AFC Surpasses $1B in Revenue

Africa Finance Corporation (AFC) has reported total revenue exceeding $1 billion for 2024 – marking a 22.8% increase to $1.1 billion.

This growth is attributed to improved asset yields, prudent cost-of-funds management and sustained momentum across the Corporation’s advisory mandates.

Throughout 2024, AFC played a pivotal role in mobilizing capital for transformative projects in the energy, transport and natural resources sectors. Among its flagship initiatives, the Corporation led the development of the Lobito Corridor – a cross-border railway connecting Angola, the Democratic Republic of Congo (DRC) and Zambia. In the DRC, AFC invested $150 million in the Kamoa-Kakula Copper Complex, Africa’s largest and one of the world’s most sustainable copper producers.

Additional major transactions included financing support for Nigeria’s Dangote Refinery and the 15 GW Xlinks Morocco-UK Power Project – a landmark transcontinental renewable energy initiative linking North Africa to Europe.

“These results send a clear message that strategic investment in African infrastructure creates lasting value for both beneficiaries and investors,” said Samaila Zubairu, President & CEO, AFC. “In 2024, we exceeded the billion-dollar revenue mark, delivered game-changing projects, and reinforced our financial resilience – demonstrating the scalability of our unique model that blends purpose with performance to accelerate Africa’s economic transformation.”