AFC Secures Three Prestigious Awards, Reinforcing Leadership in Infrastructure Financing

AFC acted as the Global Coordinator, Lead Co-Arranger, Underwriter, Bookrunner, and Guarantor in this landmark transaction, assembling a consortium of prominent international financial institutions.

Africa Finance Corporation (AFC) (www.AfricaFC.org), the continent’s premier infrastructure solutions provider, has achieved a remarkable milestone by securing three esteemed awards, further solidifying its pivotal role in Africa’s financial ecosystem. At the IJGlobal Awards 2024 in London, AFC was recognized as Guarantor of the Year, Africa, and honored with the Market Innovation Award, Africa. Adding to its triumph, AFC was also celebrated at the Global Capital Syndicated Loan Awards with the African Deal of the Year accolade, showcasing its unwavering commitment to pioneering financial solutions and driving sustainable economic growth across the continent.

AFC’s Landmark Role in Africa’s Largest Development Finance Syndication

A key highlight of AFC’s recent achievements is its instrumental role in orchestrating a record-breaking €2 billion syndicated facility for Nigeria’s Bank of Industry (BOI), marking the largest capital raise in the history of African development finance institutions. AFC acted as the Global Coordinator, Lead Co-Arranger, Underwriter, Bookrunner, and Guarantor in this landmark transaction, assembling a consortium of prominent international financial institutions. These institutions included:

• Standard Chartered Bank
• African Export-Import Bank (Afreximbank)
• First Abu Dhabi Bank PJSC
• FirstRand Bank Limited (via Rand Merchant Bank division – London Branch)
• Mashreqbank PSC
• SMBC Bank International PLC
• Absa Bank (Mauritius) Limited & Absa Bank Limited
• Export-Import Bank of India (London Branch)

This financing initiative exemplifies AFC’s expertise in risk mitigation and credit enhancement, demonstrating its ability to mobilize international capital at scale while reinforcing economic resilience across Africa.

Recognition of AFC’s Market Leadership and Financial Innovation

The IJGlobal Awards, renowned for recognizing outstanding achievements in global greenfield and refinancing transactions, honoured AFC for its groundbreaking contributions to Africa’s infrastructure financing landscape. The Global Capital Syndicated Loan Awards, which celebrate the most innovative and impactful syndicated loan deals worldwide, also acknowledged AFC’s excellence in structuring complex transactions that attract global investment.

AFC’s achievements extend beyond this latest set of awards. In 2023, the corporation played a crucial role as Re-Guarantor for Egypt’s JPY75 billion Samurai Bond Issue, a deal that earned AFC the Innovation of the Year Award (MENA) at the IJGlobal Awards 2023. This transaction underscored AFC’s ability to unlock capital from international debt markets and foster global investor confidence in African financial instruments.

A Testament to AFC’s Commitment to Africa’s Economic Development

Commenting on the latest awards, Samaila Zubairu, President & CEO of Africa Finance Corporation, expressed gratitude for the recognition:

“We are honored to receive these prestigious awards, which reflect AFC’s ongoing mission to unlock Africa’s infrastructure potential through financial innovation. 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.”

Echoing this sentiment, Banji Fehintola, Executive Director and Head of Financial Services at AFC, highlighted AFC’s leadership in de-risking investments for global financiers:

“These recognitions from IJGlobal and Global Capital affirm 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.”

AFC’s Future Commitment to Africa’s Infrastructure Growth

AFC continues to spearhead groundbreaking financial solutions aimed at addressing Africa’s critical infrastructure gap. By fostering strategic collaborations with global investors and developing innovative financing mechanisms, AFC is not only unlocking capital markets but also driving long-term economic resilience and industrialization.

The corporation remains dedicated to bridging Africa’s infrastructure deficit, ensuring sustainable growth, and fostering an investment-friendly environment that attracts both local and international stakeholders.

As AFC continues to lead Africa’s financial transformation, these latest awards reaffirm its position as the continent’s foremost infrastructure finance institution, dedicated to catalyzing economic prosperity through innovative, scalable, and sustainable solutions.