IFC’s Commitment to Sub-Saharan Africa
IFC’s investments in Sub-Saharan Africa have never been stronger, helping to bring tangible benefits to millions of people across the region. In FY07, IFC committed approximately $1.4 billion in new investments in Sub-Saharan Africa, roughly double the amount for the previous year. At the close of the fiscal year, IFC’s total committed portfolio in the region reached almost $3 billion. While much of these investments have come due to improving economic conditions in Africa, IFC has also been actively looking to increase its activities in sectors and country’s where we have been less active.
The Corporation’s investments in Sub-Saharan Africa are expected to continue to grow in the coming years. Our strategy calls for a continued increase in our portfolio, fueled primarily by investments in three key sectors: financial markets, infrastructure, and the extractive industries, such as mining.
IFC FY03-FY07 Commitments ($ Millions) in Africa by Sector
(figures rounded)
SECTOR | FY03 | FY04 | FY05 | FY06 | FY07 |
Agribusiness | 8 | 37 | 12 | 27 | 3 |
Global Financial Markets | 28 | 87 | 129 | 414 | 508 |
Global Manufacturing & Services | 6 | 32 | 80 | 40 | 158 |
Infrastructure | 15 | - | 7 | 149 | 172 |
Information & Communications Technology | 21 | 100 | 122 | - | 161 |
Subnational Finance | - | 30 | - | 6 | - |
Oil, Gas, Mining & Chemicals | 52 | 103 | 82 | 11 | 305 |
Private Equity & Funds | 10 | 15 | 10 | 28 | 60 |
Health and Education | - | - | 1 | 3 | 12 |
Total | 140 | 405 | 445 | 700 | 1379 |
IFC’s Regional Strategy
IFC puts clients’ needs first in striving for strong growth and development impact, and we work closely with development partners such as the World Bank to achieve our goals. Our strategy in Sub-Saharan Africa aims to:
- Improve the business environment
- Increase support to small and medium enterprises
- Proactively develop additional projects to support investments
IFC also plans to become more active in the region’s postconflict countries. In June 2006, IFC’s Board approved an initiative to enhance our presence in the Democratic Republic of the Congo, Liberia, and Sierra Leone.
For more information contact:
Houtan Bassiri
Communications Officer
Johannesburg, South Africa
Tel: +27-11-731-3179
Email: hbassiri@ifc.org
