The financial institution: Africa Finance Corporation (AFC)
“AFC continues to have a multipronged approach to investment. Our aim is to tackle the infrastructure gap, which is one of the main reasons why many projects in Africa are not financed. In fact, we have invested in the Nouvelle Gabon Mining (NGM) project to connect the entire ecosystem and to address the wider infrastructure challenges. In West Africa we will continue implementing our ecosystem strategy, which implies using mining as a catalyst for investment in other areas including the power sector, the railway sector and other ancillary infrastructure sectors. We are trying to replicate this ecosystem approach in countries such as Sierra Leone, Liberia and Guinea.
One of the institution’s top objectives is to grow its balance sheet from US$7.5 billion to US$10 billion within the next 2-3 years, while maintaining its risk profile as low as possible through risk management. This year alone we have added five new member countries, making 32 member countries in total, reflecting our commitment to make AFC a truly pan-African institution. We also recently successfully issued a Eurobond at its lowest yield to date thanks to our funding in the financial markets.”
Osam Iyahen, Senior Director, Africa Finance Corporation (AFC)