THE AFRICA TIMES | EGYPT — The International Finance Corporation (IFC) plans to inject more than $2.2 billion in new financing across North Africa this year, covering 10 countries including Egypt. This announcement was made by Cheick-Oumar Sylla, Director for North Africa and the Horn of Africa at IFC.
Investment Objectives
During a media roundtable held in Cairo, Sylla emphasized that the planned investments primarily aim to support job creation across the continent. Notably, IFC had already committed over $2 billion to Africa’s private sector in the previous year.
Sector-Specific Insights
Sylla highlighted that the information and communications technology (ICT) sector alone attracts approximately $1 billion annually in Ethiopia. This trend reflects the sector’s growing importance in expanding employment opportunities.
Challenges in Job Creation
Addressing the
