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Private Sector Operations in figures
The Bank’s private sector interventions in 2016, which emphasized co-financing, syndication, and strategic partnerships with the private sector—have strengthened its capacity to leverage and crowd-in third- party investors. These interventions lifted the ratio of private co-financing to Bank financing to 6:1, against the target of 5:1, which augurs well for the Bank’s future engagement with the private sector.
Each dollar of Bank investment in private sector development leveraged six dollars of third party co-financing.
Projects in the finance sector accounted for the largest share of approvals (73.5 percent), followed by energy (8.8 percent), transport (6.1 percent) and agriculture (5.7 percent). Multisector operations and those in the social sector each accounted for less than 5 percent of private sector approvals.
During 2016, total Bank approvals for private sector operations amounted To USD $ 2.71 billion, 24 percent higher than in 2015
Private sector operations contribute not just to Industrialize Africa but to the other High 5s priorities as well:
- Energy: Four projects were approved (USD $ 239 million)—a solar photovoltaic project in Mali, hydropower projects in Uganda and Nigeria, and a Pan-African Facility for Energy Inclusion.
- Transportation: One project was approved as a corporate loan (USD $ 165.4 million) to Ethiopian Airlines to support its expansion and strengthen regional linkages.
- Agribusiness: Four projects were approved (USD $ 151.4 million), including a project to produce white rice in Senegal, to preserve forest reserves in Ghana, equity participation in the Fund for Agricultural Finance in Nigeria, and a corporate loan to the Export Trading Company Group to finance part of its five-year Agriculture Investment Program in Africa. These are in line with the Bank’s strategy to promote inclusive and green growth, strengthening agriculture and food security, and improving access to SME finance.
- Social sector: Three projects were approved—two equity investments in health and a senior loan to Babalola University of Nigeria (the Bank’s first private intervention in education), helping to Improve the Quality of Life for the People of Africa.