Business
Africa Finance Corporation seeks to invest $3 billion across sub-Saharan Africa
“Policy reversals happen quite often. When a new government comes in they reverse policies that the previous government had put in place and businesses that had reacted to the first set of policies can be left high and dry,” he said.
This year’s coups in Mali and Guinea Bissau had also shown the possibility of political turmoil that could affect investments was also lurking in the background, he said.
The AFC aims to tap emerging opportunities after years of stable economic growth across several economies, the majority of its are held by private firms from Nigeria and Kenya.
Alli, who previously headed the International Finance Corporation’s operations in Nigeria and Southern Africa, said they wanted more African nations to join the AFC as shareholders to fund the continent’s development and make a profit.
“Investments in Africa have yields that are among the highest returns of different continents,” he said.
