IFC plans to increase investment in sub-Saharan African oil and gas
Jul 29, 2009 02:00 AM
The International Finance Corp. (IFC), the private investment arm of the World Bank, plans to increase spending on
sub-Saharan Africa's oil and gas industry and sees "significant" opportunities in Ghana, Uganda and Tanzania.
"Africa is a focus region for us," said Kamal Dorabawila, the IFC's Africa Sector Lead on Oil & Gas.
The lending arm has so far invested $ 400 mm in Africa's oil and gas industry, about 19 % of its global investment in the industry, he added.
