5 February 2010 – The International Finance Corporation(IFC) is investing more than $2 billion in sub-Saharan Africa in 2009/10 says Lars Thunell, CEO of the IFC.
He said that the IFC invested $1.8 billion in sub-Saharan Africa last year and was hopeful that investment could total as much as $2.5 billion for the fiscal year 2009/10.
According to Thunell, the IFC has started an asset management company to “crowd in even more funds into the emerging markets”.
With forecast growth of 4.1% for sub-Saharan Africa this year, and an estimated growth of 7% for Angola and Rwanda, and increased political stability, as well as a ‘new generation of leaders”, the prospects for investment in sub-Saharan Africa are improving. Emerging markets have lead the rally out of the global economic crisis, with benchmark stocks gaining 74% last year.