Africa Finance Corporation Raises Record $2 Billion Syndicated Loan

Africa Finance Corporation  (AFC) has secured its largest-ever syndicated loan of $2 billion, drawing strong demand from international banks amid geopolitical uncertainty and market volatility.

The facility was launched at $1.6 billion and upsized due to robust investor interest. Banks from Asia Pacific and Europe each accounted for 35% of the deal, the Middle East 25%, and Africa 5%, according to the lender. The new borrowing is expected to bolster AFC’s ability to fund integrated infrastructure and industrial projects across the continent as the development bank accelerates investments in energy, transport, logistics, heavy industry and related sectors.

AFC, which holds investment-grade ratings including an ‘A’ from S&P Global Ratings with a positive outlook, as well as A3 from Moody’s, continues to attract capital as one of Africa’s leading infrastructure financiers. Its assets have surpassed $19 billion, with membership now spanning 48 African countries.

The loan comes as AFC expands its footprint, including plans to open its first regional office outside Lagos in Nairobi. It also aligns with efforts to channel more African institutional capital, particularly pension funds, into priority infrastructure projects.

The debt facility was led by Barclays, Commerzbank, First Abu Dhabi Bank PJSC, and FirstRand Bank, acting through its Rand Merchant Bank division (London Branch), as Global Coordinators and Initial Mandated Lead Arrangers and Bookrunners. Additional Initial Mandated Lead Arrangers and Bookrunners included Abu Dhabi Commercial Bank PJSC, Bank of China (Johannesburg and London Branches), Emirates NBD, Industrial and Commercial Bank of China Limited (London Branch), Mashreqbank PSC, Mizuho Bank, SMBC Bank International, Société Générale Côte d'Ivoire, Société Générale S.A, Société Générale Sénégal, Standard Chartered Bank (Hong Kong) Limited, and the National Bank of Ras Al Khaimah (P.S.C). 

Others lenders include Export-Import Bank of India (London Branch), Arab Bank for Economic Development in Africa, Bank of Communications (Johannesburg and London Branches), China Construction Bank (Johannesburg Branch), Doha Bank Q.P.S.C, Hua Nan Commercial Bank (Hong Kong Branch), Export-Import Bank of the Republic of China, Qatar National Bank Q.P.S.C, The Gunma Bank, Chang Hwa Commercial Bank (London Branch), Banka Kombetare Tregtare sh.a and Industrial Bank of Korea (Hong Kong Branch).

“This transaction reflects growing recognition that Africa’s next phase of growth will be driven not by isolated projects, but by integrated infrastructure systems,” Samaila Zubairu, AFC’s President and CEO, said in a statement. “AFC has positioned itself at the centre of Africa’s transformation by developing the platforms and ecosystems that convert infrastructure into industrialisation, jobs and economic competitiveness.”