Africa Finance Corporation lobbies for Ethiopia for membership

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(Photo: Anteneh Aklilu)

Africa Finance Corporation (AFC) which was established in 2007 to bridge Africa’s infrastructure investment gap is lobbying Ethiopia for membership.
“Ethiopia is under policy reform to liberalize the economy for privatization,” Sanjeev Gupta Executive Director of AFC told Capital.
The delegation held fruitful talks with Ahmed Shide the Minister of Finance, Sileshi Bekele, Minister of Water Irrigation and Electricity, Yinager Dessie, Governor of the Central Bank and Abebe Abebayehu of the Investment Commission.
According to Gupta, AFC wants to develop the power sector in Ethiopia with a special emphasis on industrial parks and other infrastructure development.
Owned by African governments, African banks, Private equity funds, and Insurance groups, AFC, has operated in twenty nine African countries so far including Egypt, Morocco and Cote d’ivoire in financing power, road and mining projects.
“The Zero membership cost makes AFC unique and encourages countries to join and invest as well,” Gupta said.
Africa Finance Corporation, a multilateral development finance institution, provides various financial services in Africa. It offers project financing services, such as debt, equity, and mezzanine financing; project development and management services; trade and equipment finance services; technical and financial advisory services; early stage risk capital; corporate finance; and debt/equity syndication services, as well as structured products.
“AFC is delighted by the discussion with Ethiopian officials and hopes Ethiopia will join very soon,” Gupta said.