Africa Finance Corporation Secures Major Boost for Renewable Energy Projects
The Africa Finance Corporation (AFC) has secured a USD 100 million, 10-year term loan from FinDev Canada, marking its first-ever transaction in the Canadian market. The deal is a major milestone for AFC’s renewable energy initiatives and its commitment to sustainable infrastructure growth across Sub-Saharan Africa.
Strengthening Public-Private Partnerships in Africa
This partnership underscores AFC’s growing influence in public-private partnerships in Africa, bringing together global investors committed to advancing low-carbon and climate-resilient development. FinDev Canada’s participation highlights confidence in AFC’s strong credit profile and its ability to deliver de-risked, transformational projects across the continent.
FinDev Canada joins an impressive list of AFC’s international partners, including Italy’s Cassa Depositi e Prestiti, Germany’s KfW, India Exim Bank, and the US International Development Finance Corporation — further boosting investment in renewable energy and green infrastructure in Africa.
Investment in Renewable Energy for a Greener Future
According to Paulo Martelli, Vice President and Chief Investment Officer of FinDev Canada, “This transaction supports a leading solutions provider financing critical infrastructure in Sub-Saharan Africa and expands our impact investment presence in the region.”
Banji Fehintola, Executive Board Member at AFC, added that the collaboration aligns perfectly with both organizations’ vision to accelerate renewable energy initiatives and climate-resilient infrastructure across Africa.
Driving Sustainable Growth Through Partnerships
The funds will strengthen AFC’s long-term financing strategy, enabling innovative solutions for clean energy, sustainable transport, and resilient economic development. This initiative further cements AFC’s position as a key gateway for international investors seeking impactful opportunities through public-private partnerships in Africa.
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This story was first reported by APO Group on behalf of Africa Finance Corporation. Read the full article here.
