IFC is placing more resources on the ground in Africa and more senior decision makers close to our clients to serve them better. The objective is to bring more tangible benefits to the region’s poorest countries and people that need it the most.
For the first time, a member of IFC’s global management team—Vice President Thierry Tanoh—will be based in the region. IFC is placing directors in Dakar, Senegal and Nairobi, Kenya. Yolande Duhem will be responsible for IFC’s activities in West and Central Africa, while Jean Philippe Prosper will focus on East and Southern Africa.
With more senior staff and growing subregional hubs, IFC aims to have more expertise on the ground and capacity to make decisions more quickly.
“IFC wants to aggressively step up activities in places where we’ve been less active in the past, including Africa’s poorest countries and those emerging from conflicts,” says Tanoh. “Our new structure highlights a high level of commitment to Africa and will enable us to be closer and more responsive to our clients’ needs.”
REACHING MORE COUNTRIES
IFC’s investments and advisory services in Africa have been increasing dramatically over the last several years. The Corporation committed approximately $1.4 billion worth of investments to the region in FY07. IFC implements more than 80 business advisory services in 36 African countries.
In FY08, our business remained strong and steady in Africa, we reached more countries than ever through investments and advisory services. Our strategy in Africa is to grow as rapidly as we can deliver quality support to small and medium enterprises, which are the majority of businesses in Africa; catalyze large investment projects; and accelerate reform of the investment climate.
IFC’s strategy places special emphasis on several key sectors and initiatives. IFC aims to become more active in the region's poorest countries and those emerging from conflict, such as Central Afrcian Republic, the Democratic Republic of the Congo, Liberia, and Sierra Leone.
Improving the region’s poor infrastructure, which has hampered economic development and made it difficult for millions of people to access basic services such as clean water or safe sanitation, is also a priority. And we are scaling up support to agribusiness operations to address the sharp rise in food prices, which threatens to push millions of people in low income countries deeper into poverty.
For more information contact:
Houtan Bassiri
Communications Officer
Johannesburg, South Africa
Tel: +27 11 731 3179
Email: hbassiri@ifc.org
