Egypt becomes first North African shareholder in AFC

Egypt has joined Africa Finance Corporation (AFC), the continent’s leading infrastructure solutions provider, as the first North African sovereign shareholder, the Corporation stated on Tuesday.

This step further diversifying AFC’s expanding equity investor base, as it enhances the Corporation’s pan-African spread of shareholders and diversified Board and management, the statement added.

Egypt’s investment leads the way for other countries and investors from the region to join AFC’s shareholders and use its platform to boost regional trade and co-investment opportunities.

“We look forward to boosting our partnership with the Corporation as we work together to develop the key infrastructure projects in the pipeline,” said Egypt’s Minister of Finance Mohamed Maait.

For his side, AFC’s CEO Samaila Zubairu praised this step, welcoming Egypt for helping them to maximise the impact of investments in systemic solutions within Egypt and across the continent.