A new essay challenges conventional approaches to development finance by proposing that community commitment should be recognized as primary capital rather than a subsidy. CAMFED CEO Angeline Murimirwa argues in the piece that the global development finance model continues to underperform because it fails to properly value the contributions of local communities in driving sustainable change.
The essay is the second installment in a seven-part series titled “The next frontier: Reimagining financing for development and growth,” produced by Devex in partnership with the Children’s Investment Fund Foundation. According to the publication, the series aims to convene diverse global voices to redefine collaboration and unlock capital for future growth.
Redefining Capital in Development Finance
Murimirwa explains that when contributions from local communities are ignored or diminished in development finance calculations, external investments appear more significant than they actually are. However, this approach fails to capture the complete picture of how sustainable development occurs. The commitment of local communities represents the most powerful force in development and serves as a multiplier for all other resources being contributed, according to the CAMFED leader.
The current framework treats community engagement as a secondary consideration or supplementary resource to be utilized alongside external funding. In contrast, Murimirwa advocates for a fundamental shift in how development finance operates. She suggests moving away from a model of funding for projects toward one of investing with communities, thereby placing local agency at the center of development initiatives.
Community Agency as a Multiplier
The essay emphasizes that recognizing local commitment as primary capital can unlock extraordinary multipliers necessary for achieving lasting transformation in education systems. Additionally, centering the agency of those with lived experience creates more sustainable outcomes than traditional top-down funding approaches. Communities bring contextual knowledge, social networks, and long-term commitment that external actors cannot replicate.
Meanwhile, the current development finance model often measures success primarily through external inputs and donor contributions. This measurement approach systematically undervalues the time, effort, and resources that communities themselves invest in their own development. By treating community contributions as primary capital, development finance institutions could more accurately assess the true cost and impact of their investments.
Implications for Education Systems
The framework proposed by Murimirwa has particular relevance for education systems transformation across developing countries. According to the essay, sustainable change in education requires more than financial resources from external donors. It demands the active participation and leadership of communities who understand local challenges and can maintain improvements over the long term.
CAMFED’s work demonstrates this principle in action, with the organization supporting women leaders educated through its programs to reinvest in their communities. The essay illustrates this approach through examples of secondary school students in Zambia who received school supplies purchased by members of the CAMFED Association. These women leaders represent the kind of community-driven capital that Murimirwa argues should be recognized as foundational to development success.
Shifting Development Finance Frameworks
The proposal to redefine capital in development finance comes as international donors and multilateral institutions face increasing pressure to demonstrate sustainable impact. Furthermore, traditional funding models have struggled to achieve lasting results, particularly in sectors like education where community buy-in proves essential for long-term success.
The essay forms part of a broader conversation about reimagining how development finance operates in an era of constrained resources and growing global challenges. By reframing community commitment as primary rather than supplementary capital, development finance could potentially achieve greater efficiency and sustainability.
The remaining five essays in the series are expected to explore additional perspectives on transforming development finance and collaboration. The Children’s Investment Fund Foundation and Devex have not announced specific publication dates for the upcoming installments.
