Improving Governance in Africa

What are the Bank's policies for equity investments? The Bank applies pre-defined eligibility criteria to select suitable operations that maximize its catalytic impact, guided by the principles of development effectiveness. Objectives: In addition to the financial return for the Bank, Equity Investments are aimed at promoting: (a) local ownership of productive enterprises; (b) efficient use of resources; (c) regional economic cooperation and integration; (d) entrepreneurial risk-taking in economic sectors of emerging importance, with a view to diversifying and modernising national or sub-regional economies; (e) best-practice standards in corporate governance, business management, and corporate responsibility as a mean to strengthen the competitiveness of Africa's medium and large scale enterprises; and (f) the mobilisation of domestic, regional and foreign direct investment resources in pivotal sectors of the economy such as socio-economic infrastructure, manufacturing, agribusiness and food security, and financial sector development. Eligibility: Non-sovereign operations can be implemented in any of the Regional Member Countries eligible to be considered for Bank investments; All economic sectors and sub-sectors are eligible for Bank investments, except: Production of alcoholic beverages, tobacco, and luxury consumer goods - Production or trade in weapons, ammunition and other goods used for military or paramilitary purposes - Production, trade in, or use of nuclear reactors and related products, asbestos fibres, harmful substances - Trade in wildlife or wildlife products regulated under international conventions (CITES) - Speculative trade or investment in platinum, pearls, precious stones, gold and related products - Gambling, casinos and equivalent enterprise - Use of logging equipment in unmanaged primary tropical rainforests - Economic activities involving harmful or exploitative forms of forced labour and/or child labour Production or trade in any product or activity deemed illegal under host country laws or regulations or international conventions and agreements. - 76

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