South Africa Private Sector Competitiveness Project (IFC-602710)

Countries
  • South Africa
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Active
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
U
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Dec 20, 2017
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
*Borrower information not provided at the time of disclosure*
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Industry and Trade
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Advisory Services
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Project Cost (USD)
$ 3.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Feb 14, 2019

Disclosed by Bank Oct 31, 2018

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

South Africa Private Sector Competitiveness Project (PSCP) is one of a number of projects in a Program developed upon request of the Government of South Africa. The Program seeks to address key investment climate and structural challenges facing the South African economy such as poor regulation, government interventions that do not provide firms with the ability and incentives to enter and compete, and negative investor perceptions. The Program is fully aligned with the 2018 South Africa Strategic Country Diagnostics (SCD) and will seek to contribute to addressing the unemployment and poor economic growth that South Africa's National Development Plan (NDP) 2030 identifies as principal development challenges. The project will aim at addressing key investment and growth challenges by focusing on a number of horizontal and vertical sectoral reforms with special attention to SMEs. The Project will be further calibrated to reflect findings from the Country Private Sector Diagnostics (CPSD) and the Enterprise Survey (ES) both of which will identify sector specific investment opportunities and obstacles.

The project will achieve its objectives by :

  1. Addressing government interventions that hinder competition in key markets in South Africa and promoting competition policies to combat anticompetitive business practices ;
  2. Addressing investment policy and promotion constraints at the subnational level and promoting more robust and focused investment strategies;
  3. Tackling key horizontal and sectoral business climate constraints and barriers to transparency, predictability, and efficiency, to increase investment; and
  4. Conducting surveys and diagnostics to inform future policy for South Africa that support SMEs and investments.
Investment Description
Here you can find a list of individual development financial institutions that finance the project.

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

*Contact information not provided at the time of disclosure*

ACCOUNTABILITY MECHANISM OF IFC

The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/

How it works

How it works