The figures that matter: Redefining capital in development finance

Opinion: Community commitment is development's most potent, undervalued force. Effective financing must shift to build upon the contributions and expertise of those closest to the challenges we aim to address.

By Angeline Murimirwa // 13 March 2026

Secondary school students in Zambia celebrate the school supplies that have been purchased for them by members of the CAMFED Association of women leaders educated with CAMFED support. Photo by: CAMFED/Emma Lwando

This essay is the second of seven that Devex is producing in partnership with the Children’s Investment Fund Foundation as part of The next frontier: Reimagining financing for development and growth — a series convening diverse global voices to redefine collaboration and unlock capital for future growth.

In a new essay, CAMFED CEO Angeline Murimirwa explains that the global development finance model will continue to fall short of its potential if it treats community commitment as a subsidy to be utilized, rather than as primary capital that makes development possible.

When the contributions of local communities are ignored or diminished, the impact of external investments seems larger. But this doesn’t tell the full story. The commitment of local communities is the most powerful force in development and multiplies the collective impact of all resources being contributed. Murimirwa suggests that to achieve sustainability, we must shift the framework away from funding for projects and toward investing with communities.

Explore the essay to discover how recognizing local commitment as primary capital — and centering the agency of those with lived experience — can unlock the extraordinary multipliers needed to achieve lasting education systems transformation.

About the author

Angeline Murimirwa
Angeline Murimirwa, CEO of CAMFED, spearheads the organization’s grassroots-led model for girls’ education and women’s leadership in Africa, fostering close partnerships with rural communities and national governments. As a CAMFED graduate, she cofounded the CAMFED Association, a powerful Pan-African network of 350,000 women leaders driving change. Together, they bring the experience and expertise of underserved communities to inform policy and strategy at every level. Angeline is a TIME100 honoree for 2025, the winner of the Africa Education Medal in 2024, a Yidan Prize for Education Development laureate in 2021, and a TED speaker.