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Originally published by Techish Kenyatech
October 6, 2025
3h ago
The World Bank’s private investment arm has a new plan for Africa: use its own money
IFC outlines how Africa’s own capital can fund jobs, green power, and food security, with Kenya a key test bed...
✨ Key Highlights
The International Finance Corporation (IFC), the private-sector arm of the World Bank, is shifting its strategy for funding development in Africa, focusing on mobilizing the continent's own vast domestic savings rather than relying primarily on international aid. This new approach aims to channel Africa's pension funds, insurance assets, and bank savings into crucial local projects, with Kenya serving as its primary test bed.
- The IFC has a $1.3 billion portfolio already active in Kenya and is doubling down on key areas.
- Vice President for Africa, Ethiopis Tafara, stated the institution is "shifting harder toward instruments that crowd in local investors."
- The plan focuses on generating jobs by investing in green energy, modern agriculture, digital infrastructure, and manufacturing through local financial institutions like KCB and Equity Group.
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