Osam Iyahen is Director of Natural Resources at Africa Finance Corporation (AFC)
Africa Finance Corporation (Lagos)
Breaking Africa's "Resource Curse" Through Eco-System Investing
Though Guinea-Cornakry has a stable political leadership and has made positive strides, the resource-rich country, writes Osam Iyahen, Director of Natural Resources at Africa Finance Corporation (AFC), has remained trapped in what is frequently described as the "'Resource Curse'; where such an abundance of natural resources can act more as a brake to socio-economic development to a developing country, rather than as a catalyst for broad-based prosperity." To connect resource-based projects to broad-based prosperity, AFC's maiden investment in Guinea-Conakry's Bel Air high-grade bauxite mine also included investments in 40 community projects. This "eco-system investing approach," Iyahen argues, "focuses on maximising the development impact of its investments by diversifying growth leading projects away from the often-insular natural resources sectors." Read more.
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AFC’s investment in the the Bel Air high-grade bauxite mine also included investments in 40 community infrastructure projects in power, water, and waste management sectors, as well as the first seaport to be built onshore in West Africa in the last two decades. AFC’s eco-system investing approach therefore focuses on maximising the development impact of its investments by diversifying growth leading projects away from the often-insular natural resources sectors. This wholesale approach that seeks to invest in every step of the value chain, not only increases the investment impact of the project, but also improves profitability.
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