Project development (PD)
The team aims to develop or co-develop transformational infrastructure projects in a manner which eliminates or appropriately mitigates risks and ensures the projects are bankable. PD offers project development products to third-party developers and government, and has the in-house capacity to develop projects on its own account. Our service line unlocks value from projects that would otherwise be unable to attract financing and creates a pipeline of projects, with high developmental impact, for AFC to deploy its sizeable balance sheet.
Approach and methodology
The team develops projects across AFC’s core sectors. Projects are required to have completed a prefeasibility to be eligible for consideration. PD provides funding for projects to cover third-party development costs including technical and environmental studies, project structuring, and project contract negotiations. The unit also leverages its in-house experience and technical expertise to provide technical support to project sponsors throughout the development phase.
Additional scope of engagement
Project Development offers a range of solutions, based on the unique needs of each project. PD’s main services/products are:
End-to-end Project coordination
As lead developer, AFC takes projects from conception to operations.
As lead developer, AFC takes projects from conception to operations.
Co-development
AFC provides financial and project structuring advice and funding for third party development costs to sponsor to advance the development of projects.
AFC provides financial and project structuring advice and funding for third party development costs to sponsor to advance the development of projects.
PD Advisory
AFC provides technical and structuring advice to sponsors to help them ensure their projects are bankable.
AFC provides technical and structuring advice to sponsors to help them ensure their projects are bankable.
Notable initiatives and projects
PD has successfully closed several landmark projects including:
Unlocking Developmental Financing for the Mining Sector
Recognizing the need to bridge the funding and expertise gap, Africa Finance Corporation (AFC) and the Solid Minerals Development Fund (SMDF) have formed a formidable partnership to deploy project development funding and technical advisory to fast-track the closure and operations of commercial-scale mining projects in Nigeria.
Co-Development
Dynamic Mining Project: A 10mtpa bauxite mine in Guinea Singrobo Hydro Plant: A 44MW hydro power plant in Cote D’Ivoire.
End-to-End Project Coordination & Lead Development
Djibouti Wind Project: A 60MW wind farm project in Ghoubet, Djibouti. This is the first privately financed independent power plant in Djibouti. It reduces dependency on the external supply of around 65% of Djibouti's electricity from Ethiopia.
Project Development Advisory
Brahms Refinery and Storage Terminal: A 12,000 barrels per day refinery and storage terminal in Kamsar, Guinea. Upon completion, the refinery will cover one-third of the country’s demand for refined products.
Solutions offerings
Project Development business is focused on differentiation – in the increasingly saturated infrastructure development space – through development of assets to seed into platforms and identification of priority countries with transformative infrastructure needs.
AFC’s Project Development exposure to a single project ranges from US$1 million to US$20 million. We provide project development financing via our balance sheet. This can be in the form of a corporate project development facility, project development loan or project development equity.
Project Development Advisory
Co-Development
End-to-End Project Co-ordination
Eligible Use of Funds
Typical Information Request
