IFC Helps Boost Economic Growth, Employment in East Africa

The International Financial Corp. is investing $10 million in Catalyst Fund I LLC to help accelerate economic growth and boost employment in East Africa. IFC’s investment will be used to help emerging and midsize companies in the region gain better access to equity financing. Catalysts Principal Partners, the Kenya-based private equity firm that manages the fund, has already raised $70 million from various investors such as the African Development Bank and the Commonwealth Development Corporation.

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About the author

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    Ivy Mungcal

    As former senior staff writer, Ivy Mungcal contributed to several Devex publications. Her focus is on breaking news, and in particular on global aid reform and trends in the United States, Europe, the Caribbean, and the Americas. Before joining Devex in 2009, Ivy produced specialized content for U.S. and U.K.-based business websites.