Latest news with #BanjiFehintola
Zawya
17-03-2025
- Business
- Zawya
Africa Finance Corporation (AFC) Sweeps IJGlobal and Global Capital Awards with Hat Trick of Major Wins
Africa Finance Corporation (AFC) ( the continent's leading infrastructure solutions provider, has been honoured with three prestigious accolades, further underscoring its impact in shaping Africa's financial landscape. At the IJGlobal Awards 2024 held recently in London, AFC was named Guarantor of the Year, Africa, and also received the Market Innovation Award, Africa. The following evening, AFC was recognised with the African Deal of the Year at the Global Capital Syndicated Loan Awards in London. The trio of awards showcase AFC's pioneering role in infrastructure financing, risk mitigation, and innovative financial solutions that drive sustainable economic growth across Africa. AFC's triple win highlights its lead role in arranging a record €2 billion syndicated facility for the Bank of Industry (BOI), the largest capital raise in the history of African development finance institutions. AFC served as Global Coordinator, Lead Co-Arranger, Underwriter, Bookrunner, and Guarantor in the successful syndication. Leveraging its structuring and credit enhancement, AFC assembled a consortium of international financial institutions for the facility, including Standard Chartered Bank, African Export-Import Bank, First Abu Dhabi Bank PJSC, FirstRand Bank Limited (through its Rand Merchant Bank division – London Branch), Mashreqbank PSC, SMBC Bank International PLC, Absa Bank (Mauritius) Limited, Absa Bank Limited, and the Export-Import Bank of India (London Branch). AFC has consistently led the way in unlocking international capital markets for African institutions. In 2023, AFC supported the Egyptian Government as Re-Guarantor on a JPY75 billion Samurai Bond Issue, exemplifying AFC's role as a key enabler of global financing for African sovereigns. This transaction won AFC the Innovation of the Year Award (MENA) at the IJGlobal Awards 2023. Earning Guarantor of the Year, the Market Innovation Award, and African Deal of the Year reaffirms AFC's expertise in attracting global capital to African markets and its commitment to structuring innovative financing solutions that bridge the continent's infrastructure gap. AFC's investment strategies continue to drive economic resilience and industrialization across the continent. 'We are honored to receive these prestigious awards, which reflect AFC's ongoing mission to unlock Africa's infrastructure potential through financial innovation,' commented Samaila Zubairu, President&CEO of Africa Finance Corporation. 'These recognitions further validate our credentials as a trusted partner in mobilizing capital to drive sustainable development across the continent. We extend our gratitude to our partners and stakeholders whose collaboration has been instrumental in achieving these milestones.' Banji Fehintola, Executive Director and Head of Financial Services at AFC, said: 'These recognitions from IJGlobal and Global Capital are a testament to AFC's leadership in structuring innovative financial solutions that de-risk investments and attract international capital to Africa. The success of the €2 billion syndicated facility for BOI demonstrates our ability to mobilize global funding at scale, supporting economic development and industrialization across the continent.' The IJGlobal Awards celebrate outstanding achievements in global greenfield and refinancing deals across various sectors that shape the infrastructure and energy landscape, while the Global Capital Syndicated Loan Awards honor the most significant and innovative syndicated loan transactions worldwide. Distributed by APO Group on behalf of Africa Finance Corporation (AFC). Media Enquiries: Yewande Thorpe Communications Africa Finance Corporation Mobile: +234 1 279 9654 Email: About AFC: AFC was established in 2007 to be the catalyst for pragmatic infrastructure and industrial investments across Africa. AFC's approach combines specialist industry expertise with a focus on financial and technical advisory, project structuring, project development, and risk capital to address Africa's infrastructure development needs and drive sustainable economic growth. Seventeen years on, AFC has developed a track record as the partner of choice in Africa for investing and delivering on instrumental, high-quality infrastructure assets that provide essential services in the core infrastructure sectors of power, natural resources, heavy industry, transport, and telecommunications. AFC has 45 member countries and has invested US$15 billion across Africa since inception.
Zawya
07-02-2025
- Business
- Zawya
AFC raises US$400mln in Shariah-compliant commodity Murabaha facility to fund African infrastructure
Dubai: Africa Finance Corporation (AFC), the continent's leading infrastructure solutions provider, has successfully closed a US$400 million Shariah-compliant Commodity Murabaha facility, marking its strategic return to the Islamic finance market for the first time in eight years. This milestone reflects AFC's commitment to diversifying funding sources while expanding access to ethical and sustainable financing to meet Africa's infrastructure needs. Initially launched at US$300 million, the facility was upsized to US$400 million as strong investor demand resulted in a 47% oversubscription. The transaction attracted participation from eleven leading Islamic financial institutions, including new AFC partnerships with Abu Dhabi Islamic Bank PJSC, Al Rajhi Bank, and Emirates Islamic Bank. " This transaction reaffirms AFC's role as a bridge between global capital and Africa's most urgent infrastructure needs," said Samaila Zubairu, President and CEO of AFC. " The overwhelming demand demonstrates strong confidence in our investment strategy and Africa's increasing importance in the Islamic finance landscape. By expanding our international funding sources, we continue to create innovative financial solutions to drive impactful and sustainable development across the continent." Emirates NBD Capital Limited, First Abu Dhabi Bank PJSC, and SMBC Bank International Plc acted as Joint Lead Arrangers and Bookrunners for the transaction, reinforcing AFC's strong relationships with leading global financial institutions. The transaction builds on AFC's proven track record in Islamic finance, including its groundbreaking US$230 million Sukuk—the first-ever by an African supranational entity issued in 2017. AFC has consistently broadened its funding portfolio with innovative transactions that open new capital markets to attract global investors to African infrastructure. In January, AFC raised US$500 million from its first perpetual hybrid bond. In the same month, AFC received the highest possible credit ratings from S&P Global (China) Ratings and China Chengxin International Credit Rating Co. Ltd (CCXI) ahead of a potential panda bond issue. This financing facility was structured in accordance with standards set by the Accounting and Auditing Organization for Islamic Financial Institutions, or AAOIFI, ensuring full compliance with global Islamic finance principles. Islamic finance, including Murabaha structures, is widely regarded as ethical and sustainable due to its emphasis on asset-backed financing, risk-sharing, and the prohibition of speculative practices. These principles align with AFC's mission to foster responsible investment that promotes long-term infrastructure development and economic stability in Africa. ' Islamic finance plays a growing role in our funding strategy, helping us tap into a diverse pool of investors who share AFC's commitment to sustainable and responsible investing,' said Banji Fehintola, Executive Board Member and Head of Financial Services at AFC. ' The success of this Murabaha facility highlights the strong appetite for African infrastructure investments and underscores AFC's ability to structure transactions that meet global investor expectations.' Proceeds from the 3-year Murabaha financing will support AFC's mission to accelerate industrialization, infrastructure development, and economic growth across the continent. A number of AFC's transformative infrastructure projects are based in the Middle East and North Africa region, including Xlinks in Morocco, a pioneering project designed to supply sustainable electricity from the Sahara to the UK. Through the acquisition of Lekela Power, AFC, with its partner, Cairo-based Infinity Power, is Africa's largest investor in clean energy, targeting 3GW of renewable capacity by 2026. About AFC AFC was established in 2007 to be the catalyst for pragmatic infrastructure and industrial investments across Africa. AFC's approach combines specialist industry expertise with a focus on financial and technical advisory, project structuring, project development, and risk capital to address Africa's infrastructure development needs and drive sustainable economic growth. Seventeen years on, AFC has developed a track record as the partner of choice in Africa for investing and delivering on instrumental, high-quality infrastructure assets that provide essential services in the core infrastructure sectors of power, natural resources, heavy industry, transport, and telecommunications. AFC has 45 member countries and has invested over US$15 billion in 36 African countries since its inception. Media Enquiries: Yewande Thorpe Communications Africa Finance Corporation Mobile : +234 1 279 9654 Email :
Zawya
07-02-2025
- Business
- Zawya
Africa Finance Corporation (AFC) Raises US$400 million in Shariah-compliant Commodity Murabaha facility to fund African Infrastructure
Africa Finance Corporation (AFC) ( the continent's leading infrastructure solutions provider, has successfully closed a US$400 million Shariah-compliant Commodity Murabaha facility, marking its strategic return to the Islamic finance market for the first time in eight years. This milestone reflects AFC's commitment to diversifying funding sources while expanding access to ethical and sustainable financing to meet Africa's infrastructure needs. Initially launched at US$300 million, the facility was upsized to US$400 million as strong investor demand resulted in a 47% oversubscription. The transaction attracted participation from eleven leading Islamic financial institutions, including new AFC partnerships with Abu Dhabi Islamic Bank PJSC, Al Rajhi Bank, and Emirates Islamic Bank. "This transaction reaffirms AFC's role as a bridge between global capital and Africa's most urgent infrastructure needs," said Samaila Zubairu, President and CEO of AFC. "The overwhelming demand demonstrates strong confidence in our investment strategy and Africa's increasing importance in the Islamic finance landscape. By expanding our international funding sources, we continue to create innovative financial solutions to drive impactful and sustainable development across the continent." Emirates NBD Capital Limited, First Abu Dhabi Bank PJSC, and SMBC Bank International Plc acted as Joint Lead Arrangers and Bookrunners for the transaction, reinforcing AFC's strong relationships with leading global financial institutions. The transaction builds on AFC's proven track record in Islamic finance, including its groundbreaking US$230 million Sukuk—the first-ever by an African supranational entity—issued in 2017. AFC has consistently broadened its funding portfolio with innovative transactions that open new capital markets to attract global investors to African infrastructure. In January, AFC raised US$500 million from its first perpetual hybrid bond. In the same month, AFC received the highest possible credit ratings from S&P Global (China) Ratings and China Chengxin International Credit Rating Co. Ltd (CCXI) ahead of a potential panda bond issue. This financing facility was structured in accordance with standards set by the Accounting and Auditing Organization for Islamic Financial Institutions, or AAOIFI, ensuring full compliance with global Islamic finance principles. Islamic finance, including Murabaha structures, is widely regarded as ethical and sustainable due to its emphasis on asset-backed financing, risk-sharing, and the prohibition of speculative practices. These principles align with AFC's mission to foster responsible investment that promotes long-term infrastructure development and economic stability in Africa. 'Islamic finance plays a growing role in our funding strategy, helping us tap into a diverse pool of investors who share AFC's commitment to sustainable and responsible investing,' said Banji Fehintola, Executive Board Member and Head of Financial Services at AFC. 'The success of this Murabaha facility highlights the strong appetite for African infrastructure investments and underscores AFC's ability to structure transactions that meet global investor expectations.' Proceeds from the 3-year Murabaha financing will support AFC's mission to accelerate industrialization, infrastructure development, and economic growth across the continent. A number of AFC's transformative infrastructure projects are based in the Middle East and North Africa region, including Xlinks in Morocco, a pioneering project designed to supply sustainable electricity from the Sahara to the UK. Through the acquisition of Lekela Power, AFC, with its partner, Cairo-based Infinity Power, is Africa's largest investor in clean energy, targeting 3GW of renewable capacity by 2026. Media Enquiries: Yewande Thorpe Communications Africa Finance Corporation Mobile: +234 1 279 9654 Email: About AFC: AFC was established in 2007 to be the catalyst for pragmatic infrastructure and industrial investments across Africa. AFC's approach combines specialist industry expertise with a focus on financial and technical advisory, project structuring, project development, and risk capital to address Africa's infrastructure development needs and drive sustainable economic growth. Seventeen years on, AFC has developed a track record as the partner of choice in Africa for investing and delivering on instrumental, high-quality infrastructure assets that provide essential services in the core infrastructure sectors of power, natural resources, heavy industry, transport, and telecommunications. AFC has 45 member countries and has invested over US$15 billion in 36 African countries since its inception.
