“There is a lot of talk around retrenching from Africa but I’m not seeing this at all,” Anohu-Amazu says.
“Look at what the International Finance Corporation (IFC) are doing in the region for instance. If you look at the amount of money they are putting into Africa, I wouldn’t say this meant that investment was scaling back at all.”
Most recently, the IFC has lent $25m to support the expansion of Nigerian dairy company Promasidor; invested $200m in Guinea’s bauxite mining sector; and arranged a financing package to expand Ghana’s seaport to boost trade.
Although the IFC as part of its mandate often invests in sectors and countries that are not as popular for mainstream investors, for Anohu-Amazu, this highlights an interesting point: “Institutions such as the IFC are coming into Africa because there are still obvious returns to be made – impact investing can still be profitable.”