, Clinton develops and executes strategies to amplify the Institute’s core messages by generating coverage of its pillar workstreams, experts, and events.
Growth in most emerging economies did not take as hard a hit as expected during the great recession of 2008. However, in light of more recent economic turmoil in these markets, many believe that emerging and developing economies are being...
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.
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.
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.
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.
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...
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