Inside AFC’s 200 deals across 36 countries transforming Africa’s economy

Nairobi || The Africa Finance Corporation (AFC) has executed more than 200 infrastructure deals across 36 Countries, positioning itself as one of the continent’s most active development finance institutions, with investments spanning energy, transport, mining, and industrial infrastructure.

Speaking at a press briefing on Tuesday before the opening of the Africa We Build Summit in Nairobi, Fola Fagbule said AFC’s interventions had delivered measurable economic impact across the continent, supporting both growth and job creation.

Fagbule said AFC has contributed an estimated $50 billion to Africa’s gross domestic product and helped create more than 7 million jobs through its infrastructure investments since inception.

“AFC was created to address a fundamental constraint in Africa’s development, which is infrastructure financing and execution capacity,” he said, noting that the institution has evolved into a platform that blends capital mobilisation with project delivery.

Established in 2007, AFC was conceived through an initiative led by Olusegun Obasanjo, former Nigerian President who championed the creation of a specialised institution focused on closing Africa’s infrastructure gap.

Fagbule noted that Africa continues to face a major infrastructure deficit, with annual funding needs estimated between $65 billion and $100 billion across power, transport, logistics and industrial sectors.

He said the gap persists due to fiscal constraints on governments, limitations in traditional development finance models, and a persistent mismatch between perceived and actual investment risk in Africa.

“A major challenge is not only access to capital, but also execution, the ability to take projects from idea to bankability and then to delivery,” he said.

AFC addresses this through a hybrid public-private model, with about 64 percent of its capital coming from sovereign and sovereign-linked institutions and roughly 36 percent from private investors seeking commercial returns.

With about $20 billion in total assets, including third-party capital, AFC has financed more than 170 infrastructure projects, making it a key player in structuring large-scale transactions across the continent.

Its investments span critical sectors, including energy, transport, telecommunications, heavy industry and mining. Notable projects include the Dangote Refinery, alongside rail, power and industrial developments across multiple African economies.

Fagbule said AFC also plays a unique role in early-stage project development, helping to structure and de-risk investments before mobilising global and domestic capital at scale.

Beyond individual assets, the institution focuses on ecosystem development, linking infrastructure investments to broader industrial value chains such as mining-to-manufacturing and transport-to-industrial corridors.

AFC is also expanding its regional footprint, with plans to establish a Nairobi office aimed at strengthening engagement in East Africa and accelerating infrastructure project development in the region.

The institution further supports policy development and research, including its annual State of Africa Infrastructure report, which provides analysis and recommendations to governments on improving infrastructure financing and delivery.

Fagbule said AFC’s strong governance framework and high credit ratings, among the highest for financial institutions in Africa, enable it to access global capital markets at competitive rates and channel funding into African infrastructure.

As Africa continues to grapple with infrastructure gaps, fiscal pressures and execution bottlenecks, AFC’s portfolio of more than 200 deals across 36 countries underscores its growing influence in shaping the continent’s economic transformation through.