Africa Finance Corporation:Egypt becomes first North African shareholder

Egypt has joined Africa Finance Corporation, the continent’s leading infrastructure solutions provider, as the first North African sovereign shareholder, further diversifying AFC’s expanding equity investor base.

« An AFC Member State, Egypt’s equity commitment and its imminent representation on the AFC Board of Directors enhances the Corporation’s pan-African spread of shareholders and diversified Board and management, which now includes governments, development finance institutions and institutional investors. In 2022 alone, AFC onboarded Sierra Leone, Democratic Republic of Congo, Cote d’Ivoire, South Africa’s Public Investment Corporation, and the pension funds of Mauritius and Seychelles as shareholders. Other sovereign shareholders include Ghana, Gabon, Togo and Guinea », said the Institution in a press release.

A growing and diversified shareholder base alongside profitable returns and consistent dividends are behind AFC’s A3 investment-grade credit rating, which the Corporation leverages to fulfil its mandate to close Africa’s infrastructure and industrial financing gap. With a membership of 39 countries now and total investments of US$11.5 billion over 16 years, the Corporation continues to deliver on its promise to support sustained robust growth and development in Africa.