The Nigeria’s Central Bank, CBN, and three other banks in the country received $41.736 million dividends (₦12.938 billion) in 2017 from their investments in regional multinational financial institution, the Africa Finance Corporation, AFC. The other banks, according to data obtained from the AFC’s 2017 Financial Report, are United Bank for Africa Plc, Access Bank Plc […]
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With some mining companies increasingly reluctant to own outright the infrastructure that keeps their projects going, an African development institution is linking up with investment funds to help fill the gap. The Nigerian-based Africa Finance Corporation has already expanded its debt or equity funding for resources projects from oil into mines, including a bauxite scheme […]
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President/Chief Executive of the Africa Finance Corporation (AFC), Mr. Andrew Alli, has revealed that Nigeria would need to spend $3 trillion on economic infrastructure over the next 30 years if the country must meet its own ambitious development goals. Speaking at the annual conference of the Finance Correspondents Association of Nigeria (FICAN) on Saturday, September […]
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The Africa Finance Corporation (AFC) has issued a $500 million seven-year Eurobond. The senior, unsecured Eurobond which carries a coupon of 3.875 per cent was priced to yield 4.000 per cent and matures in April 2024. The Eurobond received strong global interest, with an order book of $2.4 billion, representing about five times over-subscription from […]
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