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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