AFC Secures Record $524M Samurai Loan, Expands Presence in Japan Markets

AFC’s engagement in Asia continues to accelerate, with the Corporation having raised over US$1.3 billion across Asian markets, including China, India, and South Korea, over the last decade.

Africa Finance Corporation (AFC), one of the continent’s leading infrastructure financing institutions, has successfully closed a landmark US$524 million equivalent dual-currency Samurai term loan facility, marking its largest Samurai loan to date. The three-year syndicated financing comprises US$505 million and JPY 3 billion, reflecting strong confidence from Japanese lenders and deepening financial engagement between Africa and Asia.

The facility was significantly oversubscribed, demonstrating robust market appetite and increasing recognition of AFC’s credit strength, operational resilience, and investment strategy focused on bridging Africa’s infrastructure financing gap.

This milestone builds on AFC’s strategic momentum in Japan’s capital markets, following key achievements such as:

• Its maiden Samurai loan in 2019

• A successful guarantee of Egypt’s JPY 75 billion Samurai bond in 2023

• Full repayment of its 2022 Samurai facility of US$419 million equivalent

• The award of an A+ (Stable) credit rating by the Japan Credit Rating Agency (JCR) in early 2025

AFC’s engagement in Asia continues to accelerate, with the Corporation having raised over US$1.3 billion across Asian markets, including China, India, and South Korea, over the last decade.

Speaking on the development, Banji Fehintola, Executive Board Member and Head of Financial Services at AFC, said:

“Japan remains a strategic market for AFC. The strong support from Japanese lenders in this latest Samurai loan underscores growing confidence in AFC’s mandate and its track record. This successful transaction further strengthens our capital base and enhances our access to diversified global funding as we continue accelerating infrastructure-led development across Africa.”

The latest loan was arranged by long-standing Asian banking partners Mizuho Bank, MUFG Bank, and SMBC Bank International, who served as Mandated Lead Arrangers and Bookrunners. The transaction received strong investor momentum following AFC’s lender engagement during the Tokyo International Conference on African Development (TICAD 9) in August.

The facility also marks an important milestone in diversifying AFC’s lender base, with participation from several first-time Asian financial institutions, including:

• Bank of Taiwan

• China Construction Bank Corporation

• First Commercial Bank

• Taiwan Business Bank

• The Chiba Bank

• The Shizuoka Bank

• The Yamanashi Chuo Bank

The proceeds from this financing will be allocated toward general corporate purposes, enabling AFC to further its mission of developing critical infrastructure across Africa in sectors such as transportation, digital infrastructure, renewable energy, logistics and industrial growth.

This transaction not only strengthens AFC’s liquidity position but also reinforces Japan’s growing role in development financing for Africa, signalling a new phase in cross-border capital flow and cooperation.