(Business in Cameroon) – The International Finance Corporation (IFC), part of the World Bank Group, is set to nearly double its investments in Cameroon over the next three years. In an interview with Business in Cameroon, Charlotte Ndaw Sako, IFC’s regional director for Cameroon, revealed that the organization plans to increase its investments from CFA 164 billion today to more than CFA 300 billion by 2028.
“We have very ambitious goals,” said Sako. “Over the next three years, we aim to fund over $500 million, which is more than CFA 300 billion.”
However, she noted that these investments will depend on the availability of financing and investment opportunities within Cameroon.
Founded in 1956, the IFC’s mission is to support private sector development in developing countries. As an international financial institution owned by its 184 member countries, the IFC focuses on areas such as infrastructure (energy, transportation, telecom), finance (banks, insurance, microfinance), health, education, agriculture, manufacturing industries, and climate and sustainable development.
In Cameroon, the IFC has already invested in the Nachtigal hydroelectric dam project, which has a capacity of 420 MW and cost over CFA 720 billion. Looking ahead, the IFC is also considering investing in the upcoming Kikot hydroelectric dam, which is expected to have a capacity of 500 MW.
“We participated in Nachtigal. We would love to do the same for the Kikot project and support the Cameroonian government in this venture,” Sako explained.
