With investors
We always take an end-to-end view of projects, seeking to participate through the entire project life cycle from concept design to operations, working with partners to find solutions to market challenges.
We are one of Africa’s unique success stories, well positioned to continue playing a catalytic role in mobilising global capital to help bridge Africa’s critical infrastructure deficits. As such, we consistently seek proactive engagements with private and multilateral institutions to provide finance for transformative infrastructure projects in Africa with high developmental impact.
This clear focus has enabled us to grow stronger year by year to become one of the highest investment-grade rated multilateral financial institution in Africa – with a constant A3/P2 rating since 2015 from Moody’s Investors Service. We have consistently grown our balance sheet, broadened our asset base and expanded our geographic footprint. Since 2007, AFC has mobilised up to US$5.1 billion of funding from global debt markets and deployed over US$12.7 billion in investments to finance projects in 36 African countries.
Shareholder structure
AFC has 37 shareholders with a significant proportion from the private sector. This innovative structure has served our performance historically – with the support of regional and non-regional multilateral institutions, long-term investors, impact investors and academia, all driven to help Africa achieve its full economic potential.
Funding
Funding plays a critical role in AFC’s operations, enabling the execution of transformative projects across the continent. Our strategies to seek new and varied sources across the world include:
Tapping into niche markets to attract new pockets of liquidity
Diversifying our funding sources through a proactive investor engagement programme
Leveraging market opportunities to drive down funding costs
Extending maturity profile of debts to fund longer-term assets
Performance track record
Since inception, we have demonstrated consistently high performance in facilitating instrumental infrastructure investment across the continent.
| Instrument | Instrument | Amount | Tenor | Year | Use of Proceeds |
Deutsche Investitions- und Entwicklungsgesellschaft |
Loan |
Eu€150,000,000 | 10 | 2022 | supports the development and implementation of infrastructure projects that enhance the continent’s ESG impact |
Kimchi |
Loan |
$160,000,000 | 3 | 2022 | Enhancement of investment capacity |
Opec Fund for International Development(OFID) |
Loan |
$50,000,000 | 10 | 2022 | Enhancement of investment capacity |
Samurai |
Loan |
$412,000,000/¥1,000,000,000 | 3 | 2022 | Enhancement of investment capacity |
Korea Development Bank |
Loan |
$100,000,000 | 5 | 2022 | Enhancement of investment capacity |
CDP |
Loan |
EU€100,000,000 | 10 | 2022 | To support the renewable energy transition in Africa |
Syndicated Loan |
Loan |
400,000,000 | 3 | 2021 | Enhancement of investment capacity |
Deutsche Investitions- und Entwicklungsgesellschaft (DEG)/Proparco/FMO |
Loan |
170000000 | 12 | 2021 | Enhancement of investment capacity |
Export-Import Bank of India |
Loan |
$100,000,000 | 9 | 2021 | To develop the critical infrastructure required to rebuild Africa’s economies, post-COVID 19. |
KfW IPEX-Bank GmbH |
Loan |
$100,000,000 | 3 | 2021 | Enhancement of investment capacity |
United States International DFC |
Tier 2 Loan |
$250,000,000 | 15 | 2020 | Enhancement of investment capacity |
OPEC Fund for International Development |
Loan |
$50,000,000 | 10 | 2020 | Enhancement of investment capacity |
KIMCHI Loan Facility |
Loan |
$140,000,000 | 3 | 2019 | Enhancement of investment capacity |
Samurai Loan Facility |
Loan |
233000000/ ¥1,000,000,000 | 3 | 2019 | Enhancement of investment capacity |
International Club Loan Facility |
Loan |
300000000 | 3 | 2018 | Enhancement of investment capacity |
China Export Import Bank |
Loan |
300,000,000 | 5 | 2018 | Enhancement of investment capacity |
Overseas Private Investment Corporation |
Loan |
19500000 | 7 | 2018 | Enhancement of investment capacity |
Agence Francaise de Developpement |
Loan |
$100,000,000 | 19 | 2018 | Enhancement of investment capacity |
Oesterreichische Entwicklungsbank AG(OeEB) |
Loan |
$30,000,000 | 4 | 2018 | Enhancement of investment capacity |
Islamic Development Bank |
Loan |
$10,000,000 | 5 | 2017 | Enhancement of investment capacity |
Kfw Development Bank |
Loan |
$50,000,000 | 15 | 2016 | Enhancement of investment capacity |
Kfw Development Bank |
Loan |
$100,000,000 | 15 | 2016 | Enhancement of investment capacity |
Proparco |
Loan |
$250,000,000 | 10 | 2013 | Enhancement of investment capacity |
Proparco |
Loan |
32000000 | 10 | 2013 | Enhancement of investment capacity |
Africa Development Bank |
Loan |
115,750,000 | 10 | 2012 | Enhancement of investment capacity |
| Instrument | Instrument | Amount | Tenor | Year |
MTN Eurobond Series 21 |
Eurobond |
$750,000,000 | 7 |
2021 |
MTN Eurobond Series 14 |
Eurobond |
$700,000,000 | 5 |
2020 |
MTN Eurobond Series 11 |
Eurobond |
$500,000,000 | 7 |
2019 |
MTN Eurobond Series 10 |
Eurobond |
$650,000,000 | 5 |
2019 |
MTN Eurobond Series 9 |
Eurobond |
$500,000,000 | 10 |
2017 |
MTN Eurobond Series 1 |
$750,000,000 |
$750,000,000 | 5 |
2015 |
Green Bond(15) |
Green Bond |
CHF150,000,000 | 5 |
2020 |
CHF Bond (12) |
Public Bond |
CHF200,000,000 | 4 |
2019 |
CHF Bond |
Eurobond |
CHF100,000,000 | 3 |
2016 |
Modupe Famakinwa, Head Corporate Funding
Modupe Famakinwa joined Africa Finance Corporation in December 2014. She manages the corporation’s annual funding programme, overseeing a $7billion debt portfolio, and is responsible for Investor relations, managing an extensive investor and lender database with over 1200 global institutional investors and lenders.
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Loans, Eurobonds
Loans