The International Finance Corporation (IFC) has announced new investments worth $310 million to strengthen small and medium-sized enterprises (SMEs), create jobs, and deepen financial inclusion across Africa.
The announcement was made at the Africa Financial Summit (AFIS), held in partnership with the Jeune Afrique Media Group and the Kingdom of Morocco. The two-day event brought together African central bank governors, regulators, financial institutions, and fintech innovators to explore ways to mobilize domestic capital and attract foreign investment to drive sustainable economic growth.
During the summit, IFC unveiled a series of partnerships and financing projects targeted at supporting smaller businesses in Egypt, Morocco, and Ethiopia, with a focus on empowering women entrepreneurs and underserved communities.
The projects include a $50 million financing package to Suez Canal Bank in Egypt to expand lending to SMEs, especially in underserved regions, with 25 percent dedicated to women-owned businesses.
another initiative, IFC introduced a $10 million local-currency risk-sharing facility with Attijariwafa Bank Egypt to broaden access to finance for small enterprises. Half of this funding will benefit SMEs in vulnerable communities, while a quarter will go to women-led firms. The initiative is supported by the Prospects Partnership, which focuses on host communities and forcibly displaced persons.
In Morocco, IFC announced a $250 million risk-sharing facility with Saham Bank to strengthen the country’s financial system and sustain lending to key sectors. IFC will share up to 50 percent of the credit risk on Saham Bank’s $500 million corporate loan portfolio, enabling greater access to finance for local businesses.
Additionally, in Ethiopia, IFC launched an advisory support program for VisionFund to enhance its lending capacity to micro and small enterprises. The project will improve the institution’s business planning, risk management, and responsible finance practices, building on IFC’s recent $10 million local-currency loan to VisionFund.
Ethiopis Tafara, IFC’s Vice President for Africa, said the initiatives reflect IFC’s confidence in Africa’s entrepreneurial potential and the need for blended financial support to unlock it. “The combination of Africa’s own financial resources with strategic international capital is a potent recipe for growth. Africa’s entrepreneurs are building companies that rival any in the world, and with the right support, they can create the jobs and opportunities the continent needs,” Tafara said.
Established in 2021, AFIS promotes collaboration between public and private sector leaders to identify financial reforms and market-driven initiatives that can accelerate growth. This year’s edition attracted more than 1,200 senior figures from Africa’s financial ecosystem, focusing on strategies to channel more capital into enterprises that create jobs and stimulate inclusive development.
Over the past two decades, IFC has worked with more than 300 financial institutions across 40 African countries, enhancing banking systems, mobilizing private capital, and expanding access to finance. The new $310 million commitment continues that mission, empowering entrepreneurs, strengthening local economies, and driving Africa’s next wave of sustainable growth.
