The Industrialisation Fund for Developing Countries (IFU) invested more than DKK 175m in 17 companies in Africa in 2008. This is the highest number of investments ever made by IFU in a single year in Africa – both in terms of the amount and by the number of investments.
– In recent years, we have focused increasingly on Africa, and reaching a level in 2008 where investments in Africa made up 40 per cent of our total investments is very satisfying, says Managing Director Finn Jønck.
– We see good business opportunities for Danish companies in Africa. We will continue to focus on these opportunities in 2009 by opening a new regional office in Ghana, among other things, says Finn Jønck.
Continuing the high level of investment in 2008
In 2008, IFU contracted investments for a total of DKK 451m in 57 companies in developing countries. Just over DKK 320m was invested in 36 new companies, while additional financing to existing projects amounted to almost DKK 130m. IFU recorded a profit of DKK 106m in 2008.
– Taking the financial and economic crisis into account our results are satisfactory. The level of investments in 2008 was the same as in 2007, and our financial results still show a profit, albeit smaller than in 2007, says Finn Jønck.
– The crisis also affects the developing countries, and even though the economic forecasts show continued growth in most developing countries, we still expect a difficult year ahead of us, and that our financial results for 2009 will come under severe pressure.
IFU invests in collaboration with Danish companies, contributing only part of total investments. In 2008, total expected investments in new companies amounted to almost DKK 5.8 billion, and expected direct employment was at just over 4,000 new jobs.
– This means that in 2008, once again, our investments contributed to promoting the economic and social development of the countries where we invest. I am pleased with that, and it shows that it is possible to do business and at the same time help improve the conditions of people in the poor countries, says Finn Jønck.
For further information, please contact Rune Nørgaard, Head of Communications,
tel +45 33 63 75 60