The International Finance Corporation (IFC) convened a press roundtable with senior leadership to explore how Africa’s financial sector can unlock and channel domestic capital toward Africa’s sustainable development. The session was led by IFC’s Vice President for Africa, Ethiopis Tafara, to discuss innovative financial solutions driving inclusive growth across the continent.
The roundtable was held in the lead-up to the Africa Financial Summit (AFIS), co-hosted by IFC and Jeune Afrique Media Groupe on November 3–4 in Casablanca, Morocco. At the summit, the role of Africa’s financial sector in advancing sustainable development will be examined in depth.
Ethiopis Tafara, a U.S. national of Ethiopian origin with decades of senior development experience, was appointed IFC’s Vice President for Africa in May 2025. Based in Nairobi, he leads IFC’s $17 billion Africa portfolio and a team of nearly 800 staff, driving private sector-led growth and job creation across the continent.
In line with IFC’s 2030 vision and the VP’s strategic direction, IFC is ramping up efforts to unlock private sector potential across the continent. This includes expanding access to finance for MSMEs, speeding up renewable energy investments, scaling digital infrastructure to support microbusinesses, and strengthening agribusiness and food security as central drivers of inclusive growth across the region. IFC is also increasing its engagement in fragile and conflict-affected regions, advising governments on sustainable infrastructure and climate resilience. These priorities are not just operational; they reflect a broader goal to create investable asset classes, encourage regional integration across manufacturing and services, and establish IFC as a trusted partner in Africa’s transformation.
“Across Africa, our priority is to unlock private capital at a scale that can truly transform economies. The need is urgent — millions of young people enter the workforce every year, and we must create more jobs faster than ever before. That means going beyond what development institutions can finance alone and creating the right conditions for investors to back ventures that drive inclusive growth. By working with governments, the private sector, and partners, we can channel Africa’s own capital into high-impact sectors — from infrastructure and energy to agribusiness, tourism and manufacturing — where investments ripple through local economies, creating jobs and building a more resilient future,” said Tafara.
As of August 31, 2025, the International Finance Corporation’s (IFC) investment portfolio in Kenya totalled $1.3 billion, which is helping to create jobs, expand access to energy, strengthen infrastructure, boost manufacturing, grow agribusiness, deepen financial services, and advance digital connectivity. In addition, IFC is delivering $65 million in advisory programs to attract private investment in agribusiness, affordable housing, manufacturing, and small businesses.
Kenya is a priority country for the World Bank Group’s AgriConnect initiative, which is unlocking new markets and opportunities for farmers. IFC is partnering with companies to help farmers increase their incomes, strengthen their businesses, and boost food production. Through the M300 initiative, IFC is partnering with Kenya to accelerate its energy access goals, including achieving 100% renewable energy by 2030.
AFIS 2025 will be held in Casablanca, Morocco, on November 3–4, bringing together over 1,000 leaders from the financial industry, including bankers, insurers, fintech innovators, capital markets, and mobile money operators – alongside policymakers and regulators from Africa and around the world. The summit will focus on how more of Africa’s savings can be invested at home to drive growth. As co-host, the International Finance Corporation (IFC) will showcase innovative tools that are already turning local capital into jobs, stronger food systems, and greener infrastructure.
Africa’s sustainable development and future growth depends on mobilising domestic savings and channelling them into productive investments that build resilience and create opportunities. Strengthening banks, insurance, fintech, and capital markets will be key to meeting infrastructure and small business financing needs. African investors play a transformative role in powering the continent’s sustainable development, and this event aims to unlock more of this transformation.
IFC, a member of the World Bank Group, is the largest global development institution focused on the private sector in emerging markets. We work in more than 100 countries, using our capital, expertise, and influence to create markets and opportunities in developing countries. In fiscal year 2025, IFC committed a record $71.7 billion to private companies and financial institutions in developing countries, leveraging private sector solutions and mobilizing private capital to create a world free of poverty on a livable planet.
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