Infrastructures : AFC to invest $3 billion in 2024 to align with AfCFTA objectives

The Africa Finance Corporation (AFC) plans to invest over $3 billion in 2024 to support strategic projects across the continent. The focus will be on infrastructure, including a major railway linking Zambia’s mines to Angola’s Lobito port, as well as investments in agriculture, electrification, ecotourism, food security, and renewable energy.

Samaila Zubairu, AFC’s CEO, emphasized the transformative impact of these projects on industrialization, poverty reduction, and job creation, aligning AFC’s efforts with the goals of the African Continental Free Trade Area (AfCFTA). « We are building infrastructure to position Africa as a leader in sustainable industrial development and green logistics, » he said.

By leveraging Africa’s resources, particularly critical battery minerals, the AFC aims to attract global investors from the U.S., EU, and beyond, furthering the continent’s economic integration and growth.