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AFC Skye Bank Disclaimer

Africa Finance Corporation notes recent press reports that claim the Corporation had exposure of NGN 17.1 billion to Skye Bank Plc as at December 31, 2014. This is incorrect, as AFC did not have any exposure to Skye Bank at that time. Furthermore, AFC does not have any current exposure to Skye Bank.

Note to Editors
AFC, an international investment grade multilateral finance institution, was established in 2007 with an equity capital base of US$1 billion, to be the catalyst for private sector infrastructure investment across Africa. With a current balance sheet size of approximately US$3.2 billion, AFC is now the second highest investment grade rated multilateral financial institution in Africa with an A3/P2 (Stable outlook) rating from Moody’s Investors Service. In May 2015, AFC successfully concluded a debut US$750 million Eurobond issue which was 7 times oversubscribed and attracted investors from Asia, Europe and the USA.

AFC’s investment approach combines specialist industry expertise with a focus on financial and technical advisory, project structuring, project development and risk capital to address Africa’s infrastructure development needs and drive sustainable economic growth. AFC invests in high quality infrastructure assets that provide essential services in the core infrastructure sectors of power, natural resources, heavy industry, transport, and telecommunications. The Natural resources sector is an important focus area for AFC. The Corporation is developing a rapidly expanding franchise in Sub Saharan-Africa, with a number of landmark transactions approved and executed. The Corporation has total investment in the natural resources sector of over US$450 million, and mobilized over US$2 billion of funding as a sponsor, adviser or lender for natural resources projects across the continent