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18 October 2002.

DANISH INVESTMENT FUND OPENS REGIONAL OFFICE IN JOHANNESBURG

The Danish investment fund IFU (the Industrialization Fund for Developing Countries) has opened a regional office in Johannesburg in August 2002.

The Danish investment fund IFU (the Industrialization Fund for Developing Countries) has opened a regional office in Johannesburg in August 2002. IFU has already participated in 17 investments in South Africa in cooperation with private Danish and South African companies and is expecting an increasing activity in South Africa in the coming years.

IFU’s office in Johannesburg will assist Danish companies in carrying through investments in the entire SADC region.

Since 1996, IFU has made a special effort to single out profitable investment possibilities for Danish companies in Sub-Saharan Africa.
The regional office in Johannesburg is headed by Niels Evendt, who has previously worked as IFU’s regional representative in South America.

Mr. Evendt is assisted by Tayengwa Masawi who has a university degree in economics. Mr Masawi has worked for IFU for five years both at the regional office in Harare (now relocated to Johannesburg) and at the head office in Copenhagen.

“The development in Southern Africa shows that IFU’s regional office should be placed in Johannesburg. Danish companies are showing a great interest in the transformation process of the South African business to international standards”, says Sven Riskær, Managing Director of IFU.

The official inauguration of the office in Johannesburg will take place on October 24 in connection with the visit from Denmark of Mr. Sven Riskær.

For further information, please contact Niels Evendt, tel. +27 11 325 19 40 or e-mail ifujnb@ifu.co.za.