Africa Finance Corporation (AFC) Gets a Boost from DRC’s Rawbank

 

The Africa Finance Corporation (AFC) is growing its team of investors with some fresh cash from Rawbank, a big shot bank in the Democratic Republic of Congo (DRC). This is kind of a big deal because it shows AFC is really serious about getting more African money to build stuff on the continent. They've been around for almost 20 years, working hard to make Africa's economy better by improving infrastructure.

A Big Step for African Economic Friendship

AFC has been at the top of the game in Africa, working on projects that help the environment and make life better for everyone. Now, with Rawbank joining the club, it's like they're saying, "Hey, we're all in this together!" This new friendship means AFC can do even more big projects in the DRC and other parts of Africa.

Making Things Happen in the DRC

So far, AFC has put over US$200 million into the DRC to help with things like mining, power, moving people and goods around, and making big stuff. They've got even more money (about US$850 million) ready to go for future projects. Some of the cool stuff they're working on now includes a giant solar farm with Sky Power Global, a big road plan called the Lobito Corridor to connect countries, and a new way for people to get around Kinshasa with Trans Connexion Congo (TCC).

Rawbank's Big Moves

Mustafa Rawji, the big boss at Rawbank, talked about how important this investment is. It's like their first time buying a piece of a big financial group, and they're pretty stoked about it. They want to use this to fund projects that can really change the game in their country.

Samaila Zubairu, who's in charge of AFC, is also pretty happy. He said it's great that African companies are joining forces to make the continent richer and more developed.

More Friends with Money

AFC's got a bunch of investors now, including governments, pension funds, and insurance companies from different African countries. It's like a cool club of people who all want to make Africa's economy stronger. And get this, even countries like Egypt, Sierra Leone, and Seychelles are part of it. Plus, Turk Exim Bank from Turkey joined them, which is pretty cool because they're not even from Africa.

With all these new friends, AFC is set to keep making Africa's future look brighter. They're basically the superheroes of African investment, connecting everyone to build a better tomorrow.