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AFC Publishes Maiden Edition of its Africa Infrastructure Review

The Africa Finance Corporation has released the maiden issue of its quarterly publication, the Africa Infrastructure Review. Africa Infrastructure Review offers AFC’s perspective on topical issues relating to infrastructure development, financing and investment in Africa. It presents practical and innovative solutions, based on AFC expertise, local knowledge and unique insight into the African infrastructure space.

In this first quarter of 2011, the Review focuses on the electricity sector in AFC’s host country, Nigeria. It is a sector that is undergoing unprecedented reforms at a particularly momentous time for Nigeria generally. AFC makes a case that perhaps a disproportionate amount of effort has been put into eliminating barriers to private investment in the upstream segments of the power industry (generation and gas supply) and less on the crucial downstream distribution sub-sector. Our analysis seeks to contribute to addressing this imbalance. Drawing from experience elsewhere in Africa, we outline a clear path to success for private investors in Nigerian distribution assets, using the Lesotho Electricity Corporation as an operational case study.

AFC believes that in 2011, Nigeria can finally complete the long-delayed privatisation and liberalisation of its electricity supply industry. In doing so, it should be able to unlock the immense opportunities for productivity, value-added, employment and economic growth, particularly in its non-oil sector. AFC is positioned to play a leading role in catalysing private sector investments into infrastructure development in Nigeria. The corporation is actively engaged with various partners seeking to participate in the on-going power privatisation process. In addition to specialised financial advisory, debt and equity capital raising offerings, AFC also offers technical and project development advisory services. It co-invests with local and international partners in acquiring or developing assets across the African continent.

We hope you find Africa Infrastructure Review useful, and we look forward to hearing from you on ways we may be able to assist you in 2011 – both in Nigeria and the wider African infrastructure investment space.