Public-Private Partnerships (PPPs) and Their Effectiveness in Alleviating Poverty

Abstract

Purpose: The general objective of the study was to explore Public-Private Partnerships (PPPs) and their effectiveness in alleviating poverty.

Methodology: The study adopted a desktop research methodology. Desk research refers to secondary data or that which can be collected without fieldwork. Desk research is basically involved in collecting data from existing resources hence it is often considered a low cost technique as compared to field research, as the main cost is involved in executive’s time, telephone charges and directories. Thus, the study relied on already published studies, reports and statistics. This secondary data was easily accessed through the online journals and library.

Findings: The findings reveal that there exists a contextual and methodological gap relating to Public-Private Partnerships (PPPs) and their effectiveness in alleviating poverty. Preliminary empirical review revealed that Public-Private Partnerships (PPPs) had the potential to significantly alleviate poverty by leveraging the strengths of both public and private sectors to deliver essential services and stimulate economic growth. However, their effectiveness was found to be highly context-specific, depending on factors such as governance structures, stakeholder engagement, and regulatory environments. It was noted that successful PPPs were those that aligned with national and local poverty reduction strategies and incorporated social safeguards to protect vulnerable populations. The study emphasized the importance of careful planning, execution, and monitoring to ensure that PPPs achieved equitable and sustainable poverty alleviation outcomes.

Unique Contribution to Theory, Practice and Policy: The Resource-Based View (RBV) Theory, Stakeholder Theory and Public Choice Theory may be used to anchor future studies on Public-Private Partnerships (PPPs). The study recommended strengthening the capacity of local governments to manage PPPs effectively through training and capacity-building programs. It suggested fostering greater community involvement in PPP projects to enhance their relevance and responsiveness to local needs. The establishment of robust regulatory frameworks to ensure transparency, accountability, and the equitable allocation of risks was also advised. Additionally, the study highlighted the importance of integrating social and environmental safeguards into PPP frameworks and encouraged international cooperation and knowledge sharing to disseminate best practices and lessons learned from PPP projects globally. These measures were aimed at maximizing the potential of PPPs to reduce poverty and promote inclusive development.