Accra, Ghana, March 21, 2012 –
IFC’s recently appointed Director for Western and Central Africa, Saran Kebet-Koulibaly highlighted IFC’s rising investments in Africa, including $387 million in Ghana in fiscal year 2013, to support the country’s infrastructure, agribusiness, financial markets and entrepreneurs. IFC is a member of the World Bank Group.
During her first visit to Ghana this week, Kebet-Koulibaly met with Vice President, K. B. Amissah-Arthur; Governor of the Bank of Ghana, Dr. Kofi Wampah,
and some of IFC’s private sector clients. During these meetings, Kebet-Koulibaly discussed ways Ghana can strengthen its economy, especially in the energy, water and financial sectors.
“As one of West Africa’s fastest growing economies; Ghana is a key priority for IFC”, said Kebet-Koulibaly. “IFC is committed to supporting sectors that have high impact on reducing poverty and boosting Ghana’s economy; such as infrastructure, agriculture, small and medium businesses.”
IFC is active in more than 30 African countries, and has been expanding steadily. IFC’s annual investments in Africa have grown from $140 million in 2003 to a record $5.3 billion last year.
IFC’s recent investments in Ghana include an $85 million loan to
Takoradi International Company to increase electricity supply; mobilizing $115 million for Vodafone Ghana to improve telecommunications, and financing Kenya’s Vegpro Group’s expansion into Ghana. Vegpro, one of Africa’s leading fruit and vegetable producers, will work with 800 smallholder farmers in Ghana, giving them access to international markets for the first time.
Aside from investments, IFC and the World Bank are also working closely with the Ghanaian government to enact a number of reforms to its business climate, which will make it easier for investors to start a business, register property, and obtain construction permits.
IFC, a member of the World Bank Group, is the largest global development institution focused exclusively on the private sector. Working with private enterprises in more than 100 countries, we use our capital, expertise, and influence to help eliminate extreme poverty and promote shared prosperity. In FY13, our investments climbed to an all-time high of nearly $25 billion, leveraging the power of the private sector to create jobs and tackle the world’s most pressing development challenges. For more information, visit