Africa Finance Corporation
AFC is an African-led multilateral development finance institution, established in 2007 with its headquarters in Lagos, Nigeria. Its mission is to support and enhance economic growth in Africa through developing quality infrastructure in the region. AFC’s role includes; key advisor, investor, developer and financier of infrastructure projects, gaining increasing recognition as a benchmark institution for development of infrastructure in Africa.
AFC has a unique proposition which brings together deep sector expertise, global collaboration, financial syndication, treasury solutions, debt and equity capital along with a commercial mind-set to jointly work with the private sector and African governments to deliver an African-led solution to the continent’s infrastructure challenge.
This hitherto unprecedented yet pragmatic approach to working with the public and private stakeholders alike, makes complex multi- country infrastructure project initiatives feasible, bankable and investor friendly.
AFC’s current authorized share capital is USD2.0 billion with shareholders’ funds of USD1.35 billion. To date, AFC has invested more than USD3.2 billion in projects across 24 African countries.
AFC is the second highest investment grade-rated multilateral financial institution on the African continent, with an A3 (long term) / P2 (short term) foreign currency debt rating by Moody’s Investors Service. This rating was first issued in March 2014 and was then reaffirmed in April, 2015.
To execute its mandate effectively, AFC has established partnerships regionally with institutions such as the African Development Bank, African Export-Import Bank, PTA Bank, Islamic Development Bank, Banque Ouest Africaine de Developpement, East African Development Bank, and international with organisations such as the China Africa Fund, the Infrastructure Development Finance Company of India (IDFC), Dutch development bank FMO and the US Government through USAID and the US Presidential “Power Africa Initiative”.
In addition, AFC currently has 14 members: Nigeria, Ghana, Guinea Bissau, Sierra Leone, The Gambia, Liberia, Guinea Conakry, Chad, Cape Verde, Gabon, Côte d’Ivoire, Rwanda, Kenya and Uganda. AFC benefits from preferred creditor status and tax exempt status, among other advantages, when operating within a member’s borders, allowing the corporation to provide more competitive financing solutions.
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