AFC and CEXIM Deepen Partnership to Advance Africa's Infrastructure Development

This renewed partnership highlights AFC and CEXIM’s shared mission to drive economic integration and sustainable development across Africa.

The Africa Finance Corporation (AFC) (www.AfricaFC.org), Africa's leading infrastructure solutions provider, has signed a Memorandum of Understanding (MoU) with the Export-Import Bank of China (CEXIM) to enhance collaboration in financing strategic infrastructure and trade projects across Africa. This expanded partnership aims to accelerate industrialization and foster economic resilience across the continent.

Building on a strong relationship since 2018, AFC and CEXIM have already facilitated significant investments totaling US$700 million, including a US$300 million facility in 2018 and a US$400 million loan in 2023. The renewed agreement will target key sectors such as clean energy, transportation, telecommunications, and climate change mitigation. Additionally, it promotes knowledge exchange and best practices in project structuring and risk management.

Samaila Zubairu, President & CEO of AFC, remarked, "Our partnership with CEXIM strengthens Africa's trade and investment ties with China, creating new pathways for infrastructure development and industrial growth. With CEXIM's support, we are unlocking opportunities to build more resilient economies, mobilize capital at scale, and drive long-term prosperity across the continent."

AFC has significantly expanded its footprint in the Chinese financial markets, recently achieving an AAA domestic credit rating from China Chengxin International Credit Rating Co. Ltd (CCXI) and an AAAspc issuer credit rating from S&P Ratings (China) Co., Ltd. These ratings underscore AFC's robust financial position and disciplined capital management. In addition, AFC secured a US$1.16 billion syndicated loan last year, co-led by the Bank of China and the Industrial and Commercial Bank of China (ICBC) London Branch.

This renewed partnership highlights AFC and CEXIM's shared mission to drive economic integration and sustainable development across Africa. Together, they aim to mobilize funding for high-impact projects, enhance trade finance solutions, and bolster private sector growth, ultimately contributing to the continent's long-term economic prosperity.