Tunis, 30 August 2022: Africa Finance Corporation (AFC), the leading infrastructure solutions provider in Africa, and Mizuho Bank, a leading global bank with one of the largest customer bases in Japan, have signed a Memorandum of Understanding to collaborate on project & infrastructure finance, trade finance and treasury to drive sustainable economic growth in Africa and Asia. This agreement was signed at the just concluded 8th Tokyo International Conference on African Development in Tunisia.
Through this partnership, AFC and Mizuho Bank are committed to co-financing infrastructure projects in Africa across key sectors including energy, transport and telecoms. The agreement also aimed at realignment of Africa’s trading position, providing innovative finance instruments to facilitate trade between Africa and Japan.
Additionally, Mizuho Bank will leverage AFC’s specialist industry expertise and global network to enhance its support of Japanese and other multinational companies doing business in Africa. For AFC, the Corporation will benefit from closer access to Japanese and Asian capital markets for its fundraising activities.
Samaila Zubairu, President & CEO, Africa Finance Corporation, said:“ This partnership is a significant milestone in our journey to build the alliances that will deliver timely sustainable solutions for building the instrumental infrastructure that enables Africa’s industrialization and unleash our continent’s prosperity. Asia and in particular, Japan, are key to Africa’s next phase of growth and structural transformation. We are delighted to forge a new partnership today with Mizuho Bank, one of the largest financial institutions in Japan.”
For over 15 years, AFC has built experience mobilising global capital for critical infrastructure projects in Africa. The Corporation has recently received equity investments from Public Investment Corporation (PIC), Africa’s largest asset manager, Seychelles Pension Fund, the Government of Sierra Leone, and the Central Bank of Guinea, signalling investors’ confidence in AFC’s key role in elevating Africa as a critical engine of global growth.
AFC was established in 2007 to be the catalyst for private sector-led infrastructure investment across Africa. AFC’s 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.
Fifteen years on, AFC has developed a track record as the partner of choice in Africa for investing and delivering on instrumental, high-quality infrastructure assets that provide essential services in the core infrastructure sectors of power, natural resources, heavy industry, transport, and telecommunications. AFC has invested over US$10 billion in 35 countries across Africa since inception.