Identifier
Created
Classification
Origin
09NIAMEY29
2009-01-26 16:54:00
UNCLASSIFIED
Embassy Niamey
Cable title:
NIGER COMMENTS ON PROPOSED OPIC SUPPORT TO ECP AFRICA FUND
how-toVZCZCXYZ0008 RR RUEHWEB DE RUEHNM #0029 0261654 ZNR UUUUU ZZH R 261654Z JAN 09 FM AMEMBASSY NIAMEY TO RUEHC/SECSTATE WASHDC 4811 INFO RUEHC/USTR WASHINGTON DC RUCPDOC/DEPT OF COMMERCE WASHINGTON DC
UNCLAS NIAMEY 000029
SIPDIS
E.O. 12958: N/A
TAGS: EINV EFIN ETRD OPIC USTR NG
SUBJECT: NIGER COMMENTS ON PROPOSED OPIC SUPPORT TO ECP AFRICA FUND
III PCC
REF: STATE 05207
UNCLAS NIAMEY 000029
SIPDIS
E.O. 12958: N/A
TAGS: EINV EFIN ETRD OPIC USTR NG
SUBJECT: NIGER COMMENTS ON PROPOSED OPIC SUPPORT TO ECP AFRICA FUND
III PCC
REF: STATE 05207
1. Post views proposed OPIC support to the Emerging Capital Partners
(ECP) Africa Fund III PCC as supportive of economic development in
the ECOWAS region.
2. With the exception of the mining sector, companies based in Niger
are unlikely to benefit directly from this type of private equity
funding due to their small size and lack of transparency. However,
previous ECP Africa Fund investments include several regional
companies with operations in Niger. These companies, Cote d'Ivoire
Air, BIA, Celtel, and Ecobank, facilitate commercial activity in the
region and sustain economic growth in Niger.
3. There is a critical need for private sector capital in regional
markets due to the absence of other types of funding. Additionally,
the potential for private capital funding and the careful review of
corporate management that accompanies such funding serve as a
valuable incentive to raise standards of management in the private
sector.
4. Post has no information about the local reputation of Emerging
Capital Partners.
ALLEN
SIPDIS
E.O. 12958: N/A
TAGS: EINV EFIN ETRD OPIC USTR NG
SUBJECT: NIGER COMMENTS ON PROPOSED OPIC SUPPORT TO ECP AFRICA FUND
III PCC
REF: STATE 05207
1. Post views proposed OPIC support to the Emerging Capital Partners
(ECP) Africa Fund III PCC as supportive of economic development in
the ECOWAS region.
2. With the exception of the mining sector, companies based in Niger
are unlikely to benefit directly from this type of private equity
funding due to their small size and lack of transparency. However,
previous ECP Africa Fund investments include several regional
companies with operations in Niger. These companies, Cote d'Ivoire
Air, BIA, Celtel, and Ecobank, facilitate commercial activity in the
region and sustain economic growth in Niger.
3. There is a critical need for private sector capital in regional
markets due to the absence of other types of funding. Additionally,
the potential for private capital funding and the careful review of
corporate management that accompanies such funding serve as a
valuable incentive to raise standards of management in the private
sector.
4. Post has no information about the local reputation of Emerging
Capital Partners.
ALLEN