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
(EBID) - EBID aims to allocate nearly 41% of its commitments to projects with environmental and...
Mahindra & Mahindra is considering a CKD assembly plant near Durban to strengthen its presence i...
AFC disbursed €43 million for Côte d’Ivoire solar project Financing supports 66 MW pla...
Operators review 2025 investments, outline 2026 expansion plans Consumer complaints persist...
MTN Ghana launches crackdown on mobile money agent fraud Audits trigger warnings, suspensions...
Global battery storage capacity rose 40% year-on-year to 108 GW in 2025. Installed capacity expanded more than elevenfold compared with 2021...
Botswana and Zimbabwe to sign seven agreements covering trade, SMEs, tourism and environmental cooperation Leaders meet in Harare under Bi-National...
Kenya and Italy signed a 2026–2029 action plan to expand cooperation across political, economic, and technological sectors. Bilateral trade rose...
Senegal and Sierra Leone signed a bilateral treaty in mining and energy on April 20 in Dakar. The agreement focuses on resource exploration, energy...
The Virunga Gorilla Marathon is a relatively recent initiative held in the Virunga region, a volcanic mountain range straddling the borders of the...
Lomé is hosting the 9th edition of the International Film Festival of Togo (FIFTO) featuring 33 films. The event promotes African storytelling in...