Emerging markets and developing economies (EMDEs) play a crucial role in the global economy, contributing 60% of the world's GDP and driving over a third of global GDP growth. However, the potential of EMDEs is often overshadowed by the challenges they face. At FinDev Canada, we recognize the significance of showcasing the potential of these regions to mobilize private sector investment and foster sustainable and inclusive development.
As an organization dedicated to supporting development through the private sector in EMDEs, we are seeing the promising trajectory of these economies. The path is defined by a successful partnership with the private sector, to enable the potential for sustainable growth and development.
Rethinking business opportunities
To attract private sector investment, businesses must better understand the potential within EMDEs. We must rethink business opportunities in regions such as Sub-Saharan Africa, Latin America, and the Caribbean. Reports like Rethinking business opportunities in Africa by McKinsey highlight the thriving business potential within these regions by challenging misconceptions and emphasizing the true growth potential.
A creative approach to highlighting the potential of EMDEs
As part of FinDev Canada’s 5th year anniversary, the public art exhibit Highlighting Potential: Private Sector Investment in Emerging Markets took a proactive approach to challenge traditional perceptions of EMDEs. Our goal was to use our clients’ and partners’ stories to bring visibility to opportunities these regions present.
We partnered with talented local photographers to capture authentic depictions of our focus regions, Sub-Saharan Africa, Latin America & the Caribbean, and offer a glimpse into our expansion plans in the Indo-Pacific. The exhibit, now available virtually, celebrates the diverse realities of these regions, shedding light on their potential beyond the limitations they often face, and shows a retrospective of the organization’s work throughout the past five years by investing in private sector development in emerging markets.
A core element of the exhibit was the participation of our clients, who shared their inspiring success stories – celebrating the powerful impact of the private sector on climate action, market development and women's economic empowerment. They also demonstrate how private investment in emerging markets can lead to sustainable and inclusive economic growth.
We firmly believe in the transformative potential of private sector investment in EMDEs. By showcasing their possibilities through our art exhibit, we hope to inspire the private sector to actively support sustainable development and address global challenges.