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PRESS RELEASE
The Africa Finance Corporation (AFC) secures First International Credit Rating Moody’s assigns A3/P-2
The second highest investment grade rated multilateral financial institution on the African continent
Logo: http://www.photos.apo-opa.com/plog-content/images/apo/logos/afc.jpg
AFC was established in 2007 as a private sector-led Pan African multilateral development finance institution, with an initial capital base of USD1.1 billion, to be a catalyst for private sector infrastructure investment across Africa. AFC was established to help fill a critical void in providing project structuring expertise and risk capital to address Africa’s infrastructure development needs. AFC not only provides access to finance, deal structuring and sector technical expertise, but also advisory services, project development capacity, and funding to bridge the infrastructure investment and access deficits, in the core infrastructure sectors of power, natural resources, heavy industry, transport and telecommunications, all critical pillars for economic growth across Africa.
Commenting on the International rating, Andrew Alli, President & Chief Executive Officer, AFC said “attaining an investment grade International credit rating, only six years after inception, is a tremendous achievement. It is a major milestone in the Corporation’s history. This rating, together with AFC’s strong capital position and the quality of its portfolio, will enable AFC to grow its balance sheet, broaden its asset base and expand its geographical footprint. It is a further endorsement of the Corporation’s rigorous investment process, innovative approach to infrastructure investment on the continent, world-class corporate governance and solid shareholder support. The Corporation is poised to assist in further driving economic growth and industrial development in Africa. We are extremely pleased with the rating.”
Distributed by APO (African Press Organization) on behalf of the Africa Finance Corporation (AFC).
About AFC - http://www.africafc.org
For more information, contact:
Dr Adesola Adeduntan, FCA
Director & Chief Financial Officer
Africa Finance Corporation, 3a Osborne Road
Lagos, Nigeria
Tel: + 234 1 279 9600
Email: adesola.adeduntan@africafc.org
Banji Fehintola, CFA
Senior Vice President & Treasurer
Africa Finance Corporation, 3a Osborne Road
Lagos, Nigeria
Tel: + 234 1 279 9600
Email: banji.fehintola@africafc.org
Ayotunde Anjorin
Vice President & Controller
Africa Finance Corporation, 3a Osborne Road
Lagos, Nigeria
Tel: + 234 1 279 9600
Email: Ayotunde.anjorin@africafc.org
Lucy Savage
Vice President, Communications
Africa Finance Corporation, 3a Osborne Road
Lagos, Nigeria
Tel: + 234 1 279 9600
Email: lucy.savage@africafc.org
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