IFC’s strategy in Africa is to bring financial and advisory support to those who need it most - including smaller businesses, farmers, and students – and to support private sector growth and job creation in the region’s least developed countries and those recovering from conflict.
Development effectiveness is the guiding principle of IFC’s work. Through our Development Outcome Tracking System (DOTS), we measure the development effectiveness of our investment and advisory work, and have established ourselves as a leader in development results measurement. DOTS gives IFC a key competitive advantage, because it is critical to understanding how well our strategy is working and whether we are reaching the people and industries that most need our help.
DOTS allows for real-time tracking of development results throughout the project cycle. At the outset of a project, IFC staff members identify clear, standardized, and verifiable indicators, with baselines and targets. They track progress throughout supervision, which allows for real-time feedback into operations, until project closure.
IFC Advisory Services uses a logical framework for its projects, based on the Organization for Economic Co-operation and Development (OECD) guidelines. Results for Advisory Services are divided into outputs (direct deliverables provided by IFC to our clients), outcomes (institutional, legal, and behavioral changes by our clients resulting from IFC Advisory Services. The overall development effectiveness rating is a synthesis of the overall strategic relevance, effectiveness (as measured by project outputs, outcomes, and impacts), and efficiency of the services.
In fiscal year 2011, IFC’s investments in Sub-Saharan Africa reached a record $4 billion. IFC supported infrastructure, health, education, and agribusiness projects in the region, and strengthened smaller businesses and Africa’s capital markets.
IFC’s investment clients benefitted from $1.2 billion mobilized from other investors, and are expected to generate power for 1.54 million new customers, support 23,000 farmers, improve health services for 50,000 patients, and reach 10,000 students.
IFC Advisory Services was active in 35 countries, with 123 projects, valued at $204 million. Projects spanned a range of activities, such as increasing finance for farmers and entrepreneurs, improving health and education services, finding renewable energy solutions, building public private partnerships in infrastructure and supporting investment climate reforms. Public and private development partners provided $57.8 million in additional funding to support these programs.
In calendar year 2011, IFC’s advisory services in Sub-Saharan Africa:
Helped 12.6 million people receive access to improved services in the real sector
Trained 189,000 people in areas such as business management skills, business regulation, credit provision, and crop certification
Supported the creation of 82,300 jobs
Advised 18,500 companies, government agencies and other entities
Helped African governments to enact 150 laws, regulations or amendments to improve the investment climate
Helped to generate sales revenue of $138 million
Facilitated loans of over a total value of $1.04 billion to small and medium enterprises through financial institutions
To learn more about the development impact of Advisory Services in Sub-Saharan Africa, click here.
IFC is moving to a unified results measurement system which has three mutually reinforcing components namely the IFC Development Goals (IDGs) (which are forward-looking goals); a monitoring and tracking system to measure development results; and a system to evaluate the outcomes and impact of our activities.
To learn more about the IFC Development Goals click here.