The United Nations' Economic Commission for Africa (ECA) said on Tuesday it had scheduled an expert group meeting in Johannesburg later in the week to review the latest edition of its flagship Economic Report on Africa.

The report, entitled, “Innovation for Private Sector Development in Africa”, looks at current knowledge on innovations in finance, including financial technologies (fintech) and how they can make a breakthrough in financing business sector development.

It provides reference material for policymakers, business sector decision-makers and others on harnessing private sector finance for Africa’s sustainable development and looks at how countries can adopt industrial and investment policy to support digital development.

"The overall aim of the report is to articulate how innovative sources of finance can be utilized to finance Africa’s business sector development, taking into account both potential innovations in the financial services sector and innovations in businesses," the ECA said.

"These are integral components of achieving sustainable economic development."

The report is set to be launched during ECA’s conference of African ministers of finance, planning and economic development in March.