By Moses Nosike
Dr. Adesegun Akin-Olugbade, Executive Director, General Counsel, Africa Finance Corporation in this interview with Moses Nosike of Saturday Vanguard Business speaks on the need for power investment in Africa. Excerpts:
What is the Africa Finance Corporation doing in Nigeria and Africa as a whole?
The Africa Finance Corporation (AFC) is an African-led international finance institution, established in 2007 by a treaty between independent sovereign states. Currently, eight countries including Nigeria, Ghana, Guinea-Bissau, The Gambia, Sierra-Leone, Liberia, Guinea and Chad have signed the AFC Agreement. AFC is private-sector majority owned, focused on projects in Africa, with the mission to improve African economies by proactively acquiring, financing and managing infrastructure, industrial and financial assets. The Corporation’s authorised capital is US$2.0 billion, of which over US$1.1 billion of paid-up capital has been mobilised from private and public African institutions and member countries. Current Shareholders’ Funds total US$1.3 billion.
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