The Africa Finance Corporation (AFC), a leading provider of infrastructure solutions in Africa, has signed a Memorandum of Understanding (MoU) with the Export-Import Bank of China (CEXIM) to enhance collaboration in financing strategic infrastructure and trade projects across the continent.
Strengthening Africa-China Trade and Investment
This agreement builds upon an existing partnership established in 2018, reaffirming a shared commitment to accelerating economic development through sustainable investments. Since the inception of their relationship, AFC has secured US$700 million in financing from CEXIM, including a US$300 million facility in 2018 and a US$400 million loan in 2023.
The renewed partnership will focus on:
- Financing trade and investment projects in clean energy, transportation, telecommunications, and climate change mitigation.
- Facilitating knowledge exchange and collaboration on best practices in project structuring and risk management.
AFC’s Commitment to Industrialisation and Economic Growth
Samaila Zubairu, President & CEO of AFC, highlighted the significance of this collaboration:
“Our partnership with CEXIM strengthens Africa’s trade and investment ties with China, creating new pathways for infrastructure development and industrial growth. Strategic collaborations like this are key to accelerating Africa’s industrialisation. With CEXIM’s support, we are unlocking opportunities to build more resilient economies, mobilise capital at scale, and drive long-term prosperity across the continent.”
AFC’s Growing Presence in Chinese Financial Markets
AFC has been expanding its footprint in China’s financial sector, recently securing:
- AAA domestic credit rating from China Chengxin International Credit Rating Co. Ltd (CCXI).
- AAAspc issuer credit rating from S&P Ratings (China) Co., Ltd.
These ratings underscore AFC’s strong financial position, disciplined capital management, and ability to access diversified funding sources. Additionally, AFC finalised a US$1.16 billion syndicated loan in 2023, co-led by the Bank of China and Industrial and Commercial Bank of China (ICBC) London Branch.
Enhancing Economic Integration and Sustainable Development
This partnership underscores AFC and CEXIM’s mutual commitment to fostering economic integration and sustainable development in Africa. Through this collaboration, both institutions aim to:
- Mobilise funding for high-impact infrastructure projects.
- Enhance trade finance solutions to support economic growth.
- Strengthen private sector participation across Africa.
By working together, AFC and CEXIM are paving the way for long-term prosperity, reinforcing Africa’s position as a key player in global trade and infrastructure development.
Further Africa
