IFC Africa investments top USD2bn

BUSINESS

|
Image: IFC activities improved power access. By World Bank
IFC activities improved power access

IFC, a member of the World Bank Group, issued a report this week on its work in Africa during the financial year ending June 30.

The report said the bank had seen strong business and development results across sub-Saharan Africa, supporting regional growth despite turbulence in the global economy.

During the previous calendar year, IFC’s activities generated power for an additional 6.6 million people, connected about 59 million telephone users, supported nearly 500 000 students, provided loans to 241 000 small businesses and 261 000 farmers and created about 217 000 jobs.

IFC said its new investments in sub-Saharan Africa reached 31 countries, with 87 of the 95 new investments made in some of the world’s lowest income economies.

Yolande Duhem, IFC Director for West and Central Africa, said: “IFC made significant progress in supporting Africa’s development last year.  Our investments in West and Central Africa and other parts of the continent grew, we saw important reforms to improve the investment climate in the region, innovative projects in priority sectors, and we have a large portfolio of investment and advisory projects that are improving people’s lives through better services and opportunities.”   

Jean Philippe Prosper, IFC Director for Eastern and Southern Africa, added: "Our increasing activities in Africa reflect IFC’s commitment to mobilise resources for entrepreneurial activity and projects driving forward the region’s private sector. IFC’s investments and advisory services are creating jobs, improving infrastructure, securing access to finance for small and medium enterprises, and raising health, education and living standards for Africans.”



Share the News

Get Daily Newsletter

comments powered by Disqus

MORE BUSINESS NEWS

Safaricom tops best managed company list

Safaricom has been named the ‘Best Managed Company in Kenya’ by leading market analysts. Read More

Equity Group appoints Bhartesh Shah as COO

Equity Group Holdings has announced the appointment of Mr. Bhartesh Shah to the Chief Operations Officer (COO) position. Read More

The nine top trends in CEM today

Customer experience management that genuinely enhances customer ‘stickiness’ depends on new strategies and now mindsets, says Frost & Sullivan. Read More

MTN, former ATCON chief disagree over naira devaluation

MTN Nigeria and a former president, Association of Telecoms Companies of Nigeria (ATCON) have disagreed over further devaluation of the naira. Read More

MTN Business launches Supplier Development Programme in Mpumalanga

MTN Business has reaffirmed its commitment to develop small and medium-sized enterprises (SMEs) within Nelspruit by extending its Supplier Development Programme (SDP) and Accelerator Programme (AP), the company’s enterprise development initiatives, to the Mpumalanga Province of South Africa.  Read More

VMware appoints Senior Vice President and GM of EMEA

VMware, a global leader in cloud infrastructure and business mobility, today announced the appointment of Jean-Pierre Brulard as Senior Vice President and General Manager of EMEA.  Read More

InfoGraphics chief urges investment in tech start-ups

The Managing Director of InfoGraphics Nigeria, Chinenye Mba-Uzoukwu, has urged wealthy Nigerians to invest in tech start-ups. Read More

Convergence Partners acquires stake in Nigerian Fintech firm

Convergence Partners has announced an investment of $20m for a strategic, minority stake in Venture Garden Nigeria. Read More

MTN Business augments its management team further with key strategic appointment

MTN Business SA has appointed an industry veteran, Mariana Kruger, as General Manager of Private Sector.  Read More

SA Competition Tribunal approves Telkom-BCX merger

Business Connexion Group Limited has announced that the Competition Tribunal of South Africa has approved the proposed merger between Business Connexion Group Limited ("BCX") and Telkom SA SOC Limited ("Telkom") with the imposition of conditions. Read More

PRESS OFFICES

Sage ERP AfricaSAP AfricaSage Pastel AccountingTrust PayVMWareSamsung ElectronicsMitsumi DistributionPhoenix DistributionMTN BusinessSchneider ElectricMultichoiceMicrosoft 4Afrika

FEATURED STORY

Alcatel-Lucent VP calls for collaboration to achieve Data Revolution in AfricaAlcatel-Lucent VP calls for collaboration to achieve Data Revolution in Africa

The Vice president of Alcatel-Lucent Africa, Daniel Jaeger, has reiterated the need for African stakeholders to work together to address challenges in the way of ICT development in Africa. 

IN DEPTH

High tech homes: Just press playHigh tech homes: Just press play

High tech, digital homes where everything is automated and connected aren’t the stuff of science fiction any longer, says BNC Technology.

COMPANY NEWS

MTN SA expands its FTTH network to the Western Cape

MTN South Africa has expanded its fibre to the home (FTTH) footprint to the Western Cape, and trenching has already commenced in the picturesque suburbs of Fresnaye ...