The World Bank has urged
South African companies to stake a claim to the $45
billion that the group has set aside for projects on the
Speaking at a seminar on
doing business with the World Bank recently, the
Executive Director of the World Bank Group representing
Angola, Nigeria and South Africa, Bongi Kunene, urged
local companies to make use of opportunities presented
by the group.
"This seminar provides a perfect opportunity for us to
share with the private sector opportunities that are
available in the World Bank Group. We have raised $72
billion for low-income countries of the world. As a
board, we have decided that US$45 billion of that money
will be spent in Africa. The clients are African
governments but as you know, most of government work is
executed by contractors," said Kunene.
Kunene said the money would be used in various sectors
of infrastructure. These include economic infrastructure
such as roads, water and energy.
"We will go beyond economic infrastructure and also
touch on social infrastructure, including hospitals. We
will also help government to procure goods and services
such as books, computers and medical equipment. So, this
provides a vast opportunity for any company that
qualifies to be able to participate in the projects,"
The seminar was hosted by the Department of Trade and
Industry through its division, Trade Invest Africa
The purpose of the seminar that was held in Sandton,
Johannesburg, was to provide a platform for the group to
share information on how it works with the private
sector in partnership with governments, as well as its
private-sector financing vehicles.
Acting Chief Executive Officer of TIA, Lerato Mataboge,
said the seminar was in line with the division's mandate
of assisting South African businesses to access
investment and trade opportunities in various parts of
the African continent.
"It was essential for us to partner with the World Bank
Group for this seminar so that companies would get
directly from the bank's officials the projects that are
available and what the requirements and processes that
they need to follow are. We are hoping that most of the
companies in attendance here will be able to get slices
of the US$45-billion cake," said Mataboge. ¡V Source: