Africa Finance Corporation Named Panafrican Champion at 2024 Africa CEO Forum

The annual CEO Forum Awards ceremony celebrates excellence in leadership and innovation among Africa's leading businesses and executives.

At the recent 2024 Africa CEO Forum held in Kigali, Rwanda, Africa Finance Corporation (AFC) emerged as the recipient of the esteemed Panafrican Champion award. This recognition underscores AFC's remarkable contributions to the development and integration of infrastructure and industrial value chains across the African continent, solidifying its position as a key driver of sustainable economic growth.

The annual CEO Forum Awards ceremony celebrates excellence in leadership and innovation among Africa's leading businesses and executives. This year's event brought together prominent industry leaders, policymakers, and thought leaders to acknowledge achievements that are reshaping the African business landscape.

AFC's receipt of the Panafrican Champion Award highlights its dedication to spearheading projects aimed at addressing Africa’s critical infrastructure needs. Over the past year, AFC has been involved in several noteworthy initiatives that significantly contribute to alleviating Africa’s infrastructure deficit. These projects include Djibouti’s inaugural wind farm, where AFC serves as the lead developer, supporting efforts to make Djibouti the first African nation entirely reliant on renewable energy sources. Additionally, AFC is leading the Lobito Corridor rail project, collaborating with the US, European Union, and governments of Angola, DRC, and Zambia to facilitate crucial logistics that support value-added processing and industrialization, thereby connecting trade flows between the Atlantic and Indian oceans. Alongside partner Arise IIP, AFC is financing industrial activities, promoting local value creation through export-focused industrial parks, and fostering rapid livelihood improvement through job creation and regional prosperity. Presently, AFC and Arise IIP's Special Economic Zones span across 10 West and Central African countries, focusing on vital sectors such as food security, textiles, and minerals.

Expressing gratitude for the prestigious award, Samaila Zubairu, President & CEO of AFC, stated, “We are truly honored to receive this prestigious award from an institution of such high repute like the Africa CEO Forum. This recognition reflects AFC’s commitment to driving transformative change across Africa beyond merely financing infrastructure solutions. Our mission is to continue spearheading critical infrastructure projects that accelerate rapid industrialization, promote the beneficiation of Africa’s abundant natural resources, and create local employment opportunities for a more prosperous Africa.”

Over the past year, AFC has made significant strides, solidifying its position as a pivotal force in Africa’s infrastructure and financial landscape. The Corporation successfully raised approximately US$ 2.4 billion from global capital markets, expanded its membership to 43 countries, and diversified its shareholder base, with Egypt becoming its first North African shareholder and Turk Eximbank its first non-regional shareholder. These developments underscore AFC’s unwavering commitment to Africa’s economic advancement and highlight the Corporation’s essential role in enhancing the continent's infrastructure and fostering industrial growth.