Nairobi, Kenya, November 29, 2012 --
IFC, a member of the World Bank Group, is increasing its support for African
countries recovering from conflict, providing advisory services and seeking
partners for investments to help these countries build strong private sectors
and achieve lasting stability and growth.
As part of this effort, IFC, in partnership with the World Bank and This
is Africa, a Financial Times Publication, this week hosted a conference
in Nairobi that gathered high-ranking Africa government officials, and
members of the private sector and civil society groups to discuss ways
to increase investment in Africa’s post conflict countries.
The ‘Business after Conflict’ conference sought to dispel myths about
the perceptions of doing business in post-conflict countries, while addressing
some of the very real and serious problems these countries face in building
their private sectors and creating jobs.
Nena Stoiljkovic, IFC Vice President for Advisory Services, said, “Many
of Africa’s post-conflict countries are open for business and are good
investment opportunities. In addition to investing in these countries,
IFC is providing advisory services to help them improve their investment
climates and spur small business growth.”
Ministers and other government representatives from South Sudan, Sierra
Leone, Guinea, Liberia, and Cote d’Ivoire discussed the ways their countries
are reforming their investment climates to create the right conditions
for growth. Other topics explored during the conference were security-related
business issues, risk perception and financing, and supply chain governance.
IFC is active in many of the 18 countries in Sub Saharan Africa the World
Bank describes as ‘fragile or conflict affected’. IFC’s Conflict Affected
States in Africa Initiative is providing support in Burundi, the Central
African Republic, Cote d’Ivoire, the Democratic Republic of Congo, Guinea,
Liberia, Sierra Leone, and South Sudan. CASA is supported by Ireland, the
Netherlands, and Norway.
CASA recently helped Liberia establish a commercial code and court that
are making it easier for businesses to do business in the country. IFC
and CASA have also helped Burundi enact investment climate reforms that
propelled the country into the top 10 list of global reformers, according
to the World Bank Group’s 2013 Doing Business Report.
IFC is also actively investing in Africa’s post-conflict countries. In
2011, IFC invested $1 million in Advans Cote d’Ivoire. With IFC’s support,
Advans expects its microfinance portfolio to reach $35 million by the end
of 2017 and to disburse 100,000 loans by this time. In 2012, IFC made its
first investment in South Sudan. The $5 million loan agreement with UAP
Properties Ltd. will help the company build a 12-story structure that will
provide much-needed office and retail space in the country.
|IFC, a member of the World Bank
Group, is the largest global development institution focused exclusively
on the private sector. We help developing countries achieve sustainable
growth by financing investment, mobilizing capital in international financial
markets, and providing advisory services to businesses and governments.
In FY12, our investments reached an all-time high of more than $20 billion,
leveraging the power of the private sector to create jobs, spark innovation,
and tackle the world’s most pressing development challenges. For more
information, visit www.ifc.org.|