Africa Finance Corporation Plans $3b Investment Next Year

9 December 2024
Daba Finance (Abidjan)
  • The Africa Finance Corporation (AFC) will invest over $3 billion in projects.
  • Investments will focus on infrastructure to boost key industries and support the AfCFTA.
  • AFC was established in 2007 to drive development in Africa, leveraging the continent's resources.

The Africa Finance Corporation (AFC) will invest over $3 billion in projects across the continent next year, focusing on infrastructure to boost key industries and support the African Continental Free Trade Area (AfCFTA).

CEO Samaila Zubairu highlighted priority projects, including a major railway linking Zambian mines to Angola's Lobito port, alongside investments in agriculture, electrification, eco-tourism, food security, and renewable energy.

"Our goal is to build infrastructure that enables industrialization, tackles poverty, and creates jobs," Zubairu said on Bloomberg Television. AFC was established in 2007 to drive development in Africa, leveraging the continent's resources, including battery minerals critical for renewable energy.

You can follow Daba's reporting on Africa on WhatsApp. Sign up here

Key Takeaways

AFC's investments align with AfCFTA's goal of uniting Africa's 1.3 billion people into a $3.4 trillion single market. With a shift toward electric trucks powered by Africa's battery-mineral supply chain, AFC aims to position the region as a leader in green logistics and sustainable industrial development. These initiatives could enhance Africa's appeal to global investors from the US, EU, and beyond.

Read the original article on Daba Finance.

Tagged:
Copyright © 2024 Daba Finance. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.

AllAfrica publishes around 600 reports a day from more than 100 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.