Africa Finance Corporation (AFC), a provider of infrastructure solutions, declared on December 29 that it had received an undisclosed equity investment from Turk Eximbank. The Republic of Turkey’s investment was made by Turk Eximbank.
In a statement announcing the agreement, the AFC stated, “With this partnership, we aim to continue building the infrastructure that will foster industrialization, value capture and retention in Africa as well as create quality jobs.”
Samaila Zubairu, President & CEO of AFC, stated, “This investment not only validates our efforts in addressing Africa’s infrastructure challenges but also underscores Türkiye’s commitment to fostering south-south cooperation.”
With this investment, AFC strengthens its already solid relationships with top engineering, procurement, and construction (EPC) companies in Turkey for the financing and development of game-changing infrastructure projects in Africa.
“This significant investment demonstrates our commitment to enabling meaningful partnerships that will offer vital assistance to Turkish exporters and construction firms, thereby accelerating sustainable economic growth and development in both areas, a partnership that represents a deep commitment to cultivating synergies between Türkiye and Africa,” stated Turk Eximbank CEO Ali Güney in a statement announcing the agreement.
AFC is an investment-grade organization with an A3 rating from Moody’s that has raised money in a variety of markets, including the US, UK, UAE, Europe, Japan, and South Korea.
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