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
Over the past two decades, mobile money has grown into a cornerstone of African finance. Driven by i...
On August 31, 2025, the ruling coalition in Benin Republic—comprising the Union Progressiste pour le...
• Tanzania to host investor talks on expanding CNG infrastructure• Government aims to boost CNG use,...
Nigeria eyes $671m data center market by 2030, seeks Chinese investors. Rising mobile da...
• Lucara secures $10M loan for Karowe underground project• UGP faces delays, costs rise to ...
Zenith Bank picks Côte d’Ivoire for $90M debut into Francophone Africa, confirming ambition to unlock 14-nation WAEMU/CEMAC passport. Late...
• Report: 54% of North African farmers face salinity-related crop losses.• Egypt worst hit, with 35% of its farmland affected by salinity.• Farmers adapt...
• African Food Systems Forum 2025 ends in Dakar with 6,000+ attendees.• UK, AGRA, AU launch $6.7M food trade corridors partnership.• GCC, Gates...
TotalEnergies sees caping Venus filed in Namibia at 150,000 bpd, but increasing the exploitation for 20-30 years using gas reinjection. Namibia...
The Tomb of Askia is one of the most important historical and cultural monuments in Mali, inscribed on the UNESCO World Heritage List since 2004. Located...
The Mount Nimba Nature Reserve, a true cross-border treasure, stretches across Guinea and Côte d’Ivoire, at the edge of Liberia. It is dominated by an...