AFC provided a US$62.2 million bridge financing instrument for the 60MW Red Sea Wind Power project in Djibouti. The project will support Djibouti’s energy independence in an environmentally friendly manner and will result in the displacement of some liquid fuel plants. It will also help the country achieve a significant reduction in electricity imports from neighbouring countries.
A bridge financing approach was adopted in order to expedite project development activities and to ensure that financial close was achieved in a timely fashion by December 2019. That was just over two years after the agreement for the development of the project was signed with Électricité de Djibouti, the Djiboutian national utility, in 2017.
AFC has sought to address the wider infrastructure divide by originating, structuring and executing projects in the African power sector….
The DFI community, including the AFC, continues to play the important facilitation role by becoming more and more involved in projects….
As a continent endowed in natural and mineral resources, Africa has the capacity for sustainable growth in industrial output….
Expanding connectivity and energy efficient equipment are predicted to be the main drivers of investment and deal activity in Sub Saharan Africa….
AFC acts as an adviser and financier to a number of leading sponsors seeking to undertake important transactions in the mining and oil and gas industries and associated infrastructure….