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

MasterCard grants Unified Payments acquiring license

MasterCard has granted an acquiring license to Unified Payment Service Limited, a leading payments service provider, in a move expected to broadly increase the acceptance of MasterCard payment cards in Nigeria. Read More

MTN Business backs emerging ICT entrepreneurs

MTN Business has embarked on a long-term supplier development programme that will empower young, black entrepreneurs to take their place at the forefront of South Africa’s evolution to a knowledge-based economy. Read More

CNN, MultiChoice launch 20th African Journalist Awards

CNN International and MultiChoice this week officially launched the CNN MultiChoice African Journalist 2015 Awards.   Read More

Cokodeal.com aims to revive ‘made in Nigeria’

Cokodeal.com, describing itself as Africa’s largest medium for business exposure, is aiming to boost Nigerian manufacturers through greater online exposure. Read More

Leading African airline adds new payment options

ASKY, the leading airline in West and Central Africa, has partnered with PayGate and booking engine SITA to offer web-based booking to its customers for the first time. Read More

Francis Dufay takes the reins of Jumia in Côte d’Ivoire

E-commerce firm Jumia has formalised the appointment of Francis Dufay at the head of its subsidiary in Côte d’Ivoire.  Read More

MTN Uganda rewards women entrepreneurs

The 2015 edition of MTN Women in Business Awards have seen Mrs. Barbara Ofwono, the proprietor of Victorious Schools, scoop the overall Award of MTN Women in Business SME CEO of the year. Read More

Microsoft 4Afrika launches Biz4Afrika online SME hub

Microsoft 4Afrika used the opening of the Connected East Africa event in Diani, Kenya today to launch Biz4Afrika, an online hub providing Kenyan small and medium enterprises (SMEs) with access to locally relevant information and promote trade. Read More

BTCL, SA’s Vodafone seal partnership

Botswana Telecommunications Corporation Limited (BTCL) and South African based Vodafone have signed a non-equity partnership agreement.  Read More

Mascom Derby horse race extravaganza for Botswana

Mascom is doing it again this year with its annual Mascom horse racing event which has been on the Mascom calendar for at least 10 years. Each year during the Easter holidays, Botswana’s leading mobile telephony provider gets people to Botswana’s tourist resort of Maun for the race.   Read More

PRESS OFFICES

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

FEATURED STORY

e-commerce space untapped, says phonekings heade-commerce space untapped, says phonekings head

E-commerce is the future, says the head of a new online electronics mall launched in Nigeria. Tayo Olusanya spoke to Kokumo Goodie in Lagos.

IN DEPTH

Villagers get solar training at Barefoot College Villagers get solar training at Barefoot College

The Botswana Human Resource Development Council (HRDC) has seconded seven semi-illiterate mostly Ngwatle villagers for a six month solar electrification training course at the famed Barefoot College in India. 

COMPANY NEWS

ICT skills in Kenya to grow as ICT Authority and Microsoft sign MOU

Kenya’s ICT Authority and Microsoft have signed a Memorandum of Understanding (MOU), which will, among other things, see Microsoft offer support in providing a platform that will ...