The Africa Finance Corporation (AFC) is a supranational institution established by treaty between member states. In addition, the AFC’s members also include corporate entities such as major commercial banks and financial institutions, other private sector commercial banks and financial institutions.

The AFC currently has 26 states and two multilateral organisations as members, in which it has preferred credit status in these countries, and receives preferential access to foreign currency, has tax exempt status, and is immune from confiscation of its assets.

AFC Membership
Current African Member states include: 

Nigeria (host country), Benin, Eritrea, Gabon, Ghana, Guinea-Bissau, The Gambia, Sierra Leone, Uganda, Rwanda, Liberia, Guinea Conakry, Côte d’Ivoire, Chad, Djibouti, Cape Verde, Kenya, Madagascar, Malawi, Mauritania, Mauritius, Namibia, Senegal, Togo, Zambia and Zimbabwe.

Current Multilateral Organisation member(s) include:

African Reinsurance Corporation
African Development Bank Group.

Benefits of joining AFC
  • Access to lower cost of debt  on  infrastructure projects due to the “Preferred Creditor Status” conferred by AFC on its Member Countries
  • Access to AFC’s Project Development expertise
  • Access to AFC’s partner network which includes an extensive list of lenders, investors, co-investors, project sponsors, and project development companies and institutions
  • Distributions & Dividends; where a country elects to be shareholder
  • Board representation; where a country has subscribed and paid for at least 50 million shares

Step by step guide to joining AFC
Membership of AFC is open to African States (preferably through their respective Central Banks, Sovereign Wealth Funds, State Pension Funds or similar institutions).
Shareholding is open to member states, regional and sub - regional development financial institutions), private and public sector institutional shareholders (private banks, insurance companies, pension funds, and other corporations).
I. Membership Only 
A prospective Member State may join the AFC by signing the Letter of Adherence, and ratifying the constitutive instruments of AFC, namely the AFC Establishment Agreement and the Charter through its cognitive/constituent authority. A copy of AFC’s Charter and Establishment Agreement is available upon the submission of a non-binding expression of interest letter to become a Member of AFC.
II. Membership & Shareholding 
Member States are not required to make a financial commitment and or investment before joining the AFC. Member States may elect to make financial commitment/ investment and become shareholders through their designated entities (Central Banks, Sovereign Wealth Funds and State Pension Funds or regional or sub­ regional development financial institutions) at any time convenient to the member country.