Thursday, October 9, 2025
29.4 C
Lagos

Africa Finance Corp Secures $150m Loan from German Bank

In a statement published on June 22, Africa Finance Corporation (AFC) announced it has obtained a $150 million loan from the German bank KfW, to finance infrastructure projects in Africa.

The agreement related to the loan, repayable over 15 years, was signed in London by AFC’s CEO, Andrew Alli, and KfW’s infrastructure division’s head, Jan Martin Witte.

“Not only will this loan facility from KfW add valuable capital to our finance reserves but the 15-year tenor period is particularly suited to funding the long-term, large-scale infrastructure projects that are so needed across Africa,”said Andrew Alli, cited in the statement.

AFC is multilateral financial institution established in 2007 with an initial capital of $1.1 billion and whose mission is to mobilise investments for Africa’s infrastructure sector.

Its shareholders are the Central Bank of Nigeria (42.5%), other African commercial banks like Ecobank, United Bank of Africa and First Bank of Nigeria (47.6%) and other investors (9.8%).

Overall, the institution has mobilised $2.5 billion of investment for Africa.

spot_img
spot_img
spot_img

Hot this week

Zenith Bank, NEM, Seplat, AIICO, Dangote Cement, First HoldCo Recognised as Nigeria’s High-Performing Companies

L-R:    Michael Ani, Manager, Investor Relations, Dangote Cement; Oluseyi...

Rosatom: Nuclear Energy Holds key to Africa’s Sustainable Future

The role of nuclear energy in meeting Africa’s future...

RMRDC Targets 30% Value-Added Policy on Export of Local Raw Materials

The Raw Materials Research and Development Council (RMRDC) says...

NDIC, CIBN Strengthen Collaboration in Emerging Issues in the Financial Sector

L-R: President/Chairman of Council, Chartered Institute of Bankers of...

Fidelity Bank Commences Disbursement of FGN MSME Intervention Funds

Tier One Lender, Fidelity Bank Plc, has commenced the...

Topics

NGX Highlights Opportunities in Green, Sukuk Bonds

Nigerian Exchange Limited (NGX) continues to drive the development...

Goldlink Insurance Plc Receives FIRS Team

The management of Goldlink Insurance Plc received a team...

Nigerian Content Level Hits 54% in 2022, NCDMB Tasks Indigenous Firms on Compliance

Mid-way into a 10-year Strategic Road Map for enhanced...

Equities Market Extends Losses to 5th Consecutive Trading Sessions

In yesterday’s trading session, the local bourse shed 1.0%...

Fidelity Bank ED, Kevin Ugwuoke, Takes Over as President of Risk Managers Association

L-R: Registrar/Chief Executive, Chartered Risk Management Institute of Nigeria...

HP to Educate 100,000 Learners Across Africa by 2021

Recently at the Global Citizen Festival: Mandela 100, HP...

MTN Group Appoints Thato Motlanthe as New Investor Relations Executive

MTN Group has appointed Thato Motlanthe to the position...
spot_img

Related Articles

Popular Categories

spot_imgspot_img