Two billion dollars. That’s how much AFC Capital Partners wants to raise over the next three years to fund infrastructure projects that will make Africa more resilient to global warming. The asset manager unveiled its plan via a statement it released on Sept. 14.
AFC Capital said it would raise the first part of the funds, $500 million, over the coming year. According to the firm’s CEO, Ayaan Zeinab Adam, who spoke to Bloomberg in an interview, up to a third of that amount will come from the Green Climate Fund while AFC and two private climate funds provide $150 million. Private investors will mobilize the rest.
Though consequential, the $2 billion that AFC plans to invest in projects aimed at reducing Africa’s carbon emission and tackling climate change is a drop in the ocean compared with the continent’s infrastructure needs: $2.3 trillion. “Significant financing is urgently required for physical infrastructure that will survive the forces of climate change,” AFC Capital’s CEO said.
Africa, sub-Saharan Africa (SSA) especially, is the world’s region that is most threatened by climate change. In a recent report, the World Bank forecast that over 86 million Africans could be displaced due to climate change. To many, such a doomy projection could seem unfair given that Africa contributes very little to carbon emissions. Hopefully, efforts such as AFC Capital’s will help turn the tides.
AFC Capital is a unit of Africa Finance Corp., which is based in Lagos. Since it was founded in 2007, Africa Finance Corp has invested $8.7 billion in 35 African countries.
Schadrac Akinocho
• Inflation within the West African Economic and Monetary Union (UEMOA) fell to a two-year low of 0....
Flutterwave gained a BCEAO license to operate in Senegal, expanding to 35 African countries. ...
In Africa, the private sector is widely seen as the main engine of industrialization and plays a cen...
President Paul Biya, 92, to seek eighth term in October 2025 election In power since 19...
• Interbank volumes rose 18.7% in May, while rates declined across the market• The BCEAO cut its mai...
Highlights: • Kobold Metals signed an agreement in principle with the DRC government on July 17, 2025.• The deal includes the Manono lithium project,...
Highlights: • Global cocoa processing down across all major regions in Q2 2025• ECA: Europe’s grindings at lowest since 2020, Asia at lowest since...
Highlights: • Egypt targets 42% renewable energy share by 2030.• POWERCHINA to build 130-km high-voltage line signed on June 25.• National grid expansion...
Highlights: • EXIM Bank issues letter of intent for $150M to support Botswana's NexMetals• US eyes battery-grade nickel sulphates and cobalt from...
Ashenda is a vibrant traditional festival celebrated primarily in northern Ethiopia, particularly among the Tigray and Amhara communities, as well as in...
The Emerald Sea is a vast turquoise lagoon located in the northern part of Madagascar, just a few kilometers from the town of Antsiranana (formerly Diego...