Africa Finance Corporation Plans $3B Investment Next Year

AFRICAN STOCKS AND FINANCEDecember 9, 2024 at 9:12 AM UTC

TLDR

The Africa Finance Corporation (AFC) will invest over $3 billion in projects.
Investments will focus on infrastructure to boost key industries and support the AfCFTA.
AFC was established in 2007 to drive development in Africa, leveraging the continent’s resources.

The Africa Finance Corporation (AFC) will invest over $3 billion in projects across the continent next year, focusing on infrastructure to boost key industries and support the African Continental Free Trade Area (AfCFTA).

CEO Samaila Zubairu highlighted priority projects, including a major railway linking Zambian mines to Angola’s Lobito port, alongside investments in agriculture, electrification, eco-tourism, food security, and renewable energy.

“Our goal is to build infrastructure that enables industrialization, tackles poverty, and creates jobs,” Zubairu said on Bloomberg Television. AFC was established in 2007 to drive development in Africa, leveraging the continent’s resources, including battery minerals critical for renewable energy.

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Key Takeaways

AFC’s investments align with AfCFTA’s goal of uniting Africa’s 1.3 billion people into a $3.4 trillion single market. With a shift toward electric trucks powered by Africa’s battery-mineral supply chain, AFC aims to position the region as a leader in green logistics and sustainable industrial development. These initiatives could enhance Africa’s appeal to global investors from the US, EU, and beyond.

Finance

AFC

Infrastructure Finance

AfCFTA

Samaila Zubairu

Zambia

Mining

Lobito Port