AFC Mobilizes €75M for Angolan Road Networks

Multilateral development financial institution the Africa Finance Corporation (AFC) has mobilized €75 million to strengthen Angolan transport systems. The financing, part of a broader €85 million package, will support the construction of 186 bridges as well as upgrades to the country’s road networks. 

Forming part of the Angola’s National Development Plan 2023-2027, the funding seeks to strengthen the resilience and efficiency of the country’s transportation systems by reducing costs and enhancing connectivity. The financing – solely arranged by the AFC – will enhance trade corridors and cross-border connectivity, supporting critical sectors such as agriculture.

“We are proud to advance this catalytic investment that will connect underserved regions, enhance regional trade and improve the quality of life for millions of Angolans,” stated Samaila Zubairu, President & CEO, AFC.

The financing follows the announcement of a €381.5 million package in 2024 to support the engineering, procurement and construction of the 186 bridges. The AFC represents the mandated lead arranger for the commercial tranche, committing to raise €85 million. Other partners include financial institutions the Export-Import Bank of the US, the US Private Export Funding Corporation and Standard Chartered Bank.