Charles Muheria, of Gatanga Province in Kenya, was born to farm coffee. The one-hectare plantation he cultivates was originally owned by his grandfather. Charles has taken over the family business with tireless dedication. “If you don’t work hard, you will go hungry,” he says.
Charles is one of the beneficiaries of a joint project by IFC and Ecom Agroindustrial Corporation which is among the projects featured in IFC’s latest report on its development impact in Sub-Saharan Africa.
The project highlights how sustainably developing business in the region requires the concerted efforts of many, working together in close, focused partnership. Alone, IFC would not be able to implement projects of the scale and scope of those currently being rolled out in the region. By collaborating across the World Bank Group and with development partners, a project can be structured to capitalize on the strengths of everyone involved, amplifying its impact.
We have learnt that collaboration is necessary for success – or, as the African proverb so succinctly puts it, “If you want to go quickly, go alone. If you want to go far, go together.” Together with our partners, we believe we can help Sub-Saharan Africa become a choice investment destination, encouraging economic growth so that people like Charles can better provide for themselves and future generations.
The report explores how far we have come in helping to grow the region, and provides an indication of the direction we and our donor partners are taking going forward.
The results in the report are for projects that were active during the year under review. IFC’s projects often span many years and the figures cited are therefore cumulative for the duration of each project.
In 2013, IFC Advisory Services had 133 active projects in Sub-Saharan Africa with a total portfolio value of $212.3 million and an annual expenditure of $64.3 million. By December 31, 2013, IFC Advisory Services had achieved the following main development results in Sub-Saharan Africa for projects active in calendar year 2013:
We helped about 14 million people access improved non-financial services
We facilitated loans worth about $17 billion to households and micro, small, and medium-sized enterprises through financial institutions and improved financial infrastructure
We helped save the private sector more than $100 million by simplifying regulatory compliance requirements
We helped African governments enact about 180 laws, regulations, and amendments to improve the investment climate
We supported more than 70 reforms in such areas as starting a business, licensing, construction permits, and alternative dispute resolution
We advised nearly 15,000 companies and public entities on ways to improve their services and implement new products
We trained about 130,000 people in business management, loan-application procedures, and better farming practices