home advantage

Why the Africa Finance Corporation wants to bring local currencies up to date

By Mathieu Galtier

Premium badge Reserved for subscribers

Posted on May 31, 2024 13:22

Samaila Zubairu, CEO of the Africa Finance Corporation (AFC), on 14 December 2022 in Washington, DC. (TASOS KATOPODIS/Samaila Zubairu)
Samaila Zubairu, CEO of the Africa Finance Corporation (AFC), on 14 December 2022 in Washington, DC. (TASOS KATOPODIS/Samaila Zubairu)

The financial institution, owned by several African governments, will now issue bonds in African currencies to finance the continent’s infrastructure – a fresh financial start awaited by many.

“Discussions with South Africa are on the table. Two other countries have approached us,” says Samaila Zubairu, managing director of the Africa Finance Corporation (AFC), who underscores that the main purpose of this new financial vehicle is to “reduce the risks associated with investing in infrastructure”.

Understand Africa's tomorrow... today

Get full access to The Africa Report

Subscribe Now
notification icon
Turn on notifications to stay tuned to our most relevant articles.