Shahryar Afra

Senior Associate

Shahryar Afra joined Limestone Analytics as a Senior Associate in 2022. Mr. Afra has more than eight years of experience in cost-benefit analysis, economic modeling, international development, and public finance. He has conducted economic analysis and evaluation of USAID, AfDB, and World Bank projects in various sectors (i.e., health, infrastructure, natural resources, transportation, energy, renewable energy, water, and agriculture) across 20 countries. Mr. Afra has built and reviewed numerous comprehensive spreadsheets of large-scale infrastructure projects. 

Mr. Afra has estimated shadow price factors for tradable and non-tradable commodities and services and supported the development of a web-based platform accounting for market distortions for economic cost-benefit analysis of investment projects in several countries (i.e., Mozambique, Ghana, Kenya, Rwanda, Uganda, and South Africa).

Mr. Afra has performed considerable academic research and lectured on various economics fields. He has also performed in-country data collection in several countries, including Mozambique, Zimbabwe, Rwanda, Uganda, and Ghana.


  • MBA, Master of Business Administration (2014)
    Eastern Mediterranean University, Famagusta, North Cyprus
  • BSc, Applied Mathematics (2010)
    Azad University, Qaemshahr, Iran
  • Professional Certificate on Investment Appraisal and Risk Analysis (2012)
    Queen’s University, Kingston, Ontario