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Africa Investment Climate Facility Launched at World Economic Forum on Africa in Cape Town |
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1 June 2006 - Cape Town
The African Investment Climate Facility (ICF), an innovative public-private partnership aimed at making Africa a better place in which to do business, was formally launched at the World Economic Forum on Africa, which is taking place in Cape Town from 31 May to 2 June.
An independent trust launched in 2005 that is to dissolve in 2012, the ICF had set a target of US$ 550 million – US$ 50 million from business and US$ 500 million from governments and donor countries and organizations. The goal of the ICF is to remove obstacles – both real and perceived – to doing business in Africa. Run out of South Africa by SBP, a non-profit organization, it is focusing on property rights and contract enforcement, reducing red tape, taxation and customs reform, development of financial markets, infrastructure facilitation, labour market restructuring, the promotion of competition, and the control of corruption and crime.
The ICF is co-chaired by Niall FitzGerald, Chairman, Reuters, United Kingdom, and Member of the Foundation Board of the World Economic Forum, and Benjamin William Mkapa, President of Tanzania from 1995 to 2005. Both Co-Chairs will participate in the session on Thursday.
For more information, go to the ICF website at www.investmentclimatefacility.org
Contact:
Ms Chris Darroll
Executive Director
SBP
Tel. +27 11 486 0797
E-mail: Chris@sbp.org.za
www.sbp.org.za
Photos of our events can be downloaded free of charge for journalists at http://www.swiss-image.ch/worldeconomicforum (login required).
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The World Economic Forum is an independent international organization committed to improving the state of the world by engaging leaders in partnerships to shape global, regional and industry agendas.
Incorporated as a foundation in 1971, and based in Geneva, Switzerland, the World Economic Forum is impartial and not-for-profit; it is tied to no political, partisan or national interests. (www.weforum.org)
For more information, please contact:
Communications and Public Affairs
World Economic Forum
Tel.: +41 (0) 22 869 1212
Fax: +41 (0) 22 869 1394
E-mail: public.affairs@weforum.org
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