As of the first quarter of 2021, the Africa Finance Corporation (AFC) has three new members namely Morocco, Burkina Faso and the Democratic Republic of Congo. In a statement released Wednesday, June 9, the Pan-African institution said this new membership brings the total number to 31 members.
“Through this expanded membership and our technical expertise, we are empowered to provide critical infrastructure with a greater focus on energy, renewable energy and digital infrastructure to rebuild a more resilient and sustainable economy post Covid-19 . Said Samaila Zubairu, President and CEO of AFC.
Speaking on Morocco’s membership, Economy, Finance and Administrative Reform Minister Mohamed Benchaaboun said his country “is happy to join AFC at such a critical time. We look forward to completing the legal ratification procedures as soon as possible, so that we can reap the many benefits of AFC membership, including its strong network, as we continue our program of seeking more strategic partnerships in Sub-Saharan Africa “.
For his part, the Burkinabé Minister of Economy, Finance and Development, Lassané Kaboré, declared: “As part of our commitment to reduce poverty in Burkina Faso and transform the Burkinabè economy, we look forward to work with AFC, a pan-African institution, to develop infrastructure projects in catalyst sectors such as transport, logistics and mining for the sustainable development of the country ”.
Established in 2007, AFC has invested more than $ 8.7 billion in 35 African countries, using its unique access to global capital markets to spur development, integrate the continent’s economies and transform lives. Its main mission is to bridge the continent’s infrastructure gap.