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
• Global coffee consumption projected to hit a record 169.4 million 60-kg bags in 2025/2026, up from...
In a West African financial landscape marked by tighter regulation of the fintech sector, digital fi...
• Burkina Faso-based financial group, Vista Group Holding, has acquired a majority stake in Société ...
Transport and food prices have been climbing steadily across Africa in recent years. In Côte d’Ivoir...
• Kenyan President William Ruto signs strategic partnership with UK Prime Minister Keir Starmer to b...
• Investors seem to keep focusing on yields, which are high for the moment• New Leadership might seek to address rating concerns • April 2026 allows...
• Algeria grants commercial 5G licenses to top three telecom operators: Mobilis, Djezzy, and Ooredoo • License award comes on stream as part of the...
• The International Monetary Fund (IMF) has authorized a $262.3 million disbursement for Ethiopia, taking total payments under Extended Credit...
• ECOWAS Bank funds 47.7-km stretch of strategic 700-km road project• Lagos-Calabar highway seen boosting regional trade and investment• Part of broader...
The Gerewol tradition is a fascinating ritual celebrated by the Bororo Fulani, a nomadic community primarily located in Chad and Niger. This annual...
In northern Ethiopia, in the Tigray region, lies Axum (also spelled Aksum), an ancient city that once stood at the heart of one of Africa’s most powerful...