Africa Finance Corporation membership hits 31, aims to bridge the continent’s infrastructure gap

AFRICA – Africa Finance Corporation (AFC), a pan-African multilateral development financial institution established in 2007, has announced that it has now reached 31 member states constituting more than half the continent. In the first quarter of the year 2021, membership by Burkina Faso, the Democratic Republic of Congo, and Morocco added up the number to 31 member states.    “This is a landmark achievement for AFC as we continue to expand our footprint across the continent,” said Samaila Zubairu, President and CEO of AFC. “It is my pleasure to welcome…

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Africa Finance Corporation secures US$250m from DFC to strengthen investment capacity

AFRICA – Africa Finance Corporation (AFC), an investment grade multilateral finance institution, has secured a US$250m tier-2 capital loan from US International Development Finance Corporation (DFC). The facility will strengthen AFC’s investment capacity by enabling it to provide competitive financing solutions for closing Africa’s infrastructure deficit. It also further complements AFC’s strategy of diversifying its investor base. “Africa and the United States have enjoyed a longstanding partnership spanning several decades. Indeed, AFC has partnered with the US on several infrastructure initiatives, including the Power Africa initiative, and regularly receives investments from US-based investors in…

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Attracting private sector capital is key in closing infrastructure finance gap in Africa -AfDB

AFRICA – Greater private sector involvement in infrastructure projects is key in closing the infrastructure financing gap in Africa, however more has to be done to make Africa projects more attractive, the African Development Bank (AfDB) has said. According to AfDB, private sector investors develop cold feet when it comes to investing in infrastructure projects in Africa because of the high risk that come with investing in such projects. The continent’s largest development finance institutions have however reaffirmed their commitment in boosting the number of bankable projects that will attract…

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Africa Finance Corporation secures $162 million in inaunagural green bond

AFRICA – Africa Finance Corporation, an infrastructure solutions provider in Africa, has announced the successful issuance of its inaugural $162 million, senior unsecured benchmark Green Bond under the Corporation’s $5 Billion Global Medium-Term Note, GMTN, programme, maturing in 2025. The issuance is also the Corporation’s third Swiss CHF-denominated bond. The Bond has a tenor of five years, carries a coupon of 1.205 per cent and is listed on the SIX Swiss Exchange. The Bond is rated A3 by Moody’s Investor Services in line with AFC’s GMTN programme.  It is also…

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AFC issues its five year US$700m Eurobond being the first for 2020

AFRICA – Africa Finance Corporation (AFC), an infrastructure solutions provider in Africa, has issued a US$700m Regulation S Eurobond (Reg S), the AFC’s first bond issuance in 2020.  The US$700m Eurobond, maturing June 16, 2025, carries a coupon of 3.125%. The bond received strong global interest across Europe, Asia and the Middle East despite the challenging global economic backdrop, leading it to being 3 times over-subscribed.  “AFC is pleased with the placement of our most recent Eurobond, which reflects market confidence in AFC’s strategy and execution and demonstrates African issuers’…

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