World Bank plans to increase investments in Africa

The World Bank's private sector arm said on Wednesday it plans to increase the level of its investments in Africa in order to promote entrepreneurship.

International Finance Corporation (IFC) Regional Director for Eastern and Southern Africa Cheikh Oumar Seydi told Xinhua in Nairobi that IFC is only constrained by the number of opportunities that are available in Africa.

IFC's total investment portfolio in loans and equity in Sub Sahara Africa are estimated at five billion dollars, up from 200 million dollars 12 years ago. The director said that long term investments are approximately three billion U.S. dollars, while short term finance stands at two billion U.S.  dollars.

Source: African News
Published on: 4 May 2016