Investors showcase projects requiring $13 billion at AFC Live Abuja

15 May 2017
Financial Nigeria


AFC’s summit aims to facilitate more capital towards addressing Africa’s pressing infrastructure needs.

Andrew Alli, President and CEO, Africa Finance Corporation

The African Finance Corporation said today that investors showcased 12 commercial projects that require up to $13 billion investment on the first day of the AFC Live 2017 – its infrastructure summit holding in Abuja on May 15-16.

The Lagos-based lender said the projects span across nine countries: Benin, Burundi, Democratic Republic of Congo, Kenya, Niger, Rwanda, Tanzania, Zambia and Zimbabwe. The projects were presented by the New Partnership for Africa’s Development (NEPAD); GIZ, the German Development Agency; Black Lion Holding, a strategic advisory firm; and Petrolin Group, an international petroleum group.

“In 2014 we held our inaugural African infrastructure summit, bringing together our expertise, knowledge and experience in infrastructure financing,” said Andrew Alli, President and CEO of the AFC. “In 2017, as we celebrate 10 years of activity, we will focus on deal-making, with a view to leveraging public-private partnerships for continental infrastructure transformation.”

A recent UN report says out of the $2 trillion raised globally for infrastructure projects, only $59 billion was received in Africa, representing just 3 percent. By bringing financiers and investors alongside project developers and fund managers, AFC’s summit aims to ensure that more capital, both African and international, can be deployed towards addressing Africa’s pressing infrastructure needs.

One of the projects presented at the AFC Live 2017 is Petrolin’s Backbone Project – which includes a rail line to be built on existing networks, linking Cotonou (Benin) to Parakou (Benin), to Dosso (Niger) and to Niamey (Niger) for a total 1,032 kilometres. The project also includes a new dry port, a new deep water port, a new international airport and related infrastructure (schools, universities, health centres, and tourism areas) in Benin.

“The core of our business strategy is to use our international strength to bring on board first class international companies and, more importantly, to involve local indigenous partners and investors to associate them to the development of the sub-region,” said Samuel Dossou-Aworet, Founding Chairman of Petrolin Group.

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