News

Lagos, 15 November 2024 – With a mission to scale investment in Africa, a new collaboration between Africa Finance Corporation (AFC), the continent’s leading infrastructure solutions provider, and the Japan Institute for Overseas Investment (JOI), established by the initiative of the Japan Bank for International Cooperation (JBIC), is set to embark on a series of initiatives to facilitate capital flows.

Lagos, 12 November 2024 – Africa Finance Corporation (AFC), the continent’s leading infrastructure solutions provider, has facilitated a landmark US$200 million corporate finance facility for the BUA Group, a prominent Nigerian conglomerate spanning food, infrastructure, mining and manufacturing sectors.

Washington DC, 28 October 2024- The Saudi Export-Import Bank (Saudi EXIM) and Africa Finance Corporation(AFC), Africa’s leading infrastructure solutions provider, have signed a Memorandum of Understanding (MOU) to collaborate on initiatives to boost exports in both the Kingdom of Saudi Arabia and AFC’s member countries.

Lagos, 10th October 2024 -Africa Finance Corporation (AFC), the continent’s leading infrastructure solutions provider, yesterday announced that it acted as a Joint Lead Manager for the successful pricing of a US$400 million 10.125% Note by Ecobank Transnational Incorporated (ETI). This 5-year offering, which is due on 15 October 2029, was offered in RegS/144A format. The net proceeds from the issuance of the Notes will be used by ETI for general corporate purposes.

Dubai, 02 October 2024 — ARISE IIP, a leading pan-African developer and operator of world-class industrial parks, has announced a significant capital raise of US$443 million. The funding includes a strategic US$300 million investment from Afreximbank’s development impact investment arm, The Fund for Export Development in Africa (FEDA), securing Afreximbank’s FEDA a significant stake in ARISE IIP. Additionally, the capital raise is supported by an additional US$143 million contribution from Africa Finance Corporation (AFC). This investment builds on debt funding relationship of over 12 years between ARISE IIP and Afreximbank, during which about US$2 billion has been provided to support ARISE IIP’s investments across Africa.

Lagos, 2nd October 2024 - Africa Finance Corporation (AFC), the continent’s leading infrastructure solutions provider, today announced an outstanding return to the global debt capital markets, successfully issuing a US$500 million 144A/Reg S Eurobond. The benchmark five-year Note, issued at par with a coupon of 5.55%, had a negative concession with pricing inside the Corporation’s outstanding yield curve, resulting in the tightest T-spread ever achieved by AFC on a 5-year US dollar benchmark and enabling AFC to broadly reset its yield curve in the secondary market. The issuance generated significant interest across Europe, Asia, United States, and the Middle East, resulting in a peak book that was over two and a half times oversubscribed.

New York, September 27, 2024— Itana, Nigeria’s first licensed digital economic zone management company, and Africa Finance Corporation (AFC), the continent’s leading infrastructure solutions provider, have agreed to jointly develop the first digital economic zone in Africa designed for global and Pan-African technology, finance and service-based businesses to operate and scale with ease across Africa, unlocking the continent’s digital economy. The formalisation of this partnership took place in front of global government and business leaders, at the Global Africa Business Initiative (GABI), on the sidelines of the ongoing United Nations General Assembly (UNGA) in New York.

Lagos, 26th September 2024 - Africa Finance Corporation (AFC), the continent’s leading infrastructure solutions provider, today announced that it has received an uplift to its credit ratings outlook from Moody’s Investors Service, with the assignment of a “stable” outlook.

New York, 25th September 2024 - In a significant milestone for the Zambia Lobito Rail Project, Africa Finance Corporation (AFC), the continent’s leading infrastructure solutions provider, has signed concession agreements with the governments of Angola and Zambia for the financing, construction, ownership and operation of the transformational railway project.

Lagos, 11th September 2024: Africa Finance Corporation (AFC), the continent’s leading infrastructure solutions provider, today announced the issuance of an inaugural domestic dollar bond from the Federal Government of Nigeria (FGN), raising US$900 million and marking a significant milestone in the country's economic development.

A connected Africa will be a rich Africa: AFC President & CEO Samaila Zubairu writing in African Business Magazine explores the data that reveals an essential truth – Africans are deeply invested in their continent, seeking opportunities at home rather than abroad.

Africa Finance Corporation (AFC), the continent’s leading infrastructure solutions provider, is arranging a project development facility to support Africa’s largest gas-to-methanol plant, with the aim of significantly reducing CO2 emissions by offsetting flaring of natural gas and turning it instead into a valuable chemical for solvents, paints, plastics and car parts.