AFC Membership
 
Current member countries of AFC include Nigeria (host country), Gabon, Cape Verde, Chad, Côte d’Ivoire, Djibouti, The Gambia, Ghana, Guinea, Guinea-Bissau, Liberia, Rwanda, Uganda, Sierra Leone, Kenya, Zambia and Benin Republic. A number of prospective new member countries are at different stages of their due diligence and approvals.  

Benefits of joining AFC
 
  • Access to lower cost of debt  on  infrastructure projects due to the “Preferred Creditor Status” conferred by AFC on its Member Countries
  • Access to AFC’s Project Development expertise
  • Access to AFC’s partner network which includes an extensive list of lenders, investors, co-investors, project sponsors, and project development companies and institutions
  • Distributions & Dividends; where a country elects to be shareholder
  • Board representation; where a country has subscribed and paid for at least 50 million shares
 
Step by step guide to joining AFC
 
Membership of AFC is open to African States (preferably through their respective Central Banks, Sovereign Wealth Funds, State Pension Funds or similar institutions).
 
Shareholding is open to member states, regional and sub - regional development financial institutions), private and public sector institutional shareholders (private banks, insurance companies, pension funds, and other corporations).
 
I. Membership Only
A prospective Member State may join the AFC by signing the Letter of Adherence, and ratifying the constitutive instruments of AFC, namely the AFC Establishment Agreement and the Charter through its cognitive/constituent authority. A copy of AFC’s Charter and Establishment Agreement is available upon the submission of a non-binding expression of interest letter to become a Member of AFC.
 
II. Membership & Shareholding
Member States are not required to make a financial commitment and or investment before joining the AFC. Member States may elect to make financial commitment/ investment and become shareholders through their designated entities (Central Banks, Sovereign Wealth Funds and State Pension Funds or regional or sub­ regional development financial institutions) at any time convenient to the member country.
 
Membership and shareholding may not happen simultaneously; members may elect to become shareholders at any convenient date.
 
Downloads:

pdf-icon-(1).png Membership Procedures

pdf-icon-(1).png Introduction to AFC

 

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