IV. B. Private Investors: THE ROLE OF THE PRIVATE SECTOR

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References: Stock Market Development in Sub-Saharan Africa - By International Monetary Fund

While the deals of Chinese state-owned oil companies such as CNPC, CNOOC, and
SINOPEC in Angola, Equatorial Guinea, Nigeria, and Sudan caught headlines, millions of
U.S. dollars were being invested by Chinese private enterprises in Africa with little fanfare
(Box 1). These investments are not confined to textiles and mining. They cover a variety of
services from agriculture to processing and manufacturing.

Differentiating between the FDI of China’s state-owned and of its private enterprises is
becoming more difficult—and less meaningful. As the Chinese government restructures and
sells shares in state-owned enterprises, the exact shareholder structure of many large Chinese
companies becomes harder to ascertain. These companies have considerable operational
autonomy and increasingly base their investment decisions on profitability considerations.
Moreover, the government has been actively encouraging private firms, small and medium as
well as large, to invest in Africa. The differences between state and private enterprises in
access to state-supported financing have also been progressively reduced. In 2005 China and
the UN Development Program together established the China-Africa Business Council to
promote private Chinese businesses in Cameroon, Ghana, Mozambique, Nigeria, South
Africa, and Tanzania.

IMF Working Paper
African Department
What Drives China’s Growing Role in Africa?
Prepared by Jian-Ye Wang
October 2007

Determining if a Business Plan or Regulation D PPM is your best option.

Thinking Like an Investor

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National Research Council NRC refocus. More politics than fact?

Who Should Use a Regulation D Private Placement

AfriCap Microfinance Fund Attracts Notable Investors Including Nordic MicroCap, BlueOrchard and Gray Ghost, Raises Capital to $50m

6.3 Financial sector links between investment and diversification: Economic Report on Africa 2007

IV. A. Private Traders: THE ROLE OF THE PRIVATE SECTOR

SME's - do you want business from government?

REVIVE AN ECONOMY… THE ANSWER LIES WITH THE PRIVATE SECTOR

Defining “Hard Money”

PRIVATE MONEY IS THE WAY TO GO

Do I Offer Debt or Equity to Raise Capital

5.2 Structure for implementing the SME Development Policy: Support for Growth-oriented Women Entrepreneurs in Tanzania, 2005

A Limited Impact on Private Sector Development

Ugandan Government Initiative to Subsidise Solar Power Equipment by 45% to be Implemented by Rural Microfinance Institutions (MFIs)

7.3.4 Labour market reform: Mainstreaming skills development for the poor

Cashing out, but staying in

Are You Raising Funds For Your Business Legally?

As the Economy Changes so are the Ways Funding has Changed!

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The IMF is an international organization of 185 member countries. It was established to promote international monetary cooperation, exchange stability, and orderly exchange arrangements; to foster economic growth and high levels of employment; and to provide temporary financial assistance to countries to help ease balance of payments adjustment. Since the IMF was established its purposes have remained unchanged but its operations—which involve surveillance, financial assistance, and technical assistance—have developed to meet the changing needs of its member countries in an evolving world economy.
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IV. B. Private Investors: THE ROLE OF THE PRIVATE SECTOR

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