The International Finance Corporation (IFC) has appointed Jean Philippe Prosper as vice-president of Sub-Saharan Africa, Latin America and the Caribbean.
Based in Johannesburg, he will oversee the IFC’s investment and advisory services operations in 79 countries, handling a combined investment portfolio of US$17bn and advisory services programmes worth US$286mn in total.
Before this appointment, Prosper was the IFC’s director for Latin America and the Caribbean. From July 2008 to August 2012, he was the director for Eastern and Southern Africa and a co-director of the Africa department. During his time at the Africa department, the IFC’s investment on the continent grew from US$140mn in 2003 to US$4bn in 2012.
Prosper also has experience at the Inter-American Investment Corporation – part of the Inter-American Development Bank; Sofihdes – a private development finance company in Haiti; the State University of Haiti and the ministry of Haiti on financial, economic, and industrial affairs.
He comments: “Our activities in Latin America and the Caribbean and Sub-Saharan Africa are critical to the IFC’s global business and we will build on our success in these regions to have a more significant impact on poverty elimination through private sector development.”
In Africa, Prosper explains that the IFC aims to further grow its investment and advisory services, “especially in fragile and conflict-affected states and through regional and national projects that have potential to positively transform development in Africa”.