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In 2017-2018, Sub Sarahan Africa captured one-fourth of IFC’s long-term investments

Wednesday, 06 February 2019 16:32
In 2017-2018, Sub Sarahan Africa captured one-fourth of IFC’s long-term investments

(Ecofin Agency) - The International Finance Corporation (IFC)’s annual investments in Africa represented more than one-quarter of its long-term investments in the world during the 2017-2018 fiscal year. This was indicated, this week, by Linda Munyengeterwa, IFC’s regional director for infrastructures and natural resources in Africa and the Middle-East.

During an interview with La Tribune Afrique, the regional director indicated that the IFC invested a record $6.2 billion in Sub Saharan Africa during the fiscal year that ended in late June 2018. This represents about twice the $3.5 billion invested during the preceding fiscal year.  

According to the director, this growth of the investments was mainly spurred by the infrastructure sector. During the period under review, the IFC invested more than $3 billion in infrastructure projects in Sub Saharan Africa.

Overall, infrastructure investments have been on the rise in Sub Saharan Africa. In 2017 for instance, $50 million infrastructure investments recorded a 5.9% rise. The rise of long-term infrastructure investments in the East African region notably makes believe that the rise could go further.

This rise in infrastructure investments is confronted with major funding problems. According to the African Development Bank, governments, which are the leading investors in these projects (with more than 27.1% of funded projects in 2017), could lack the funds to fix the infrastructure gap whose value is estimated to be between $82 billion and $112 billion yearly.

A report published by the Global Infrastructure Hub (GIH) indicates that Africa will still need $1,700 billion to fund it's infrastructure projects in the coming 22 years; a need that could be an opportunity for investors.  

Moutiou Adjibi Nourou

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