The generous backing of donor governments and a variety of other partners is vital to helping IFC unlock the potential of private sector growth across Africa. IFC’s advisory work in Africa, which is carried out through the Private Enterprise Partnership (PEP) Africa program, would be impossible without their backing.
"The contributions and advice of donors are essential to the growth and quality of IFC’s advisory work," says Bernard Chidzero, General Manager of PEP Africa. "Our collaboration has helped us advance some of our core priorities, including improving access to financial markets, developing small businesses, promoting sustainable business practices, and improving the investment climate in all of our member countries."
Donors have contributed $55 million to PEP Africa since its inception in 2005, funds used to deliver advisory services to more than 50 projects across Sub-Saharan Africa. These projects, located in 28 countries across Africa, are aimed at improving the business climate, supporting the development of infrastructure and financial markets, increasing the competitiveness of African companies and bringing desperately-needed jobs and industry to some of the poorest parts of the world.
Many parts of Africa face formidable challenges, including extreme poverty, a difficult business environment, and diseases such as malaria and HIV/AIDS. Sub-Saharan Africa contains 34 of the world’s 48 poorest countries and 24 of the 32 countries ranked lowest in human development, according to the United Nations.
To this daunting arena, donors from some of the richest corners of the world have stepped up with key financial and technical expertise. Governments from Europe, North America, Asia and Africa itself, along with several other institutions, have partnered with PEP Africa, the primary platform by which IFC offers advisory services in Africa.
Donors have funded initiatives as diverse as "Doing Business Better in Burkina Faso", leasing programs to Ghana, Madagascar and Tanzania and schools programs in Ghana and Kenya. IFC and its donors work as partners to reach the broader goal of reducing poverty and improving people’s lives through sustainable private sector investment.
Today, IFC is working more closely than ever with its donor partners to ensure money and advisory services are making a real difference to the people who need it most. Donors themselves are becoming more closely involved in PEP’s work by providing valuable expertise and training to IFC and its clients and by making experts available to assist on PEP projects.
For more information contact:
Daniel Musiitwa
Communications Officer
Johannesburg, South Africa
Tel: +27 11 731 3175
Email: dmusiitwa@ifc.org
