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World Bank to back content companies

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Encouraged by the transformative impact that telecommunications, particularly cellular networks, have had on developing countries in Africa and elsewhere, the World Bank's private-sector investment arm plans to expand the scope of its investments to include content providers.

The move to invest in content companies comes as part of a shift to invest more broadly in technologies and applications that help spur economic and social development. In recent years, the mobile telecommunication sector in Africa has proved to be very profitable, with high financial returns for operators and investors. Moreover, the networks have been a boon for the citizens of many African countries.

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