The World Bank RCIP initiative to leverage private sector investment in terrestrial networks and the IFC support to the private sector-led EASSy submarine cable are part of a broader joint World Bank/IFC effort to address connectivity issues and promote private sector participation in Africa. For the past decade, the World Bank has focused on partnering with Governments to deepen reforms and improve the investment climate for private sector participation in the telecommunications sector. The World Bank endorses private competition in a level playing field environment, and is currently partnering with 30 countries in Sub-Saharan Africa in this area. The IFC is an early financier and investor in Africa-based telecommunications private sector operators who have now become regional leaders. The IFC is currently a direct or indirect financier for private sector telecommunications operators in 25 countries in Sub-Saharan Africa and has in the recent years mobilized close to US$1 billion for the sector. These efforts have played a role in creating a demonstration effect, which, coupled with positive changes in the investment environment, has contributed to changing the perception of investors towards Africa, who are now attempting to replicate this success in other infrastructure and business areas.
|
RSS