First Independent Mena Newspaper
Misjudged risk assessments and persistent financial bias are costing African countries a staggering $75 billion annually in inflated borrowing costs and lost revenues, according to the Africa Finance Corporation (AFC). AFC President Samaila Zubairu described the misperception as a “prejudice premium,” arguing that Africa’s default rates are “really, really exaggerated.” Research by Moody’s Ratings supports […]
Xlinks First Ltd. has confirmed the news reports announcing a $14.1 million investment of Africa Finance Corporation (AFC), the leading multilateral financial institution, in the Morocco-UK Power Project expected to provide affordable, reliable, clean energy from Morocco to Britain within a decade. The support of AFC of Xlinks project shows the trust Morocco enjoys on […]
African countries must stop selling land on “depreciated” carbon credit market, and instead the continent should strive to become the global centre for high-value, high-integrity carbon credits, according to a new report from the Africa Finance Corporation (AFC). Released at COP28 by the Nigeria-based AFC, the positioning paper warns that at a critical moment in […]
The two-day Global Gateway Forum that wrapped up in Brussels on Thursday (26 October 2023) saw the European Union sign three strategic partnerships with its partners to develop critical raw materials value chains and boost transport connectivity. During the event, the 27-member bloc signed three Memoranda of Understanding (MoU) — for a partnership on critical […]
Gemcorp Holdings Ltd. (GHL), Africa Finance Corporation (AFC) and African Export-Import Bank (Afreximbank) have announced the financial close of Cabinda Oil Refinery in Angola with a US$335-million project financing facility. The announcement comes as the project spearheaded by Gemcorp, a UK-based asset management company, to build a refinery in Angola has been well behind schedule, […]
The Africa Finance Corporation (AFC) has approved a bridge loan facility of $170 million for the construction of the 44 MW Singrobo-Ahouaty hydropower projects in Côte d’Ivoire. The deal was concluded in mid-December, when a first disbursement was made for the project, in which the AFC has also invested equity. “As our first equity investment […]