This follows the bank’s results announcement which show a net profit of 404 million United States Dollars with a mandate to promote economic growth, human capacity building and sustainable development across the continent. It also provided $3.8 billion in infrastructure support.

 

“Africa's need for infrastructure development and economic development in Africa is not only crucial, but also a pressing necessity. We are here to promote economic development, growth, human and institutional capacity, building sustainable development project and programs in the African continent.” said Mosako.  

Although profit is down 11% compared to the previous year, South Africa's Deputy Finance Minister David Masondo also praised the lender for making an impact in the region and promised to create a conducive environment for entities like.  “One of the things we do is to make sure that we place the right people in the right positions , that's why they are performing well and broadly as government what we are doing in growing the economy is to supply side constraints on our economy , telecommunication, water, freight logistics because for us to grow the economy, we need businesses to invest”, said Masondo

Musako also highlighted the importance of the strength of the bank for the region.  “DBSA is important because that is the foundation of the bank to execute on its mandate and execute on its strategy in accelerating infrastructure development and making sure that there is a mobilization oof funds as well, to attract capital.

--Channel Africa--