Africa Finance Corporation, a pan-African multilateral development financial institution, has secured a landmark $2 billion syndicated loan facility, marking the largest fundraising transaction in the institution’s history and reinforcing investor confidence in Africa’s long-term infrastructure and industrial development prospects.

The financing, led by Barclays, Commerzbank, First Abu Dhabi Bank PJSC, and FirstRand Bank, exceeded AFC’s original target of $1.6 billion after attracting strong demand from international and regional lenders.

The transaction comes at a time when African governments and development institutions are seeking new sources of capital to bridge the continent’s infrastructure financing gap and support economic transformation.

Funding Africa’s industrial future

According to AFC Chief Executive Officer, Samaila Zubairu, the new capital will support large-scale infrastructure planning, industrial development, and strategic economic corridors across Africa.

“The capital we raise goes into African infrastructure build-out and industrialization, ultimately creating jobs and supporting economic growth across the continent,” Zubairu said.

The AFC is also working with stakeholders to strengthen financial frameworks that encourage more African capital to remain within the continent and be invested in critical development projects.

Backing transformational projects

The institution has built a strong reputation for financing some of Africa’s most significant industrial and infrastructure projects. Among its notable investments are the Dangote Refinery in Nigeria and one of Africa’s largest copper smelting facilities in the Democratic Republic of the Congo.

These investments reflect AFC’s strategy of supporting projects capable of boosting industrial capacity, strengthening supply chains, and driving economic diversification across African markets.

A key player in African development finance

Established in 2007 and headquartered in Ikoyi, Africa Finance Corporation was created to address Africa’s infrastructure deficit through private-sector-led investments.

The institution provides debt, equity, and advisory services across key sectors including power, transportation, telecommunications, natural resources, agriculture, renewable energy, and digital infrastructure.

Since inception, AFC has invested more than $19 billion across 36 African countries. Supported by 48 African member states alongside sovereign wealth funds, central banks, and institutional investors, the corporation continues to play a pivotal role in financing projects that support sustainable economic growth and regional integration.