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Public- Private Partnership: Reconciling Mainstream and Islamic Finance in sub-Saharan Africa

H. Kociemska

Published 2019 in Emerging markets finance & trade

ABSTRACT

ABSTRACT Can conventional private participation in infrastructure incorporate Islamic finance requirements? Sub-Saharan Africa has substantial infrastructure-funding needs, but it is challenging to attract capital using conventional solutions, given the governing requirements of Islamic finance. In a comparative model setup, I indicate the conditions under which public–private partnerships (PPPs) are a viable organizational form of financing public services. I point out the trade-off conditions under which private and public investors reach their expectations of maximizing profit and providing social benefits simultaneously. Based on the observed socio-economic trends, conventional–Islamic PPPs can enable public services’ development with a strong emphasis on social welfare.

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