“Whaaaat? Somalia, DRC, Benin, and Botswana join Africa Finance Corporation!”

In a baffling turn of events, Africa Finance Corporation has announced that Benin, Botswana, the Democratic Republic of Congo, and Somalia have become new members. This move, in line with the Corporation’s multilateral status, grants privileges and diplomatic immunities, allowing for meaningful engagement in key African economies. The accession also permits AFC to mobilize global capital alongside domestic finance for sustainable infrastructure and industrial development. This development reflects AFC’s growing pan-African shareholder base, comprising of governments, development finance institutions, and institutional investors. With 40 sovereign members, or three-quarters of African countries, AFC is in a promising position to leverage its A3 investment-grade credit rating and close Africa’s infrastructure and industrial financing gap. The investments in AFC by African nations enhance the Corporation’s continental spread of shareholders, with a combined portfolio size of US$53 million across Benin, Botswana, and DRC. As AFC continues to cultivate this synergy with member nations, it remains dedicated to accelerating sustainable development, fostering productivity, and economic growth across Africa.