The Africa Finance Corporation (AFC) has secured a record-breaking $1.5 billion syndicated loan from a consortium of international banks. This substantial capital infusion, which notably exceeded its initial target of $1.3 billion, will be channeled into the organization’s general portfolio to finance crucial infrastructure projects across the continent, such as the Kamoa-Kakula Copper Complex in the Democratic Republic of Congo. Major lenders such as China’s Bank of Communications, Kuwait’s Burgan Bank, Egypt’s Export Development Bank, and Hua Nan Commercial Bank of Hong Kong backed the deal, underscoring AFC’s global appeal. Since its launch in 2007, the corporation has raised over $14 billion for projects that have generated 7 million jobs, reinforcing its role as a key driver of Africa’s economic growth.
SEMAFOR
