Africa Finance Corp. is set to invest over $3 billion across Africa next year, focusing on enhancing the region’s mining and trade sectors.
AFC said it plans to prioritize advancing existing infrastructure projects, such as the multimillion-dollar railway linking Zambia’s mines to the Lobito port in Angola.
The institution is also seeking to invest in agricultural, electrification, eco-tourism, food security, and renewable energy projects, according to the Chief Executive Officer, Samaila Zubairu.
Zubairu stated that the AFC is also focused on investing in projects related to agriculture, electrification, eco-tourism, food security, and renewable energy.
“Our aspiration is to continue to support the build-out of the infrastructure that will enable Africa to industrialize, help us address our challenges of poverty, inequality and unemployment and we can only do that by creating jobs,” he said in an interview on Bloomberg Television.
Zubairu said that Africa presents a “significant investment proposition” for countries and regions like the US, India, the European Union, and the Persian Gulf, due to its rich reserves of minerals, metals, and renewable energy resources.
“We’re going to need 2 million trucks” for the trade area, Zubairu said. “Our plan is not to use diesel trucks — we’d like to use electric trucks. We have the whole battery-minerals value chain here. We’re looking at how to produce battery process here, and eventually we’ll do cells.”
AFC is a multilateral financial institution established by African sovereign states to offer practical solutions to Africa’s infrastructure challenges and difficult operating environment.
