Africa Finance Corporation

Africa Finance Corporation (AFC) is a pan-African Multilateral Development Financial Institution which is established by sovereign African states with the main motive to provide remedies to Africa's infrastructure deficit and challenging operating environment.

Africa Finance Corporation
Private
IndustryFinance
Founded2007
Headquarters3a Osborne Road
Ikoyi, Lagos State, Nigeria
Key people
Dr. Kingsley Obiora (Chairman)
Samaila Zubairu (President & CEO)
ProductsDevelopment Finance Institution
Total assetsUS$6.6 billion (2019)[1]
OwnerAfrican governments
African banks
Private equity funds
Insurance groups
Websitewww.africafc.org

History

Africa Finance Corporation (AFC) was commissioned on December, 2007 by the founding President and Chief Executive Mr Austine Ometoruwa, then Citibank Africa Investment Bank Head and by the founding Chairman Chukwuma Soludo.[2][3]

Project

PowerEdit

  • Cen Power Kpone IPP in Ghana[4]
  • Cabeolica Wind farm in Cape Verde[5]
  • 450MW IPP In Republic of Benin
  • 350MW IPP in Ghana
  • 300MW IPP in Mozambique
  • Technical Adviser to the Central Bank of Nigeria on its US$2 billion Power and Aviation Intervention *Fund (PAIF)[6]

References

  1. "African Development Bank Group becomes a shareholder in Africa Finance Corporation". 14 November 2019. Archived from the original on 27 September 2020. Retrieved 10 October 2021.
  2. "Special Supplement: Africa Emerging Asset Class" (PDF). Archived from the original (PDF) on 2017-05-10. Retrieved 2021-10-10.
  3. "AFC to ink $100 million investment deal in Nigeria's mining sector". Nairametrics. 2018-11-02. Retrieved 2021-10-10.
  4. Dogbevi, Emmanuel (2015-01-28). "AFC funded $900m Kpone power plant to be unveiled this week". Ghana Business News. Retrieved 2021-10-10.
  5. "Energy investors merge to create pan-Africa power group". www.yahoo.com. Archived from the original on 2021-10-10. Retrieved 2021-10-10.
  6. http://www.ise.ie/debt_documents/Base%20Prospectus_7586a23f-d940-4623-99f0-9adf9256d0ad.PDF