Africa Finance Corporation (AFC) (www.AfricaFC.org), the continent’s leading infrastructure solutions provider, today announced that it has received a new equity investment from Rawbank, one of the Democratic Republic of Congo’s (DRC) leading banking and financial institutions. This equity injection is aligned with AFC’s strategy to mobilize African capital and diversify its capital base and underpins the Corporation’s mission to deliver pragmatic solutions to Africa’s significant infrastructure and industrialization requirements.
For almost two decades, AFC has been committed to driving Africa’s economic transformation and sustainable development, and these milestone equity investments not only strengthen the Corporation’s capital base but broaden its reach and impact across the continent. Rawbank’s equity investment follows the DRC Government’s capital injection into AFC in 2022, reflecting the Corporation’s growing footprint in Central Africa.
AFC has mobilised over US$200 million in investments in DRC across its key sectors of natural resources, power, transport, and heavy industries, holding an investment pipeline of over US$850 million in the near- to-medium term. The Corporation’s most recent transformational investments in-country include the joint development of a 200MW Solar farm alongside Sky Power Global; leading the development of the Lobito Corridor connecting the DRC and Zambia with global markets through Angola; and the joint development of a mass transit in Kinshasa to improve mobility across the DRC with Trans Connexion Congo (TCC).
Mustafa Rawji, CEO of Rawbank commented, “Rawbank's investment in AFC is a crucial step for our bank and for the Democratic Republic of Congo as a whole. It is an important step for us as our first equity investment in a multilateral financial institution, and we are confident that it will strengthen our bank's financial capabilities, enabling us to finance large-scale projects that can transform the DRC's economic landscape. We are proud to be associated with an institution that shares our vision of growth and sustainability.”
“With our shared passion to elevate Africa’s instrumental role as an engine of global growth, I am pleased to welcome Rawbank as our newest equity shareholder,” said Samaila Zubairu, President & CEO of AFC. “It is critical for African institutions to play a catalytic role as agents of transformation on the continent and these equity investments support AFC’s commitment to catalysing economic growth, value accretion, and industrial development in Africa.”
AFC has a diverse equity investor base that includes African Sovereigns, Pension Funds and Insurance firms amongst others, who all play a critical role in mobilizing the capital urgently needed for the continent’s development. Last year, AFC’s member states Côte d’Ivoire, Benin and Botswana all became shareholders alongside equity investments from African institutional investors including Caisse Nationale de Prévoyance Sociale (CNPS), Cameroon’s public pension fund and SBM Capital Market Securities Ltd., a leading investment-grade financial institution in Mauritius. Other shareholders include Egypt, Sierra Leone and Seychelles while the Republic of Turkey, through the Turk Exim Bank, became AFC’s first non-regional shareholder in 2023.
Distributed by APO Group on behalf of Africa Finance Corporation (AFC).
Media Enquiries:
Yewande Thorpe
Communications
Africa Finance Corporation
Mobile : +234 1 279 9654
Email : yewande.thorpe@africafc.org
About Rawbank:
For over 22 years, Rawbank has been at the forefront of economic development in the Democratic Republic of Congo, offering modern financial products and services to over 500,000 clients across a network of 100 branches in 19 provinces. With a presence in key regions including Grand Katanga, Grand Kasaï, the two Kivus, Equateur, and Kongo Central, and a representation office in Brussels, Rawbank operates over 300 ATMs. The bank's dedication to solidity, profitability, and sustainability has earned it numerous accolades, including the African Bankers Award for the best regional bank in Central Africa in 2022 and 2024, a Moody’s rating of CAA 1, and ISO/IEC certifications.
About AFC:
AFC was established in 2007 to be the catalyst for pragmatic infrastructure and industrial investments across Africa. AFC’s approach combines specialist industry expertise with a focus on financial and technical advisory, project structuring, project development, and risk capital to address Africa’s infrastructure development needs and drive sustainable economic growth.
Seventeen years on, AFC has developed a track record as the partner of choice in Africa for investing and delivering on instrumental, high-quality infrastructure assets that provide essential services in the core infrastructure sectors of power, natural resources, heavy industry, transport, and telecommunications. AFC has 43 member countries and has invested US$13 billion across Africa since inception.
Source: Apo-Opa
Did you find this information helpful? If you did, consider donating.