IFA gets fund for infrastructure development in six African nations
Investment fund Africa IFA has secure US$6 billion for infrastructure development in Africa. This IFA fund is the first phase of its drive towards infrastructure development in Africa. The deal was announced during an interview with investment fund’s chairperson and chief executive Neil de Beer.
According to Neil, the lack of modernization, infrastructure and the backlog in Africa inspired the project-focused business. He also said that the IFA had a macro-strategy with a micro-implementation philosophy.
Watch video of the interview below;
This micro-implementation philosophy will only benefit six countries out of the 55 nations. Meanwhile, this six nations include Ivory Coast, Lesotho, Namibia, Botswana, Mozambique and Mauritius. IFA believes they can achieve three things: impact, visible action and implementation in these countries.
Neil de Beer said ”The lack of African investment and the lack of infrastructure development from an African perspective was shocking. He also said what happened was very clearly was the Chinese, the Europeans and Americans, as well as the International Monetary Fund, are not helping in that regard.”
The fund is vital as it will help create more infrastructure development in those six nations.