June 13, 2024

Africa Finance Corporation Receives Top Accolades at Europe, Middle East, and Africa (EMEA) Finance Achievement Awards

2 min read


Africa Finance Corporation , the continent’s leading infrastructure solutions provider, has received top accolades at the EMEA Finance Achievement Awards in London . AFC won “Most Innovative Bond” and the “Best Supranational Syndicated Loan,” a testament to the Corporation’s strong credit profile and solid track record in capital markets.

“The Most Innovative Bond” accolade in the Debt Capital Markets category recognised AFC’s pioneering JPY 75 billion Samurai Bond Guarantee to the Arab Republic of Egypt, showcasing commitment to innovative financial solutions that support member states’ access to international capital markets and contribute to infrastructure development. Egypt, which became a member state of AFC in 2021 and a shareholder last year, benefited from the landmark bond issuance backed by Sumitomo Mitsui Banking Corporation, with AFC providing a full re-guarantee and SMBC Nikko acting as the Sole Lead Arranger.

The “Best Supranational Syndicated Loan” award celebrates AFC’s success in securing a S$625 million syndicated loan last year, welcoming new lenders from the Middle East and Asia. Initially planned at US$500 million, the transaction was upsized due to a remarkable oversubscription of 62 percent, reflecting strong investor demand for AFC’s credit. The award affirms AFC’s leadership in structuring and executing complex financial transactions that foster sustainable development across regions.

“These awards are a very welcome validation of AFC’s strong market access, the strength of our credit profile, and our well-established investor engagement program,” said Banji Fehintola, Senior Director of Treasury & Financial Institutions of AFC. “AFC will continue to play a central role in mobilising the capital urgently needed for critical infrastructure to drive industrialisation, transform economies and improve livelihoods in Africa.”

Now in its 16th edition, the EMEA Achievement Awards celebrate exceptional achievements by the banking and finance sectors across Europe, the Middle East, and Africa (EMEA). Award winners chosen by the EMEA Finance editorial team exemplify diligent and innovative work taking place across the EMEA region and driving capital market transactions.

The EMEA Finance Achievement Awards adds to a series of accolades for AFC’s Treasury & Funding teams this year, including “Sovereign, Supra & Agency Treasury & Funding Team of the Year” at the 2024 Bonds, Loans & ESG Capital Markets Africa Awards. The JPY 75 billion Samurai Bond Guarantee to Egypt also earned AFC the “Innovation of the Year (MENA)” award recently at the IJGlobal Awards Gala.

AFC:
AFC was established in 2007 to be the catalyst for private sector-led infrastructure investment across Africa. AFC’s approach combines specialist industry expertise with a focus on financial and technical advisory, project structuring, project development, and risk capital to address Africa’s infrastructure development needs and drive sustainable economic growth.

Seventeen years on, AFC has developed a track record as the partner of choice in Africa for investing and delivering on instrumental, high-quality infrastructure assets that provide essential services in the core infrastructure sectors of power, natural resources, heavy industry, transport, and telecommunications. AFC has 43 member countries and has invested US$13 billion across Africa since inception.

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