Business a.m.
Africa Finance Corporation (AFC), the continent’s leading infrastructure solutions provider, has been bestowed the Panafrican Champion award at the just concluded 2024 Africa CEO Forum in Kigali, Rwanda. The accolade recognises AFC’s outstanding contribution to the instrumental development and integration of infrastructure and industrial value chains across the African continent, reinforcing its role as a pivotal player in driving sustainable economic growth.
The CEO Forum Awards, held annually, celebrates excellence in leadership and innovation among Africa’s foremost businesses and leaders. This year’s ceremony brought together an illustrious gathering of industry captains, policymakers, and thought leaders to recognise achievements that are transforming the African business landscape.
AFC’s receipt of the Panafrican Champion Award underscores its commitment to pioneering projects that address the continent’s critical infrastructure needs. Some notable projects over the past year that contribute significantly to tackling Africa’s infrastructure deficit include Djibouti’s first wind farm, with AFC as lead developer supporting plans to become the first African country wholly reliant on renewable sources for energy, and the Lobito Corridor rail project, with AFC again as lead developer working alongside the US, European Union and governments of Angola, DRC and Zambia to facilitate critical logistics to support value added processing and industrialisation, connecting the trade flows between the Atlantic and Indian oceans.
Alongside its partner Arise IIP, AFC is financing industrial activity, enhancing local value creation through export focused industrial parks and enabling rapid livelihood improvement through job creation and regional prosperity. The AFC and Arise IIP Special Economic Zones are now present to 10 West and Central African countries, focusing on essential sectors including food security, textiles and minerals.
Samaila Zubairu, AFC President & CEO, remarked that the corporation is truly honoured to receive the prestigious award from an institution of such high repute like the Africa CEO Forum.
Zubairu noted: “This recognition is testament to the fact that AFC’s impact goes beyond the mere financing of infrastructure solutions in our core sectors of power, natural resources, transport and logistics, heavy industry, and technology, we aim to activate transformative change across Africa.
“Our mission is to continue to drive critical infrastructure projects that advance rapid industrialisation, support the beneficiation of Africa’s abundant natural resources and create local jobs for a more prosperous Africa.”
AFC has achieved notable progress in the last year, reinforcing the Corporation’s role as a pivotal force in Africa’s infrastructure and financial landscape. The Corporation successfully raised funds of about $ 2.4 billion from global capital markets, expanded its membership to 43 countries and diversified its shareholder base with Egypt as its first North African shareholder and Turk Eximbank as its first non-regional shareholder. These developments affirm AFC’s unwavering commitment to Africa’s economic evolution and underscore the Corporation’s critical contribution to the continent’s infrastructural enhancement and industrial growth.
