Connect with us
Advisor
Iyinoluwa Aboyeji is a faith-driven investor and entrepreneur. He is passionate about partnering with mission-driven innovators and investors building an African future where prosperity and purpose are within everyone’s reach. He is currently the CEO and General Partner of Future Africa, an early-stage venture capital firm with a portfolio of 100 companies collectively worth over $6 billion. Before founding the Fund, he was the founding CEO of Flutterwave, a billion-dollar global payments platform connecting African businesses and individuals to the global economy. He was also the co-founder of Andela, a billion-dollar business that matches Africa’s top engineering talent to global technology companies. Andela is also backed by top global investors like Spark Capital, Google Ventures, Chan Zuckerberg Initiative, and SoftBank amongst others.
Human urbanization began around 7,000 BCE and will end in the lifetime of today’s children. The urban share of the global population will stabilize at about 75% in 2100. In
Indian cities are facing challenges due to their low-rise structures and sprawling slums that are projected to increase with the growth of urban populations in the future. To cope with this trend and take advantage of agglomeration externalities, India needs to adopt a more upward, pyramid-like approach with increased density. Although strengthening property rights has been suggested as a solution, India’s fragmented land ownership system makes this option difficult.
Previously, the Indian government used eminent domain to acquire and amalgamate land for industrial or infrastructural use, but this led to significant political opposition in the 2000s. As a result, the 2013 Land Acquisition Act was passed, which narrowed the circumstances under which land could be acquired, increased compensation payments, and extended those payments to non-owners who relied on the land for their livelihoods. While this approach has ensured political acquiescence among rural and slum dwellers, it has created a problem for private businesses that require land for property or industrial development, causing a significant time and cost burden.
This political reality, while necessary for a democratic India, may not be conducive to good economics and may lead to dysfunctional urbanization.
This blog documents the third walk and mapping activity carried out as part of the ongoing “Walking the Un-Walkable” project series.
From November 16-18th, CCI will host the first Africa’s New Cities Summit. This Summit will include what is normally expected in a typical conference (keynote speakers, panels, networking opportunities, etc.)
Each month, the CCI team selects a new book to read and discuss together. Our book club selections cover a wide range of topics that are relevant to charter cities, but they are most often related to development, urban issues, and governance. In this ongoing series, reviewers will offer summaries of the books we’ve read and share some of the highlights from our discussions.
Countries struggling with economic development face two critical challenges to overcome when trying to introduce substantive reforms— the logic of collective action and institutional sclerosis. These ideas were developed by
The Charter Cities Institute is a 501(c)3 nonprofit dedicated to empowering new cities with better governance to lift tens of millions of people out of poverty.
© 2023 Charter Cities Institute. All rights reserved.
