Public-private partnerships in Africa and sub-Saharan economic growth has partially as a result of Ecobank Transnational Incorporated. IFC investment in Ecobank has helped increase access to credit for entrepreneurs and SMEs in Sub Saharan African Countries. Additionally, IFC maintains its strong commitment to the development of the Sub Saharan African Region. IFC is contributing to the development of sub-Sahara Africa by continuing to invest in other projects in the countries. IFC is the largest global development institution focused on the private sector in emerging markets. The company works with more than 2,000 businesses worldwide. Using their capital, expertise, and influence, the company promotes public-private partnerships in Africa and sub-Saharan economic growth.
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ASSESSING PUBLIC-PRIVATE PARTNERSHIPS IN AFRICA
South Africa has the highest cumulative experience of public-private partnerships in Africa since 1994. The experience is because of 50 partnerships at the national or provincial level and 300 projects at the municipal level. South Africa has developed a PPP manual and Standardized PPP Provisions to guide all projects. In theory, PPPs may have the potential to promote the development of sub-Saharan Africa. Reports on the record of PPPs in Africa over the last 15 years have mixed and the process complex. Governments should therefore not expect PPPs to be a magic bullet. PPPs allow governments to retain ownership while contracting the private sector to perform a specific function. PPPs, thus increase efficiency for public-private partnerships in Africa and sub-Saharan economic growth.
DEVELOPING COORDINATED PPP FOR FINANCING HEALTH DEVELOPMENT OF SUB-SAHARAN AFRICA
Public-private partnerships in Africa and sub-Saharan economic growth is evolving to not only financing economic development but health development. A robust technical consensus exists that unregulated private health markets suffer from various forms of market failure. The forms of market failure are ultimately harmful to the general welfare. sub-Saharan economic growth gets thwarted when competitive private insurance markets exclude sicker people from coverage. PPPs have enabled their application within health systems to activate their role in achieving universal health coverage (UHC). Countries have embraced the heterogeneity of the health systems and adopted holistic strategies that combine public and private schemes. The role of the PPPs in health systems will improve the overall development of sub-Saharan Africa.
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