Funding projects in Africa continues to pose a major benefit to South Africa as it creates a market for South African goods and related services, according to Thokoane Tsolo, who heads up the Africa division of the Industrial Development Corporation (IDC). “We often get asked why are we funding an airport in Senegal or the development of a business plant in Nigeria,” he said at an Africa Exchange conference in Johannesburg recently. “Despite persistent afrophobia and general perceptions of gloom and doom, Africa is open for business. As a project financier it is important for us to be involved across the continent.” He said with the largest and most sophisticated economy on the continent, it was important for South Africa to start taking advantage of the growth opportunities being presented on its doorstep. According to Tsolo, the IDC only invests in projects that have some beneficiation for South Africa or the region.
‘IDC’s investments in Africa must benefit SA’
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