Finance Corporation to accelerate bankable projects in Africa

The President, African Finance Corporation (AFC) Mr Andrew Alli, has pledged the corporation’s willingness to improve the number of bankable and viable infrastructure projects in Africa.

Alli made the pledge at a news conference during the 10th Africa Finance Corporation Live Summit tagged the “Infrastructure Revolution”.

He commented on the importance of project development expertise in African infrastructure investment

“The earliest stage of conception and development of any project is crucial. Private capital will not come to invest in African infrastructure if projects are not sustainable and bankable.”

“By focusing on supporting project development and using our local knowledge and sector expertise to identify and mitigate risks, we can help accelerate the number of viable, bankable projects across the continent.”

“We will also create the market for other forms of capital to follow, and ultimately bridge the investment divide that currently exists,” he said.

AFC Live coincides with AFC’s 10th anniversary, that sees the Corporation celebrating a decade of pioneering infrastructure investment and project development, over which it has invested approximately 4 billion dollars across 30 countries.

At the summit, AFC also launched its pioneering infrastructure investment report in conjunction with Boston Consulting Group (BCG).

The report proposes guidelines for the public and private sector for investing in infrastructure and highlights best practice case studies in the industry including Cenpower Kpone IPP, Ghana, and Henri Konan Bédié Bridge, Côte d’Ivoire.

The summit is sponsored by international law firm, Hogan Lovells; professional services company, KPMG; an international petroleum group, Petrolin Group; and leading credit and political risk Insurance Broker, Texel Finance Limited.

Some of the keynote speakers included acting President Yemi Osinbajo, Minister of Finance, Kemi Adeosun, CBN Governor, Godwin Emefiele, Prof Chukwuma Soludo, Tony Elumelu and Minister of Power, Works and Housing, Mr Babatunde Fashola.