AFC and Mizuho Bank Sign Memorandum of Understanding to Boost Sustainable Economic Growth in Africa and Asia | Company

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TUNIS, Tunisia–(BUSINESS WIRE)–August 30, 2022–

Africa Finance Corporation (AFC), Africa’s leading infrastructure solutions provider, and Mizuho Bank, a leading global bank with one of the largest customer bases in Japan, have signed a Memorandum of Understanding to collaborate on project and infrastructure finance, trade and treasury finance to drive sustainable economic growth in Africa and Asia. This agreement was signed during the 8th Tokyo International Conference on African Development which has just ended in Tunisia.

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AFC and Mizuho Bank Sign Memorandum of Understanding to Foster Sustainable Economic Growth in Africa and Asia (Photo: Business Wire)

Through this partnership, AFC and Mizuho Bank are committed to co-finance infrastructure projects in Africa in key sectors such as energy, transport and telecommunications. The agreement also aimed to realign Africa’s trade position, providing innovative financing instruments to facilitate trade between Africa and Japan.

In addition, Mizuho Bank will leverage AFC’s industry expertise and global network to enhance its support for Japanese companies and other multinationals doing business in Africa. For AFC, the Company will benefit from closer access to the Japanese and Asian capital markets for its financing activities.

Samaila Zubairu, President and CEO of Africa Finance Corporation, said, “This partnership is an important step in our journey to build the alliances that will provide sustainable solutions in a timely manner to build the instrumental infrastructure that enables the industrialization of Africa and unlocks the prosperity of our continent. Asia and especially Japan are critical for Africa’s next phase of growth and structural transformation. We are delighted to enter into a new partnership today with Mizuho Bank, one of Japan’s largest financial institutions.

For more than 15 years, AFC has gained experience in raising global capital for critical infrastructure projects in Africa. The Company recently received equity investments from the Public Investment Corporation (PIC), Africa’s largest asset manager, the Seychelles Pension Fund, the Government of Sierra Leone and the Central Bank of Guinea, which demonstrates investors’ confidence in AFC’s key role in elevating Africa as a key engine of global growth.

Ends.

Notes to Editors

About AFC

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

Fifteen years later, AFC has earned a reputation as the partner of choice in Africa for investing in and delivering high-quality instrumental infrastructure assets that deliver essential services in the core infrastructure sectors of power, natural resources, heavy industry, transport and telecommunications. AFC has invested over US$10 billion in 35 African countries since its inception.

www.africafc.org

See the source version on businesswire.com: https://www.businesswire.com/news/home/20220830005552/en/

CONTACT: Yewande Thorpe

Communication

African Finance Corporation

Mobile: +234 1 279 9654

Email: [email protected]

Gavin Serkin

New Markets Media & Intelligence

Telephone: +44 20 3478 9710

Email: [email protected]

KEYWORD: AFRICA TUNISIA

SECTOR KEYWORD: FINANCE BANKING PROFESSIONAL SERVICES OTHER TECHNOLOGIES TECHNOLOGY

SOURCE: FCA

Copyright BusinessWire 2022.

PUBLICATION: 08/30/2022 07:16 / DISK: 08/30/2022 07:17

http://www.businesswire.com/news/home/20220830005552/en

Copyright BusinessWire 2022.

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