African Finance Corporation
Last updated on 29 May 2024

Key facts


Multilateral DFI established by sovereign African states to provide pragmatic solutions to Africa's infrastructure deficit and challenging operating environment

3a Osborne Road
Ikoyi
Lagos State
Nigeria

+234 1 279 9600

www.africafc.org/
MIXED
2007
Credit rating (Moody's)
A3
Foreign currency

Products


  • Products include:
    • Senior debt
    • Mezzanine and subordinated debt
    • Product solutions: Sovereign lending, guarantees, trade finance, corporate finance, A/B bond
  • Products include:
    • Project development equity
    • Equity
    • Quasi-equity
  • Advisory products include:
    • Fund management advisory services
    • Capital restructuring
    • Capital raising
    • M&A
    • Policy recommendation and review
  • Treasury products include:
    • Fixed income
    • Money market
    • Commodity hedging
    • Commodity swap
  • Trade finance products include:
    • Bilateral credit lines
    • Pre-export and commodity trade finance
    • Funded and unfunded risk participations
    • Syndication, trade finance
  • Project development:
    • AFC can provide end-to-end project coordination as lead developer, financial and structuring advice as co-developer, and advisory
    • Exposure to a single project ranges from USD 1 million to USD 20 million
    • Project development financing provided via balance sheet. This can be in the form of a corporate project development facility, project development loan or project development equity
  • Financial institutions and trade
    • Provides short and medium to long term financing solutions to African financial institutions
    • Structures can be funded (eg. trade loans, lines of credit, etc), or unfunded (payment risk cover including LC confirmation, IRUs, SBLCs for Legal Lending Limit relief, etc).
    • Tenor: 1 to 10 years
    • Use of proceeds: On-lending to AFC’s key sectors, as well as to health, SMEs, agri-processing, etc.
    • Maximum exposure: Depends on the obligor FI’s risk rating and shareholders’ funds, as well as AFC’s risk concentration limits

Policies


  • AFC’s project development capital is limited to funding third party advisory services and expenses required to take projects from concept to bankability, including:
    • Financial & commercial feasibility, market assessment and structuring
    • Environmental scoping and impact assessments
    • Documentation and negotiation of project and financing agreements
    • Financial modelling and financial advisory
    • Technical design
    • Resource assessment review
    • Legal advisory

News


  • 2024: AFC bestowed Panafrican Champion at the 2024 CEO Forum Awards
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