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$11.5 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.
2022
EU €150mm
- Deutsche Investitions- und Entwicklungsgesellschaft(DEG)/Proparco
- Amount: EU €150,000,000
- Tenor: 10
- Use of Proceeds: supports the development and implementation of infrastructure projects that enhance the continent’s ESG impact
- Signed: 2022
2022
USD $160mm
- Kimchi
- Amount: USD 160,000,000
- Tenor: 3
- Use of Proceeds: Enhancement of investment capacity
- Signed: 2022
2022
USD $50mm
- Opec Fund for International Development(OFID)
- Amount: USD 50,000,000
- Tenor: 10
- Use of Proceeds: Enhancement of investment capacity
- Signed: 2022
2022
USD $412mm/¥1bn
- Samurai
- Amount: USD $412,000,000/¥1,000,000,000
- Tenor: 3
- Use of Proceeds: Enhancement of investment capacity
- Signed; 2022
2022
US $100mm
- Korea Development Bank
- Amount: USD 100,000,00
- Tenor: 5
- Use of Proceeds: Enhancement of investment capacity
- Signed: 2022
2022
EU €100mm
- CDP
- Amount: EU€ 100,000,000
- Tenor: 10
- Use of Proceeds: to support the renewable energy transition in Africa
- Signed: 2022
2021
US $400,000
- Syndicated Loan
- Amount: USD 400,000
- Tenor: 3
- Use of Proceeds: Enhancement of investment capacity
- Signed: 2021
2021
US$ 170mm
- Deutsche Investitions- und Entwicklungsgesellschaft (DEG)/Proparco/FMO
- Amount: USD 170,000,000
- Tenor: 12
- Use of Proceeds: Enhancement of investment capacity
- Signed: 2021
2021
US$ 100mm
- Export-Import Bank of India
- Amount: USD 100,000
- Tenor: 9
- Use of Proceeds: To develop the critical infrastructure required to rebuild Africa’s economies, post-COVID 19
- Signed: 2021
2021
US $100mm
- KfW IPEX-Bank GmbH
- Amount: USD 100 million
- Tenor: 3
- Use of Proceeds: Enhancement of investment capacity
- Signed: 2021
2020
US$250mm
- United States International DFC Tier-2 capital loan
- Amount: USD 250 million
- Tenor: 15 years
- Use of Proceeds: Enhance investment capacity
- Signed: 2020
2020
USD $50mm
- OPEC Fund for International Development
- Amount: USD 50,000,000
- Tenor: 10
- Use of Proceeds: Enhancement of investment capacity
- Signed: 2020
2019
US$140mm
- Kimchi Syndicated Term Loan Facility
- Amount: US$140mm
- Tenor: 3 years
- Use of Proceeds: General corporate purpose
- Signed: 2019
2019
USD $140mm
- Kimchi Loan Facility
- Amount: USD 140,000,000
- Tenor: 3
- Use of Proceeds: Enhancement of investment capacity
- Signed: 2019
2019
US$233mm and JPY1.0bn
- Samurai Term Loan Facility
- Amount: US$233mm & JPY1.0bn
- Tenor: 3 years
- Use of Proceeds: General corporate purposes
- Signed: 2019
2019
USD $233mm/ ¥1bn
- Samurai Loan Facility
- Amount: USD 233,000,000/ ¥1,000,000,000
- Tenor: 3
- Use of Proceeds: Enhancement of investment capacity
- Signed: 2019
2018
USD $300mm
- International Club Loan Facility
- Amount: USD 300,000,000
- Tenor: 3
- Use of Proceeds: Enhancement of investment capacity
- Signed: 2018
2018
USD $300mm
- China Export Import Bank
- Amount: USD 300,000,000
- Tenor: 5
- Use of Proceeds: Enhancement of investment capacity
- Signed: 2018
2018
USD $19.5mm
- Overseas Private Investment Corporation
- Amount: USD 19,500,000
- Tenor: 7
- Use of Proceeds: Enhancement of investment capacity
- Signed: 2018
2018
USD $100mm
- Agence Francaise de Developpement
- Amount: USD 100,000,000
- Tenor: 19
- Use of Proceeds: Enhancement of investment capacity
- Signed: 2018
2018
USD $30mm
- Oesterreichische Entwicklungsbank AG(OeEB)
- Amount: USD 30,000,000
- Tenor: 4
- Use of Proceeds: Enhancement of investment capacity
- Signed: 2018
2017
USD $10mm
- Islamic Development Bank
- Amount: USD 10,000,000
- Tenor: 5
- Use of Proceeds: Enhancement of investment capacity
- Signed: 2017
2016
USD $50mm
- Kfw Development Bank
- Amount: 50,000,000
- Tenor: 15
- Use of Proceeds: Enhancement of investment capacity
- Signed: 2016
2016
US$190mm
- Syndicated Term Loan Facility
- Amount: US$190mm
- Tenor: 2 years
- Use of Proceeds: Enhancement of investment capacity
- Signed: 2016
2016
USD $100mm
- Kfw Development Bank
- Amount: 100,000,000
- Tenor: 15
- Use of Proceeds: Enhancement of investment capacity
- Signed: 2016
2013
USD $250mm
- Proparco
- Amount: USD 250,000,000
- Tenor: 10
- Use of Proceeds: Enhancement of investment capacity
- Signed: 2013
2013
USD $32mm
- Proparco
- Amount: USD 32,000,000
- Tenor: 10
- Use of Proceeds: Enhancement of investment capacity
- Signed: 2013
2012
USD 115.75mm
- Africa Development Bank
- Amount: 115,750,000
- Tenor: 10
- Use of Proceeds: Enhancement of investment capacity
- Signed: 2012
September 2020
CHF150mm
- 1.205% Fixed Rate Notes due 2025
- Size: CHF150mm
- Coupon: 1.205% s.a.
- Maturity: 30-Sep-25
- Pricing Date: 21-Sep-20
- Reoffer Yield: 1.205%
- Issue format: Reg S only
January 2020
US$700mm
- 3.125% Fixed Rate Notes due 2025
- Size: US$700mm
- Coupon: 3.125% s.a.
- Maturity: 16-Jun-25
- Pricing Date: 12-Jun-20
- Reoffer Price / Yield: 99.427%/ 3.25%
- Issue format: Reg S only
November 2019
CHF200mm
- 0.5225% Fixed Rate Notes due 2023
- Size: CHF200mm
- Coupon: 0.5225% p.a
- Maturity: 20-Dec-23
- Pricing Date: 19-Nov-19
- Reoffer Price / Yield: 100% / 0.5225%
- Issue format: Reg S only
October 2019
US$500mm
- 3.75% Fixed Rate Notes due 2029
- Size: US$500mm
- Coupon: 3.75% s.a.
- Maturity: 30-Oct-29
- Pricing Date: 23-Oct-19
- Reoffer Price / Yield: 98.808%/ 3.895%
- Issue format: Reg S only
April 2019
US$650mm
- 4.375% Fixed Rate Notes due 2026
- Size: US$650mm
- Coupon: 4.375% p.a.
- Maturity: 17-Apr-26
- Pricing Date: 10-Apr-19
- Reoffer Price / Yield: 99.257% / 4.500%
- Issue format: 144A/Reg S
April 2017
US$500mm
- 3.875% Fixed Rate Notes due 2024
- Size: US$500mm
- Coupon: 3.875% p.a.
- Maturity: 13-Apr-24
- Pricing Date: 06-Apr-17
- Reoffer Price / Yield: 99.243% / 4.000%
- Issue format: 144A/Reg S
January 2017
US$150mm
- 6m$L+200bps Private, Reg S Notes due 2020
- Size: US$150mm
- Coupon: n.a.
- Maturity: 24-Jan-20
- Pricing Date: 24-Jan-17
- Reoffer Price / Yield: 100% / 6m$L+200bps (s.a.)
- Issue format: Private, Reg S

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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