The Financial Advisory Department provides financial and technical advice to public and private sector clients across Africa, in the areas of infrastructure project development, transaction management, policy formulation and implementation, project financing, mergers, acquisitions, fund management and corporate restructurings.

The suite of advisory services offered cover the Corporation's core areas of operational strength: project concept and development, technical appraisal, investment structuring, capital raising and portfolio monitoring. In this capacity, the Corporation offers proven expertise and relationships in these crucial areas to a select number of public and private clients in Africa.

The Corporation also partners with a broad range of international and local institutions focused on Africa, with a view to delivering high quality advisory input to sponsors, governments and corporate groups that are seeking to develop significant infrastructure projects in Africa.
Key projects have included advice and capital raising services for governments, private sponsors and state-owned enterprises working on transformational infrastructure projects in Nigeria, Guinea, Cote d'Ivoire, Rwanda, and Djibouti, as well as large multinational corporations undertaking, or seeking to enter into, large infrastructure investments in several African countries. 

Recent milestones include advisory services to a private sector UAE-based Sponsor in the development and financing of a storage terminal, a captive 12,000 barrels per day modular petroleum refinery as well as ancillary infrastructure including a jetty and a pipeline to be located in Kamsar, Guinea. AFC has been providing support to the Sponsor, providing project finance advice, developing last mile project development activities required for lenders and equity investors, securing project development finance for the project and is currently in the process of raising the required financing of up to US$350 million to implement the project.
 
In Rwanda, we are providing ongoing advice to a public private partnership entity in the project development and funding for a greenfield international airport to be located in the Bugesera district of Rwanda, in which Qatar Airways recently agreed to acquire a 60% stake. At a minimum, this project alone will create 1,500 jobs during construction and result in an additional 2,000 employees after commissioning. The new airport will improve throughput capacity in the country and play a key strategic role in boosting tourism and foreign direct investments, helping to drive Rwanda towards becoming a middle-income economy.
 
In Djibouti, the Corporation is advising the Djibouti Port and Free Zone Authority on a variety of financial transactions. These include a US$63 million strategic investment to construct and operate a 60MW wind project in the Ghoubet area, near Lake Assal in Djibouti. The Corporation has made this investment as lead developer, inviting further investment from Climate Fund Managers (“CFM”), FMO, the Dutch entrepreneurial development bank, and Great Horn Investment Holdings (“GHIH”). AFC has led the project since 2017, developing it from concept to bankability, securing a 25-year take or pay power purchase agreement with Électicité de Djibouti as the offtaker, and a land lease agreement with the Government of Djibouti. The wind project is expected to begin commercial operations in 2022.

In the same country, AFC is also supporting the development of a greenfield world-class ship repair facility, which is expected to assist in retaining significant local content and expertise within the fast-growing country. AFC advisory services are helping to fast track the project development and financing process, which is supported by strong international construction and financing expertise, designed to further diversify and industrialize the economy.
 
In Nigeria, AFC continues to lead an ongoing assignment to assist the Central Bank of Nigeria (CBN) and the state-owned Bank of Industry in the deployment and monitoring of a critical US$2.0 billion infrastructure intervention facility for Nigeria’s electricity and aviation sectors. This facility remains the single largest source of low cost, local currency, financing for infrastructure projects in Nigeria over the last decade. AFC has provided advising on over 160 power and aviation projects and made total investment recommendations of US$2.6 billion (equivalent) to-date. With AFC’s counsel, the facility has financed about 1,432MW of power projects in Nigeria, with 997MW of this capacity providing new supply to companies and the national grid.
 
Other projects for which the Financial Advisory Department has provided support include a mandate to raise US$1.4 billion in debt financing for the development of a brownfield fertilizer plant in Nigeria; a mandate as financial adviser for the construction of an interchange and ancillary roads with an estimated cost of US$80 million in Ghana; a mandate as financial adviser and structuring bank on the development, financing and subsequent construction of a 387 km single track standard gauge rail line in Northern Nigeria estimated to cost c.US$2.0 Billion; a mandate as financial adviser to a UK listed upstream oil and gas company for a capital raise of c.US$150 million for the development of its oil and gas assets and other “Bolt-on” acquisition opportunities across Africa; the merger of AFC’s electricity sector assets into a new joint venture entity called Anergi Holdings Limited (“Anergi”), a mandate as financial adviser on an innovative mass urban transit system solution to help address the crippling traffic congestion in Lagos, as well as the provision of ongoing technical advice to the private-sector managers of the largest innovative local currency infrastructure fund focused on Nigeria.

In addition, AFC has advised a number of critical public sector entities, and state-owned Enterprises, including the Federal Ministry of Finance in Nigeria, on the financing of critical infrastructure projects, and the Federal Ministry of Transport in Nigeria on a private sector concession o its national railway infrastructure.  
AFC’s Financial Advisory Department is creating innovative solutions for major infrastructure projects across Africa. These are progressively addressing the infrastructure gap and creating the sound foundations upon which the continent’s economies can develop and grow.

 

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