The World Bank has announced an expanded Private Sector Investment Lab (PSIL), bringing together prominent business leaders including Africa’s richest man Aliko Dangote to accelerate job-creating investments in developing countries. The new phase shifts focus from identifying barriers to implementing practical solutions across key sectors.
New Members Joining the Initiative:
- Aliko Dangote, President/CEO of Dangote Group (Africa’s largest industrial conglomerate)
- Bill Anderson, CEO of Bayer AG (global pharmaceutical and agribusiness leader)
- Sunil Bharti Mittal, Chairman of Bharti Enterprises (telecommunications pioneer)
- Mark Hoplamazian, President & CEO of Hyatt Hotels Corporation (hospitality sector representative)
Five Priority Areas for Implementation:
- Regulatory and Policy Certainty – Creating stable frameworks for long-term investments
- Risk Mitigation Instruments – Expanding guarantees to address political and credit risks
- Foreign Exchange Solutions – Tackling currency volatility challenges
- Equity Scaling Models – Developing new approaches for emerging market investments
- Institutional Investment Channels – Creating liquid markets to attract pension and sovereign wealth funds
World Bank Group President Ajay Banga emphasized the practical approach: “This isn’t about altruism. It’s about showing the private sector clear paths to profitable investments that simultaneously lift economies and create jobs.” The Lab will work directly with World Bank country operations to implement proven solutions.
Sector Focus for Job Creation:
The expanded membership reflects industries with high employment potential:
- Infrastructure and energy (leveraging Dangote’s experience with large-scale industrial projects)
- Agribusiness (building on Bayer’s work with smallholder farmers)
- Healthcare (expanding access to medicines and health services)
- Tourism and hospitality (developing Hyatt’s model in emerging markets)
- Manufacturing and telecommunications
African Perspective and Impact:
Dangote’s participation is particularly significant for Africa, which faces a projected 100 million job deficit by 2030. His $20 billion refinery project in Nigeria serves as a model for how industrial investments can generate massive employment.
Background and Next Steps:
The PSIL was launched 18 months ago with financial institution leaders identifying investment barriers. This new phase moves to implementation:
- Country-specific action plans will be developed by third quarter 2025
- Initial pilot projects will launch in Nigeria, Indonesia and Colombia
- Progress will be regularly reported to G20 finance ministers
Original Lab members from major financial firms including BlackRock, HSBC, and Standard Chartered will now collaborate with the new industry leaders. The initiative comes as developing nations require an estimated $2.4 trillion annually to meet Sustainable Development Goals.
Key Statements:
“Connectivity transformed emerging markets through mobile technology. We aim to replicate that success across other sectors,” said Sunil Bharti Mittal, highlighting telecommunications’ role in economic development.
Bill Anderson of Bayer noted, “True healthcare innovation must reach clinics in Nigeria and villages in India to make an impact.” While Dangote’s team stated, “Our refinery project created 200,000 jobs. This Lab can multiply that effect across Africa.”
The World Bank’s approach represents a significant shift from theoretical frameworks to practical, large-scale implementation, aiming to bridge the persistent gap between development needs and private sector investment in emerging economies.
