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Ghana Formally Joins Africa Finance Corporation

Country becomes pan-African institution's seventh member

Ghana is now the seventh African nation to become a member of the Africa Finance Corporation (AFC), joining host country Nigeria, Guinea-Bissau, Sierra Leone, The Gambia, Liberia and Guinea.

The Ghanaian Parliament, yesterday, formally approved a resolution ratifying the AFC Agreement and the country's request to join the pan-African organisation. Parliament also approved a resolution for Ghana to subscribe for shares in the institution.

First Deputy Speaker Edward Doe Ajaho, who chaired the session in Parliament, said Ghana was pleased to join its sister African nations that had already become members of the Africa Finance Corporation. "Clearly, Africa's area of greatest need today is infrastructure development and AFC is well positioned to help fill the void in this important area. My country welcomes the opportunity to lend our support to AFC's efforts in bridging the dire infrastructure investment gap on our continent. Ghana is one of the countries that supported the establishment of AFC from the very beginning. We are therefore exceedingly happy that the country has today finally become a formal member of the organisation." Mr. Ajaho commended Ghanaian Members of Parliament for supporting the resolution.

Speaking to senior parliamentary and government officials on behalf of AFC's President and Chief Executive Officer Andrew Alli immediately after the proceedings, the corporation's Executive Director and General Counsel, Adesegun Akin-Olugbade, expressed his organisation's appreciation to the Government of Ghana for the confidence reposed in the institution. "We are delighted to welcome Ghana as a formal member of AFC. Ghana is not only a country in which we have a number of active projects, but also one whose continued involvement in helping to champion African development makes it an invaluable player in the vision and mission of our organisation. As more and more countries come on board, AFC can only grow from strength to strength as the African conceived and African led institution that it is. It is truly a reflection of Africa looking within itself to facilitate and consolidate development."