Africa Finance Corporation (AFC) (www.AfricaFC.org), the continent’s leading infrastructure solutions provider, has been honoured with three prestigious accolades, further underscoring its impact in shaping Africa’s financial landscape. At the IJGlobal Awards 2024 held recently in London, AFC was named Guarantor of the Year, Africa, and also received the Market Innovation Award, Africa. The following evening, AFC was recognised with the African Deal of the Year at the Global Capital Syndicated Loan Awards in London. The trio of awards showcase AFC’s pioneering role in infrastructure financing, risk mitigation, and innovative financial solutions that drive sustainable economic growth across Africa.
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AFC’s triple win highlights its lead role in arranging a record €2 billion syndicated facility for the Bank of Industry (BOI), the largest capital raise in the history of African development finance institutions. AFC served as Global Coordinator, Lead Co-Arranger, Underwriter, Bookrunner, and Guarantor in the successful syndication.
Leveraging its structuring and credit enhancement, AFC assembled a consortium of international financial institutions for the facility, including Standard Chartered Bank, African Export-Import Bank, First Abu Dhabi Bank PJSC, FirstRand Bank Limited (through its Rand Merchant Bank division – London Branch), Mashreqbank PSC, SMBC Bank International PLC, Absa Bank (Mauritius) Limited, Absa Bank Limited, and the Export-Import Bank of India (London Branch).
AFC has consistently led the way in unlocking international capital markets for African institutions. In 2023, AFC supported the Egyptian Government as Re-Guarantor on a JPY75 billion Samurai Bond Issue, exemplifying AFC’s role as a key enabler of global financing for African sovereigns. This transaction won AFC the Innovation of the Year Award (MENA) at the IJGlobal Awards 2023.
Earning Guarantor of the Year, the Market Innovation Award, and African Deal of the Year reaffirms AFC’s expertise in attracting global capital to African markets and its commitment to structuring innovative financing solutions that bridge the continent’s infrastructure gap. AFC’s investment strategies continue to drive economic resilience and industrialization across the continent.
“We are honored to receive these prestigious awards, which reflect AFC’s ongoing mission to unlock Africa’s infrastructure potential through financial innovation,” commented Samaila Zubairu, President & CEO of Africa Finance Corporation. “These recognitions further validate our credentials as a trusted partner in mobilizing capital to drive sustainable development across the continent. We extend our gratitude to our partners and stakeholders whose collaboration has been instrumental in achieving these milestones.”
Banji Fehintola, Executive Director and Head of Financial Services at AFC, said: “These recognitions from IJGlobal and Global Capital are a testament to AFC’s leadership in structuring innovative financial solutions that de-risk investments and attract international capital to Africa. The success of the €2 billion syndicated facility for BOI demonstrates our ability to mobilize global funding at scale, supporting economic development and industrialization across the continent.”
The IJGlobal Awards celebrate outstanding achievements in global greenfield and refinancing deals across various sectors that shape the infrastructure and energy landscape, while the Global Capital Syndicated Loan Awards honor the most significant and innovative syndicated loan transactions worldwide.
Distributed by APO Group on behalf of Africa Finance Corporation (AFC).
Media Enquiries:
Yewande Thorpe
Communications
Africa Finance Corporation
Mobile: +234 1 279 9654
Email: yewande.thorpe@africafc.org
About AFC:
AFC was established in 2007 to be the catalyst for pragmatic infrastructure and industrial investments across Africa. AFC’s approach combines specialist industry expertise with a focus on financial and technical advisory, project structuring, project development, and risk capital to address Africa’s infrastructure development needs and drive sustainable economic growth.
Seventeen years on, AFC has developed a track record as the partner of choice in Africa for investing and delivering on instrumental, high-quality infrastructure assets that provide essential services in the core infrastructure sectors of power, natural resources, heavy industry, transport, and telecommunications. AFC has 45 member countries and has invested US$15 billion across Africa since inception.
