The new research center pursues a clear mission: to sustainably foster economic development in Sub-Saharan Africa through cutting-edge technologies. The partnership, officially established in 2025, connects the hubs of New York, Abu Dhabi, Accra, Kumawu in Ghana, and Oestrich-Winkel.

CTED is jointly led by Prof. Dr. Yaw Nyarko, Professor of Economics at NYU, and Prof. Dr. Raša Karapandža, Dean of EBS Business School and Professor of Finance at both EBS and NYU. More than 30 international researchers from economics, technology, and development studies are working together here to design practical solutions to some of the most pressing economic challenges on the African continent.

Research Focus and Methods

At the core of CTED’s work lies the integration of research and innovation. CTED leverages blockchain technologies, mobile financial applications, GIS mapping, AI-powered advisory tools, and digital trading platforms to create tangible change on the ground. Smallholder farmers gain access to new markets and credit, land administration becomes transparent and secure, financial services reach the previously unbanked, and cultural heritage is harnessed as a driver for tourism and local value creation.

Key Achievements

The projects are already delivering measurable impact: In Ghana, CTED currently supports 10,000 smallholder farmers, with plans to scale to 50,000 in the coming years. The team has digitized 25,000 land registry documents and mapped two percent of Ghana’s land area – a milestone for transparent property rights. Eight cultural and museum sites, including a UNESCO World Heritage Site, have been established, and over 200 new artworks have been supported. With blockchain-based financial services, CTED is also creating access to the formal financial system for potentially millions of people.

Awards and Funding

For this pioneering work, the Center has received multiple awards. Among them are the Falling Walls 2024 Social Sciences and Humanities Prize, the Gates Foundation “Aim for Scale” grant, as well as the University Blockchain Research Initiative (UBRI) / Silicon Valley Community Fund Grant.

“Through CTED, EBS joins forces with NYU to translate future technologies into real economic opportunities for regions with significant development needs,” emphasizes Prof. Dr. Raša Karapandža.

Prof. Dr. Yaw Nyarko adds: “Our goal is to create self-sustaining systems that improve livelihoods and enable long-term growth without external aid.”

This international alliance creates a research center that unites science, technology, and local expertise – setting new standards for innovation in development policy.