Goalkeepers 2023 — Restorative Economics Keynote
FROM: GOALKEEPERS 2023 CONFERENCE BY GATES FOUNDATION
Nwamaka Agbo challenges the traditional economic model that prioritizes profit over people, proposing instead a framework for "Restorative Economics" rooted in community ownership and shared prosperity. Drawing on her work with the Kataly Foundation and the Restorative Economies Fund, Agbo illustrates how shifting power from outside investors to local residents can reverse displacement and build collective wealth. Through the example of The Guild’s redevelopment of a historic building in Atlanta, she demonstrates that it is possible—and necessary—to replace individual hoarding of capital with systems where Black and brown communities govern their own assets and determine their own futures.
TALK BEGINS AT 2:48:07 | TALK CONCLUDES AT 2:53:56
Key Takeaways
Community Ownership Over Corporate Control: Traditional development allows outside investors to accumulate wealth while residents merely use the space; Restorative Economics flips this by ensuring the community owns and governs the asset, so financial benefits stay within the neighborhood, with the people.
Accessible Investment Models: Projects like 918 Dill Avenue lower barriers to entry by allowing residents to buy shares starting at just $10 a month, enabling those without excess capital to become equity holders and gradually transfer ownership from early funders to the community.
Shifting Power in Philanthropy: The current dynamic of grantors as decision-makers and grantees as passive beneficiaries creates an asymmetry of power that hinders justice; true liberation requires decision-makers to redistribute not just capital, but also authority and agency.
Rooted in Collective Stewardship: The concept of shared wealth is not new but draws from ancestral practices, such as the collective stewardship of land seen in Agbo’s Nigerian heritage, where resources are shared and well-being is a communal responsibility rather than an individual pursuit.
Actionable Vision for Liberation: This is not a theoretical ideal but a present-day reality being built by organizations like The Guild and Kataly; the call to action is for individuals—whether they hold resources or receive them—to collaborate in creating systems that center Black and brown self-determination.
Full Transcript
2:48:07
>> Nwamaka Agbo:
If you walk by 918 Dill Avenue in Capitol View, a historic Black neighborhood in Atlanta you'll hear the hum of construction and see a building being brought back to life. Originally built in 1930 this structure has been home to many things—a church, a restaurant, a corner store—but for a long time it stood unused and abandoned. My name is Nwamaka Agbo and I'm honored to be here with you to share a story about people building homes, businesses, and power together. In my work at the Kataly Foundation and our Restorative Economies Fund, my team and I redistribute wealth and resources to support the power of Black and brown people. We do this by supporting community-owned and community-governed projects—projects that bring people together to create shared prosperity, self-determination, and collective power.
2:49:19
I created the Restorative Economics Framework to upend the dynamic of our current economic system—a system where profit is prioritized over people and the planet. I find myself circling back to the same question: Can we challenge the model of individual wealth and create shared prosperity instead? Can we let go of hoarding power and control?
2:49:52
The work happening at 918 Dill Avenue, led by an organization called The Guild, offers an example of why the answer is “Yes.” The Guild is a people of color-owned community development cooperative. They saw how people in Atlanta, especially Black and brown folks, were being rapidly displaced by development being driven by outside forces. So, they decided to shift power away from corporations and towards residents who want to have agency over the place where they live.
2:50:31
When their work is completed, 918 Dill Avenue will be a development that is owned and governed by its residents. The property will include a locally-sourced grocery, a shared kitchen, space for Black restaurateurs, and permanently affordable housing. The investors in the building will be community members who live in the neighborhood, and the cost of shares will start at $10 a month, making it affordable for people without excess money to invest. As more residents buy shares, the equity of the building will transfer from early investors like Kataly to the community.
2:51:22
In traditional development, an outside investor makes the investment decisions and also owns the asset. So the wealth accumulates back to the investor over time. With Restorative Economics, the community owns the asset, so they financially benefit from the project as opposed to just getting to use the asset as long as the investor sees fit.
2:51:51
My curiosity about community ownership was sparked when I visited my ancestral villages in Nigeria growing up. There, I got to see how the stewardship of land was seen as a collective duty. The fruit of the land was shared among all, and people were invested in each other's well-being. From what I've seen with my family and with my work, I know that it is possible to challenge individual wealth and to relinquish power. In philanthropy, typically, there is the grantor as the decision maker and the grantee as the beneficiary. But this asymmetry of power is not going to get us to justice and liberation.
2:52:41
Some of you in this room today are decision makers. Others are receiving resources. How can we build relationships that make us better people and our institutions stronger? What if decision makers not only redistribute capital, but also shift power?
2:53:09
I want you all to imagine a world where we create shared wealth—where instead of resources being held by a few people who live in a place together, steward the assets to benefit everyone. A world where Black and brown people have the capital, power, and agency to execute their visions for prosperity in their communities. This is not a world that only exists in our imagination. It is a world we are building together, right now. The folks at The Guild are building it. We at Kataly are building it. Will you build it with us? Thank you.
Related Resources
Learn more about Restorative Economics
Explore more of Nwamaka’s Talks