The Industrial Finance Corporation’s (IFC’s) executive vice president, Peter Woicke yesterday concluded a four day visit to South Africa, saying that “My visit underlined the importance that IFC attaches to its strategy for South Africa to help reduce poverty and widening opportunities for economic advancement”.

IFC, which is affiliated to the World Bank, and whose MD Mamphela Ramphele accompanied Woicke, promotes private sector enterprise in developing countries such as South Africa.

Woicke’s programme included calls on the ministers of finance, minerals and energy and trade & industry to introduce IFC’s new Africa strategy.

Woicke also met with young female and male entrepreneurs, Nepad secretariat Wiseman Nkhulu, heads of South Africa’s leading industrial and financial companies and visited IFC clients, SasolL, Anglovaal Mining, Spier, First Rand, and Karsten Farms.

He also received an update on the issues and impact of HIV/Aids in South Africa.

IFC’s strategic priorities for South Africa include supporting empowerment initiatives in the mining sector, supporting financial sector deepening by investing in banks and non-bank financial institutions and supporting the creation of new securities; investing in key export sectors such as tourism, agribusiness, mining and manufacturing; and providing help to micro, small and medium-size enterprises in collaboration with financial institutions and technical assistance from other donors.