Equity

The Capital Mobilization & Partnerships (CMP) Department is a consolidated platform for all equity capital mobilization, partnerships, alliances, and country membership engagements for the Corporation. This move reinforces AFC’s status as the preferred partner for Africa’s infrastructure and industrial development, providing pragmatic solutions to unlock the continent’s potential and drive prosperity and growth.

The CMP team is dedicated to enhancing and embedding AFC’s pioneering approach to attracting capital from African and non-African investors. This approach aligns with AFC’s strategic vision to forge deep and meaningful partnerships with its member and nonmember countries, non-African sovereigns and global stakeholders.

Equity Mobilization

With over 47 shareholders, AFC has grown and diversified its shareholder base to include sovereigns, pension funds, banks, and multilaterals across Africa. Since the start of the equity raise in 2018, the corporation has cumulatively mobilized US$1.1 BN in 2023 and welcomed an inaugural non-regional investment from Turk Exim Bank. Going forward, the Corporation seeks to further diversify its shareholding by attracting investment from regional and non-regional institutional investors. We aim to double our current capital size to accelerate Africa's infrastructure development and economic growth. AFC's growing visibility and strong track record strategically position us to achieve this ambitious target, furthering our mission of transforming Africa’s infrastructure landscape. Our equity investment options include Fully Paid Shares, Callable Capital, Equity Warrants, and Green Shares.

Shareholder base
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Membership and Ratification

Membership in the AFC is open to all African states. African countries can join by signing the Instrument of Adherence and ratifying the AFC Establishment Agreement. Member countries, upon acceding to membership, are required to ratify the AFC’s Constitutive Instruments in line with their national laws, essentially domesticating the AFC Treaty into local law by the requirements of the country’s internal protocols.

Benefits of Membership

  • Sovereign Lending and Competitive Debt Pricing: Member countries gain preferred access to AFC's sovereign financing suite, including liquidity/sovereign solutions, hard currency SWAPs, and refinancing facilities. They also enjoy competitive terms due to AFC's diplomatic immunities and preferred creditor status.
  • Increased Investment Allocation: Membership leads to higher investment allocations and access to origination and advisory services tailored to member countries' national development agendas.
  • Access to a diverse pool of funding: With AFC’s track record of investing USD 13.2 billion across the continent, ratification allows countries to tap into this substantial financial resource. This infusion of funds can significantly contribute to addressing the country’s critical infrastructure needs and drive economic growth. AFC also can catalyze additional funding on the back of its international status in countries and strong relationships with credible international and regional partners. The Corporation can syndicate financing for projects in member countries, raising almost 4-6 times its commitment on the back of its A/B bond program.
  • Project Development Support: Member countries have access to AFC's Public Sector Advisory Facility (US$5 million) and Project Development Facility, which help advance projects to bankable stages.
  • Protection of Political Risk: As an MFI, AFC’s participation in certain projects in Member Countries and its ability to provide guarantees help mitigate political risk associated with in-country projects, minimizing the overall cost of debt financing. This risk mitigation through participation by AFC enhances the attractiveness of projects in the eyes of investors and other lenders.
  • Protection of Political Risk: As an MFI, AFC’s participation in certain projects in Member Countries and its ability to provide guarantees help mitigate political risk associated with in-country projects, minimizing the overall cost of debt financing. This risk mitigation through participation by AFC enhances the attractiveness of projects in the eyes of investors and other lenders.

We currently have forty-five (45) member states:

Angola, Benin, Botswana, Burkina Faso, Burundi, Cameroon, Cape Verde, Chad, Comoros, Congo Brazzaville, Cote d'Ivoire, Djibouti, DRC, Egypt, Eritrea, Ethiopia, Eswatini, Gabon, Ghana, Guinea Bissau, Guinea-Conakry, Kenya, Liberia, Madagascar, Malawi, Mali, Mauritania, Mauritius, Morocco, Namibia, Niger, Nigeria (Host Country), Rwanda, Sao Tome & Principe, Senegal, Sierra Leone, Somalia, South Sudan, The Gambia, Togo, Tanzania, Tunisia, Uganda, Zambia, Zimbabwe.

Partnerships

AFC has consistently expanded its global influence through strategic partnerships with regional and non-regional institutions. It has focused on forming multiple new partnerships to support its country membership, capital subscription, and origination objectives. The Corporation prioritizes the operationalization of existing partnerships, targeting new global alliances, and managing relationships with governments and the diplomatic community to continue to enhance its role in infrastructure development.

Coming soon!