Menu

Africa Finance Corporation (AFC), a leading infrastructure solutions provider in Africa, has received an equity investment from Turk Eximbank on behalf of the Republic of Türkiye. According to AFC, this marks a historic milestone in onboarding the corporation’s first non-African sovereign shareholder.

The equity subscription from Türkiye’s official export credit agency advances AFC’s mission to be the bridge between Africa and global stakeholders wishing to play a key role in the continent’s development and prosperity, AFC said in a statement.  

Turk Eximbank’s investment in AFC is its first in an African entity and aligns. AFC said this aligns with Türkiye’s strategic vision of fostering resilient and sustainable growth in Africa, as outlined in the government’s Africa Partnership Policy, underlining the relevance of AFC to deliver on these aspirations. It added that its unique and proven business model of developing sustainable and impactful projects on the continent with the support of both African public and private sector capital makes it a reliable long-term partner for successfully expanding Türkiye’s development agenda on the continent.

Türkiye is one of the leading development and commercial partners for Africa, with trade increasing to $40.7 billion in 2022, from $5.4 billion in 2003.