Project profile — Canada Investment Fund for Africa

Results as of March 2012 include: The Canada Investment Fund for Africa (CIFA) has fully closed out its investment in five of the companies and has partially closed out investments in another five companies and the two funds for small and medium-sized enterprises (SMEs), generating returns of capital and profits to Canada in excess of $30 million. The remaining CIFA investments are still recovering from the effects of the global financial crisis. The market value of remaining Canada’s investment in CIFA was US$45 million as of March 31, 2012. CIFA investments continue to achieve development results such as introducing new financial products for SME development, introducing new technologies in production sectors, and promoting corporate social responsibility measures in infrastructure development, health, and education in local communities affected by extractive and mineral sector investments. These results are contributing to the creation and development of long-term viable businesses that have sustainable economic and social benefits, such as: sustainable job creation, improved infrastructure, long-term mobilization of capital, technology transfer, increased tax revenues, increased foreign exchange, and improved business practices.