Africa Day

Africa Day, celebrated every May 25, marks the founding of the Organization of African Unity (now the African Union) in 1963. It is a time to recognize the continent's progress and potential, its dynamism and the depth of its inventiveness and cultures. Join us in celebrating Africa Day by exploring how IFC's efforts are making a lasting impact on the continent.
 

IFC is working to create a more resilient future in Africa, focusing on scaling up engagements across the continent to support small businesses and entrepreneurs, create jobs, and foster economic growth and private sector development. 

 In FY24, IFC invested a record $14.2 billion in Africa’s key sectors including clean energy, manufacturing, digital connectivity, small business, trade, and agriculture. These investments supported 130 projects in 45 countries, including 30 which are classified as low-income and/or fragile and conflict affected situations (FCS).

Examples of IFC’s work in Africa:

IFC in Africa

Mission 300 is Powering Africa

Job Creation

Royal Apparel EPZ Ltd, Kenya: In 2025, IFC partnered with Royal Apparel EPZ Ltd to build a factory near Nairobi, creating an estimated 3,700 jobs, mainly for women. IFC provided a $15 million loan, with $10 million from its own account and $5 million from the Canada-IFC Advancing Gender Equality, Resilience, Opportunity and Inclusion Worldwide Facility (Canada GROW).

Agriculture

Volcafe, East Africa: IFC and Absa Group Limited are providing up to $60 million in trade finance to Volcafe, supporting tens of thousands of coffee farmers by providing working capital for purchasing coffee cherries from smallholder farmers.

Infrastructure

Damietta Port, Egypt: IFC contributed $120 million to a $455 million co-financing package for Damietta Alliance Container Terminals, expected to triple the port’s capacity and create thousands of jobs during construction and operation.

Energy

Release by Scatec, Cameroon and Chad: IFC committed a $100 million financing package to support clean energy generation, adding 35 MW and 36 MW of solar power to the national grids of Chad and Cameroon, respectively.

Private Capital Mobilization

Indorama Eleme Fertilizer and Chemicals Limited, Nigeria: A $1.25 billion financing package is helping Indorama ramp up its fertilizer production and develop a port terminal for exports, supporting food production and food security across regional and international markets.

Stories of Impact