Africa Finance Corporation is a pan-African investment-grade multilateral development financial institution established in December 2007 via a treaty amongst sovereign African states to provide pragmatic solutions to Africa’s infrastructure deficit and challenging operating environment. Founded by Austine Ometoruwa (former Head of Citibank Africa Investment Bank) and Chukwuma Soludo (then Governor of the Central Bank of Nigeria), AFC was launched with US$2 billion in authorised share capital and an explicit mandate to catalyse private-sector-led infrastructure investment across Africa.
Headquartered in Lagos, Nigeria, AFC bridges the infrastructure investment gap by providing debt and equity finance, project development, technical and financial advisory services, and risk capital. The Corporation operates through a wholly owned subsidiary, AFC Equity Investments Limited, established in Mauritius in 2013 as an investment vehicle for holding AFC’s equity investments. AFC has achieved remarkable growth over 18 years, becoming the continent’s leading infrastructure solutions provider. As of December 2024, the Corporation has invested over US$17 billion in more than 160 transformative projects across 36 African countries, with US$15 billion disbursed to date. The Corporation maintains an A3/P2 (Stable outlook) investment-grade credit rating from Moody’s Investors Service, making it the second or third-highest-rated multilateral financial institution in Africa.
AFC’s investment approach combines specialist industry expertise with financial and technical advisory capabilities, project structuring, project development, and risk capital deployment. The Corporation offers a comprehensive range of tailor-made financing solutions, including greenfield equity, buy-out capital, project finance, bridge loans, mezzanine instruments, structured debt, acquisition financing, and royalty and streaming arrangements. AFC specialises in de-risking and distributing capital to deliver well-structured, bankable infrastructure projects through its unique value proposition, which covers three complementary service areas: principal investing, project development, and financial advisory.
AFC operates with the operational agility of a private institution whilst maintaining the development mandate of a multilateral, employing over 811 professionals across its pan-African footprint. The Corporation’s approach is grounded in pragmatic solutions that de-risk projects, crowd in private capital, enable strategic exits, and recycle finance into new transformative projects—demonstrating that infrastructure investments can deliver both development impact and competitive returns to shareholders.
Investment Amount
Typically US$30 million minimum per transaction (consistent with Africa Investment Forum boardroom eligibility); investments range from US$50 million to US$700+ million for major projects; equity investments through AFC Equity Investments Limited; flexible structuring across debt, equity, and mezzanine instruments based on project requirements
Target
- Large-scale infrastructure projects across Africa
- Greenfield and brownfield investments
- Public-private partnerships (PPP);
- Infrastructure assets requiring project development and de-risking
- Companies and projects providing essential services across core infrastructure sectors
- Bankable, transformational projects with substantial measurable regional or sectoral benefits
- Climate-resilient and sustainable infrastructure investments
Focus Areas
- Power (renewable and conventional energy, on-grid, off-grid, and direct-to-consumer solutions)
- Transport and Logistics (rail, ports, roads)
- Natural Resources (oil, gas, mining, copper, critical minerals for energy transition)
- Telecommunications (fibre-optic infrastructure, digital connectivity)
- Heavy Industries (manufacturing, industrial platforms)
- Climate Resilience and Adaptation
- Green Financing
- Renewable Energy (hydropower, wind, solar)
- Trade Finance
- Industrial Infrastructure
- Economic Integration
- Regional Connectivity
