Africa Finance Corporation

We are #hiring Intern, Treasury - Provide support in structuring and executing transactions involving derivatives, structured credit, and financing solutions for clients/projects. - Conduct industry and market research to assist with business development efforts. - Assist with the KYC documentation review/on-boarding process for new counterparties and relationship banks end to end. - Support the team in negotiating standard agreements (such as facility agreements, ISDA/CSAs, GMRAs) with eligible lenders and counterparties. - Design, maintain and improve financial models to evaluate transactions. Fluency in written and spoken English is mandatory while oral and written fluency in other international languages will be an added advantage. Interested candidates should send their CVs to careers@africafc.org and indicate the Job Title and Reference as the subject for the application.  Application closes 18 October 2024.

Africa Finance Corporation had the pleasure of welcoming the Ambassador of Zimbabwe to Nigeria, H.E. Maxwell Ranga, at our offices. The Ambassador delivered the Instrument of Ratification on behalf of the Zimbabwean government, marking a significant milestone in our ongoing partnership. We were also honoured to present the Share Certificate to the Ambassador for onward delivery to the Governor of the Reserve Bank of Zimbabwe , symbolizing Zimbabwe's move from membership to shareholding in AFC. "Moving beyond membership to shareholding shows our commitment to enhancing our nation's economic landscape. This milestone signifies a cornerstone in our strategy to empower not only our country but to contribute to Africa's development," said Governor of the Reserve Bank of Zimbabwe, Dr. John Mushayavanhu. Zimbabwe has been a valued member of AFC since 2018, and this advancement reinforces our mutual commitment to driving sustainable development across Africa. We are optimistic that this strengthened alliance will yield substantial benefits for Zimbabwe and set a precedent for future partnerships across the continent. We look forward to future collaborations that empower our nations and contribute to the broader growth and integration of Africa.

"AFC prides itself as a market leader, and for us, beyond our ability to raise funding, what is equally important—if not more so—is our ability to open and be a gateway for other issuers that will come after us.....The fact that we were able to price at a concession and within our current secondary curve is encouraging not just for AFC but for several other issuers that can access the market.” Modupe Famakinwa, Senior Vice President, Head of Corporate Funding and Investor Relations at Africa Finance Corporation, discusses its return to the global debt markets with a US$500 million bond, which attracted strong interest from Europe, Asia, the US, and the Middle East, and was over two and a half times oversubscribed, in an interview with CNBC Africa. Watch the full interview here: https://lnkd.in/dgRVGue7

"It takes about 45 days for a truck to transport products like cobalt from the mines to the ports. It will take 45 hours when we build that railway." Sameh Shenouda, Executive Director and Chief Investment Officer at AFC, in a radio interview with Aurélie Kalenga on Channel Africa's Africa Rise and Shine. Sameh discussed how the Africa Finance Corporation (AFC) is advancing the Lobito Rail Project following the recent signing of concession agreements with the governments of Angola and Zambia. This transformative initiative is projected to generate $3 billion in economic benefits, reduce emissions by 300,000 tons per year, and create over 1,250 jobs. The Lobito Rail Project marks a significant step toward enhancing regional connectivity and unlocking Africa's economic growth. Listen to the full interview here:  https://lnkd.in/dqijjf_t

“Africa's tech sector is booming, yet challenges like restrictive regulations and inadequate infrastructure hinder its full potential.” Amadou Wadda, Senior Director and Head of Portfolio Management and Optimization at AFC, discusses our partnership with Itana to create a digital economic zone supporting tech, finance, and service-based businesses across Africa in an interview with CNBC Africa. Watch the full interview here: https://lnkd.in/e7TEirTb

Africa holds immense opportunity with its fast-growing economies, youthful population and vast resource wealth. Yet, significant challenges like global economic uncertainty and funding shortages persist. How can investors bridge the gap between such opportunities and challenges to unlock the continent's full investment potential? These topics will be explored today at 12:00  CET at the Nordic-African Business Summit, hosted by the Norwegian-African Business Association (NABA), with Sameh Shenouda, Executive Director & Chief Investment Officer at AFC, speaking in the plenary session titled “Investing in a New World Order.” More information here: https://bit.ly/47Prik4 

Samaila Zubairu, President & CEO of AFC, said: “I would like to thank the Board and Management for their unwavering support in our shared mission to transform African economies. Our journey towards capturing greater value within the continent, by converting raw materials into intermediate and finished goods, has already shown significant progress in three countries, with an expanding pipeline of projects in ten more. This success reinforces our commitment to further invest and support this important initiative, including our latest equity investment of $143 million. We are also delighted to formally welcome Afreximbank-FEDA as a new shareholder, having previously supported us through debt financing. Their participation, alongside other prospective investors, is a testament to the strength and de-risked nature of our ecosystem value chain industrial platform. We look forward to continuing our partnership to drive industrialization and sustainable economic growth across Africa."

AFC announces a successful return to the global debt markets with a US$500 million bond. This 5-year bond, with a 5.55% interest rate, attracted strong interest from Europe, Asia, the US, and the Middle East, and was over two and a half times oversubscribed—showing the global confidence in AFC’s mission. The Corporation’s consistent A3 credit rating, upheld since 2014 and recently reaffirmed by Moody’s, with a rating outlook change from Negative to Stable, further boosted the bond’s appeal among institutional investors. The funds raised will help AFC continue financing important infrastructure projects across Africa, driving sustainable development and economic growth on the continent. Read more:https://lnkd.in/dmqGvZey

Angola, Africa’s second-largest oil producer, continues to expand its energy sector, with independent actors playing a critical role in this growth. Join Taiwo Okwor, Vice President, Investment, tomorrow at 11:10 WAT as she delves into how investments and programs led by independent actors are boosting project development, driving oil production, and expanding the industry. Their influence will be the focus of the panel discussion titled “The Evolution of the Angolan Upstream Sector” at the Angola Oil & Gas 2024 Conference and Exhibition. Register here: https://lnkd.in/d7NjTEqU

Last week Friday at UNGA79, we signed an important agreement to partner with Itana for the creation of Africa’s first Digital Economic Zone. This marks a significant step towards supporting Africa’s growing technology ecosystem, providing a platform for innovation and sustainable economic development. The project, located in Lagos, Nigeria, will offer state-of-the-art digital infrastructure, including data centers, and a business-friendly environment for tech firms, startups, and entrepreneurs. Through this collaboration, we aim to create new opportunities and strengthen Africa's role in the global digital economy. Learn more about the partnership here: https://lnkd.in/dXyVqnUV