Country
Nigeria
Sector
Development Finance
Intelligence Type
Capital
Status / Stage
Active
Estimated Value
USD Million 500
Confidence
Confirmed
Latest Development
Africa Finance Corporation issued a $500 million perpetual hybrid bond — recognised at the 2026 EMEA Finance Awards as a capital markets innovation. Perpetual hybrid bonds sit between equity and debt, providing AFC with Tier 1-equivalent capital while appealing to fixed-income investors. This is a structurally innovative instrument for an African DFI.
Capital Details
Capital TypePerpetual hybrid bond
Investor / FinancierGlobal institutional investors (fixed income)
Recipient / BorrowerAfrica Finance Corporation (AFC)
Purpose of CapitalAFC Tier 1-equivalent capital to support balance sheet expansion and infrastructure investment
Financing StructurePerpetual bond (no maturity date) with hybrid equity/debt accounting treatment. Won EMEA Finance Award 2026.
Market Significance
First perpetual hybrid bond by an African DFI — expands the toolkit available to African infrastructure financiers and signals investor appetite for innovative African capital market structures.
Commercial Opportunity Intelligence
Commercial ReadinessCommercially Active
Source & Verification Trail
Last VerifiedAugust 2026
Source(s)AFC official (June 22, 2026 — EMEA Finance Awards); African Capital Markets News (June 10, 2026)
Source DateJune 2026