Finance corporation

Africa Finance Corporation changes name on its 15th anniversary

The financial institution Africa Finance Corporation (AFC) has changed its name to mark its 15th anniversary, with a new logo and a slogan that reads: “Instrumental infrastructure”. Instrumental Africa”.

In a March 28 statement, the AFC said the new logo embodied the organization’s mission to advance Africa’s global standing.

“At the heart of our approach, transforming infrastructure into an instrument of change. We . . . deliver . . . solutions to close Africa’s infrastructure gap and unlock our continent’s prosperity,” AFC said.

AFC aims to highlight Africa as a major supplier of enriched resources, goods and services, and as the main source of metals and minerals for the new energy transition, thereby creating jobs for the workforce. – the largest and youngest workforce in the world.

The AFC rebranding was designed to reiterate its capabilities in sectors such as heavy equipment, energy, natural resources, transportation, logistics and telecommunications.

“Our new identity reinforces our role in promoting Africa’s instrumental role as an engine of global growth. Through impact investing in infrastructure, we are committed to helping the continent position itself for greater success in a world of growing crisis and complexity,” said the AFC Chief Executive Officer. Samaila Zubairu.

Considering that Africa’s infrastructure investment needs are estimated at between $130 billion and $170 billion per year, AFC’s new branding has been designed to be emblematic of its strategic development role in the sectors most critical as engines of growth for sustainable economic development.

AFC said its approach builds on Africa’s many advantages, including the African Continental Free Trade Area, which has created the world’s largest single market with nearly 1.4 billion people .

Africa has the world’s largest reserves of critical minerals, such as cobalt, which are needed for the global green energy transition. The continent also has a labor force that is expected to surpass that of China or India by 2034 and a population that is expected to reach 2.5 billion by 2050.

Moreover, returns from investments in African infrastructure often exceed those in other emerging markets, AFC said.

“Our new brand endorses and anticipates the growing role Africa will play as it takes its rightful place on the world stage,” Zubairu concluded.