Official Name: Africa Finance Corporation
Abbreviation: AFC
Established: 2007
Headquarters: Lagos, Nigeria
Institution Type: Multilateral Financial Institution
Legal Status: International organisation established by treaty
Geographic Focus: Africa
Member Countries: 48
Investment Footprint: 36 African countries
Capital / Investment Focus: Infrastructure, natural resources and industrial assets
Official Website: https://www.africafc.org/
Overview
Africa Finance Corporation (AFC) is a multilateral financial institution created by African sovereign states to provide solutions to Africa’s infrastructure deficit and challenging operating environment.
AFC develops and finances infrastructure, natural resources and industrial assets with the objective of supporting economic growth and industrial development across African countries.
The institution was established in 2007 and is headquartered in Lagos, Nigeria.
Business Model
AFC operates across three core service areas:
- Project Development
- Financial Advisory
- Principal Investing
The institution also provides project management expertise and participates across the project lifecycle, from project development and structuring through financing and financial close.
AFC can deploy capital across different stages of a project and across the capital structure.
Principal Investment
AFC’s principal investing activities focus on four major sectors:
- Power
- Transport & Logistics
- Natural Resources
- Heavy Industry, Telecommunications & Technology
Its investment solutions can include:
- Project Development Equity and Loans
- Equity
- Quasi-Equity
- Mezzanine and Subordinated Debt
- Senior Debt
- Stream and Royalty Financing
- Guarantees
- Trade Finance
- Corporate Finance
- Sovereign Lending
Investment Footprint
AFC states that it has invested more than US$19 billion across 36 African countries since its establishment.
The institution currently has 48 member countries.
Its investment and project-development activities cover infrastructure and industrial assets across multiple African markets.
Core Sectors
Power
AFC invests in power-generation and related infrastructure projects aimed at expanding Africa’s electricity capacity.
Transport & Logistics
AFC finances and develops transport and logistics infrastructure, including ports, railways and other trade-enabling infrastructure.
Natural Resources
AFC invests in natural-resource projects, including oil and gas and mining.
Heavy Industry, Telecommunications & Technology
AFC invests in industrial infrastructure, telecommunications and technology-related assets that support economic development and industrialisation.
Project Lifecycle Role
AFC’s model allows it to participate at different stages of a project lifecycle.
This can include:
Project Development → Structuring → Advisory → Capital Deployment → Financial Close → Construction → Operations
The institution states that it seeks to participate across the entire project cycle and capital structure, helping projects become well structured and reach financial close.
Recent Investment & Financing Activity
AFC’s recent activity demonstrates its role in mobilising capital for major African infrastructure and industrial transactions.
In July 2026, AFC announced financial close on the US$753 million Lobito Corridor Railway Project in Angola.
In 2025, AFC reported more than US$19 billion in total assets and announced a US$2 billion syndicated loan, which it described as its largest-ever syndicated loan facility.
AFC also reported raising US$330.6 million in new capital in 2025.
Nigeria Relevance
Nigeria is AFC’s host country and the institution is headquartered in Lagos.
AFC has participated in infrastructure and natural-resource investments in Nigeria, including projects in the power and mining sectors.
Its Nigerian activities make the institution particularly relevant to monitoring infrastructure financing, project development, capital mobilisation and investment opportunities in the country.
Commercial Intelligence Relevance
AFC is a high-value entity for The Project Herald’s Capital Intelligence database.
Because AFC combines project development, financial advisory and principal investing, its activities can provide signals at different stages of a project’s development.
AFC activity can therefore indicate:
- Projects seeking financing
- Projects approaching financial close
- New infrastructure investments
- Equity investments
- Debt financing
- Project-development opportunities
- PPP and concession opportunities
- Strategic partnerships
- Co-investment opportunities
- Infrastructure platforms
- Industrial investments
- Refinancing transactions
- New project sponsors
- New contractors and developers
- Capital mobilisation
Project Herald Classification
Intelligence Type: Capital Intelligence
Entity Type: Institutional Investor / Multilateral Financial Institution
Country: Nigeria
Region: Africa
Sector: Infrastructure Finance / Investment
Subsectors: Power, Transport & Logistics, Natural Resources, Heavy Industry, Telecommunications & Technology
Strategic Importance: Critical
Commercial Relevance: Very High
Project Relevance: Very High
Financing Relevance: Very High
Procurement Relevance: High
Intelligence Confidence: High
Key Intelligence Areas to Monitor
For The Project Herald, AFC should be continuously monitored for:
- New investment commitments
- Project-development mandates
- Financing announcements
- Equity investments
- Debt facilities
- Project-finance transactions
- Financial closes
- PPP transactions
- Infrastructure concessions
- Strategic partnerships
- Co-investors
- Project sponsors
- Major exits
- Refinancing transactions
- New sector initiatives
- Nigeria-specific investments
- African infrastructure platforms
- Industrial investment opportunities
Why AFC Matters to Project Herald
AFC should be treated as a core Capital Intelligence entity, rather than simply as a financial institution profile.
Its involvement in a project can provide an important signal that a transaction is progressing from concept or development toward financing and implementation.
For Project Herald subscribers, tracking AFC can therefore help identify projects and capital movements before they become widely visible in the market.
This makes AFC particularly relevant to Project Herald’s objective of identifying projects, capital and commercial opportunities before they become obvious.
Primary Sources
- Africa Finance Corporation: https://www.africafc.org/
- AFC — About the Corporation: https://www.africafc.org/about-us/our-company/afc
- AFC — Principal Investing: https://www.africafc.org/our-approach/the-solutions-we-deliver/principal-investing
- AFC — FY2025 Results: https://www.africafc.org/news-and-insights/news/africa-finance-corporation-fy2025-results-showcase-landmark-project-closings-and-investment-expansion
Capital intelligence – AFC Advises on US$753 Million Lobito Corridor Railway Financial Close;https://www.theprojectherald.com/intelligence/afc-advises-on-us753-million-lobito-corridor-railway-financial-close/
Capital Intelligence connected – AFC Provides US$600m Facility for Dangote’s US$7bn Fertiliser Expansion: https://www.theprojectherald.com/intelligence/afc-600m-dangote-fertiliser-expansion/