AFC Receives Equity Investment from Rawbank to Boost Infrastructure Development

With nearly two decades of dedication to Africa’s economic transformation and sustainable development, AFC views this investment as a key milestone.

Africa Finance Corporation (AFC), the continent’s premier infrastructure solutions provider, has announced a significant equity investment from Rawbank, a leading financial institution in the Democratic Republic of Congo (DRC). This new investment aligns with AFC’s strategy to mobilize African capital, diversify its capital base, and advance its mission to address Africa’s substantial infrastructure and industrialization needs.

With nearly two decades of dedication to Africa’s economic transformation and sustainable development, AFC views this investment as a key milestone. The capital injection from Rawbank not only strengthens AFC’s financial position but also enhances its influence and operational reach across the continent. This follows a similar capital infusion from the DRC Government in 2022, highlighting AFC’s expanding presence in Central Africa.

AFC has already mobilized over US$200 million in investments within the DRC, focusing on sectors such as natural resources, power, transport, and heavy industries. The Corporation has an investment pipeline exceeding US$850 million for the near to medium term. Recent major projects include the joint development of a 200MW solar farm with Sky Power Global, leading the development of the Lobito Corridor to connect the DRC and Zambia with global markets through Angola, and a mass transit project in Kinshasa with Trans Connexion Congo (TCC) to enhance mobility across the DRC.

Mustafa Rawji, CEO of Rawbank, highlighted the importance of this investment: “Rawbank’s equity investment in AFC is a crucial step for our bank and the DRC. It marks our first equity investment in a multilateral financial institution and is expected to enhance our financial capabilities, enabling us to support large-scale projects that can transform the DRC’s economic landscape. We are proud to partner with an institution that shares our vision of growth and sustainability.”

Samaila Zubairu, President & CEO of AFC, welcomed Rawbank as a new equity shareholder, stating, “It is vital for African institutions to act as catalysts for transformation on the continent. This investment underlines our shared commitment to boosting Africa’s role in global growth, and supports AFC’s efforts to drive economic development and industrial progress.”

AFC’s diverse equity investor base includes African Sovereigns, Pension Funds, and Insurance firms, all crucial in mobilizing the capital needed for the continent’s development. Last year, AFC expanded its shareholder base to include Côte d’Ivoire, Benin, and Botswana, along with African institutional investors like Caisse Nationale de Prévoyance Sociale (CNPS) from Cameroon and SBM Capital Market Securities Ltd. from Mauritius. Other shareholders include Egypt, Sierra Leone, Seychelles, and Turkey, which became AFC’s first non-regional shareholder through Turk Exim Bank in 2023.