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Africa Investment Forum: Foreign investors look to African assets
The European Bank for Reconstruction and Development has invested more than $11 billion over the past seven years into developing the private sector and market economies in North Africa. They are currently in Morocco, Tunisia and Egypt. The Bank’s Managing Director, Janet Heckman, spoke to CNBC Africa’s Kopano Gumbi on the second day of the Africa Investment Forum held in Sandton.
Thu, 14 Nov 2019 11:09:57 GMT
Disclaimer: The following content is generated automatically by a GPT AI and may not be accurate. To verify the details, please watch the video
AI Generated Summary
- The European Bank for Reconstruction and Development (EBRD) has invested over $11 billion in North Africa over the past seven years, with a focus on developing the private sector and market economies in countries like Morocco, Tunisia, and Egypt.
- EBRD's investments in North Africa span across sectors, with a significant focus on renewable energy projects. Initiatives like the Benban Solar Plant in Egypt and renewable energy auctions in Tunisia demonstrate the bank's commitment to sustainability.
- In addition to financial returns, EBRD's projects in North Africa aim to create social impact by supporting women in business, youth entrepreneurship, and initiatives for technical training. The bank's collaborations and investments are geared towards driving economic growth and fostering inclusive development in the region.
The European Bank for Reconstruction and Development (EBRD) has been actively involved in investing in North Africa for the past seven years, with a focus on developing the private sector and market economies. Managing Director of EBRD, Janet Heckman, shared insights on the bank's investments in Morocco, Tunisia, and Egypt during an interview at the Africa Investment Forum. With over $11 billion already invested in the region, EBRD is committed to driving economic growth and creating social impact across various sectors. One of the key areas of investment for EBRD in North Africa has been renewable energy. In Egypt, the bank played a significant role in financing Africa's largest solar project, the Benban Solar Plant. Similarly, renewable energy auctions in Tunisia and partnerships in Morocco have showcased EBRD's commitment to sustainable development. Beyond renewable energy, EBRD is actively engaged in supporting initiatives for women in business, youth entrepreneurship, energy efficiency, manufacturing, and agribusiness. The bank's projects aim not only to generate financial returns but also to create positive social impact. EBRD's focus on social impact is evident in projects like vocational training centers for youth employment and technical training in partnership with local businesses. Additionally, initiatives to support women entrepreneurs through access to finance and technical advisory services are helping to overcome structural barriers in the North African region. EBRD's efforts to promote gender equality and empower women in business are making a notable difference. Janet Heckman highlighted the importance of changing systems and legal frameworks to enable more women to participate in the business sector. By addressing challenges such as inheritance laws and facilitating programs like women on boards, EBRD is paving the way for increased female representation in leadership roles. The Africa Investment Forum provides a platform for EBRD to collaborate with partners like the African Development Bank and engage in strategic business dealings. Emphasizing the role of the private sector in driving economic growth, Janet Heckman reiterated EBRD's belief in the potential of private investments to unlock opportunities in North Africa. Through public-private partnerships and supporting infrastructure projects, EBRD aims to catalyze investments and create an enabling environment for businesses to thrive. The bank's focus on leveraging the strengths of the private sector aligns with its mission to foster sustainable development and market economies in the region. As EBRD continues its investments in North Africa, the bank remains committed to driving innovation, promoting social impact, and unlocking opportunities for economic growth.
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