OPIC President and CEO Visits South Africa to Promote American Investment
July 18, 2018
(OPIC)
JOHANNESBURG, SOUTH AFRICA - Overseas Private Investment Corporation (OPIC)
President and Chief Executive Officer Ray W. Washburne visited South Africa this
week where he met with local banks to discuss investment opportunities to
advance development in the country and highlight OPIC-supported projects. It’s
the third stop on a six country trip to promote U.S. investment in the region,
strengthen partnerships, and find opportunities to work with regional allies on
projects that drive economic growth and stability throughout the region.
Among the projects Washburne visited was OPIC-supported SA Taxi which provides
loans to entrepreneurs operating minibuses in South Africa. The minibuses are a
key part of the South African transportation sector where approximately 67
percent of all travel in South Africa is on a minibus. Each vehicle is a small
business which supports the operators, their families and their communities.
Washburne met with a number of innovative American businesses and investors
including Infrasalience, a company established by American entrepreneurs. The
company has developed mobile green chemical plants which profitably transforms
air pollution and waste water into sustainable green chemicals. By establishing
a process to recycle and reuse industrial and infrastructure waste while
simultaneously creating jobs, the company is helping to bring American ingenuity
and business values to emerging markets.
Washburne is traveling to Africa to explore investment opportunities and to
highlight OPIC's new Connect Africa initiative to invest more than $1 billion in
transportation, technology and value chains on the continent. Earlier this
month, Washburne earlier traveled to Zambia and Rwanda where he visited American
coffee processing facilities and met with heads of state. His travel on the
continent will continue to Botswana, Uganda, and Kenya where he will meet with
senior government officials and visit OPIC supported projects.
Africa is a longstanding priority for OPIC and accounts for about one-quarter of
the agency's $23 billion global portfolio.
As part of his National Security Strategy, President Trump highlighted the need
for a modernized approach by the U.S. government to development finance to help
grow aspiring partners, promote economic relationships, and increase investment
in regions important to American interests.
Learn more about OPIC's Connect Africa Initiative
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