Africa Finance Corporation Secures USD 100 Million from FinDev Canada

Africa Finance Corporation (AFC) has announced a landmark transaction in securing a USD 100 million loan facility from FinDev Canada. This marks AFC's inaugural venture into the Canadian market, signaling a significant partnership with Canada's bilateral Development Finance Institution. The 10-year loan aims to bolster AFC's funding base to support renewable energy and low-carbon transport projects across Sub-Saharan Africa.

This facility underscores the confidence of international investors in AFC's ability to channel sustainable capital into Africa’s infrastructure. AFC is viewed as a trusted platform, attracting partners like FinDev Canada who seek to deliver impactful, climate-aligned financing. The transaction not only strengthens AFC’s funding diversity but also enhances North America’s stake in Africa's development.

AFC plans to use the funds for innovative financing, tackling climate challenges, and promoting sustainable economic growth, furthering its role in infrastructure development across the continent.