Nairobi, September 24, 2008—IFC,
a member of the World Bank Group, has appointed a new director for Eastern
and Southern Africa, Jean Philippe Prosper, based in Nairobi, Kenya. The
appointment highlights IFC’s commitment to increasing its investments
and advisory services to have a larger impact on supporting the private
sector and promoting economic development in the region.
Prosper previously worked as IFC Senior
Manager covering East Africa. His new role is part of IFC’s strategy to
get closer to clients by bringing more resources to Africa and creating
two subregional hubs. IFC also has a new Director for West and Central
Africa, based in Dakar, Senegal.
“IFC’s choice of Kenya for the directorship
covering Eastern and Southern Africa highlights our commitment to the region
and to further increasing our activities to better serve clients,” Prosper
said. “IFC’s goal is to create opportunities for private businesses and
entrepreneurs and have a greater impact on improving the lives of Africans.”
IFC has been rapidly increasing its
activities in Eastern and Southern Africa over the last several years.
In East Africa, IFC invested $303.3 million in the fiscal year through
June 2008, compared with $284.4 a year earlier and just $20 million four
years ago. In Southern Africa, IFC invested $313.8 million, compared with
$243.08 million a year earlier.
Advisory services are also central part
of our strategy. In East Africa, programs such as the SECO-IFC Leasing
Program in Tanzania, the IFC Rwanda Leasing Program, and the IFC Rwanda
Entrepreneurship Development Program involve partnerships with institutions
to promote leasing and strengthen entrepreneurship. The Kenya Private School
Program is financing and advising private educational institutions in the
country. In Southern Africa, IFC works with companies such as Lonmin in
South Africa and Mozal in Mozambique to address issues such as the challenges
that HIV/AIDS presents for businesses and increasing economic benefits
for local communities.
IFC’s strategy in Eastern and Southern
Africa focuses on expanding engagement with the private sector, especially
in financial markets, tourism, agribusiness, mining, and infrastructure.
Our activities include direct investments, advisory services, and programs
such as the Small and Medium Enterprise Solutions Centers in Kenya and
Madagascar, which provide an integrated package of financing and advisory
services to smaller businesses.
IFC, a member of the World Bank Group,
creates opportunity for people to escape poverty and improve their lives.
We foster sustainable economic growth in developing countries by supporting
private sector development, mobilizing private capital, and providing advisory
and risk mitigation services to businesses and governments. Our new investments
totaled $16.2 billion in fiscal 2008, a 34 percent increase over the previous
year. For more information, visit www.ifc.org.