Annual Report 2011 - Sub-Saharan Africa
IFC is supporting Africa's growth and increasing private investment with its second year in a row of investments over $2 billion. Direct investments and Advisory Services each reached 31 countries.
Sub-Saharan Africa continued its economic rebound from the global recession, with a strong growth rate of over 5 percent in 2010, and a 5.5 percent forecast for 2011. Financial institutions accounted for a significant share of our investments in FY11. Important advances were also made in infrastructure sectors.
IFC supported innovative and significant projects through the Dakar Toll Road and the Lome Container Port. IFC Advisory Services project expenditures totaled more than $50 million during the fiscal year. Advisory Services played a key role in supporting our work with projects that have a positive impact on climate change. We also expanded our engagement in the region's fragile and conflict-affected countries—for example, in Cote d'Ivoire immediately after the electoral crisis—and scaling up programs in South Sudan in anticipation of the country’s independence.