Africa Finance Corporation Secures US$625 million to bolster economic growth across Africa : TechMoran

by Digital Brainiacs
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Africa Finance Corporation , the leading infrastructure solutions provider on the continent has has secured a US$625 million syndicated loan with new lenders from the Middle East and Asia.

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Gulf Bank, National Bank of Ras Al-Khaimah, China CITIC Bank Corporation, Qatar National Bank, Doha Bank and Industrial Bank of Korea Limited joined the syndicate as first-time lenders to AFC, strengthening the Corporation’s coalition of investors and global capital market access.

“Our ability to tap global financial markets despite challenging macroeconomic conditions continues unabated, demonstrating investor confidence in AFC’s strong credit risk profile and broadening global appeal,” said Banji Fehintola, Senior Director and Treasurer of AFC. “The funds raised will support AFC in furthering its mission of fostering economic growth and rapid industrialisation across Africa, whilst ensuring optimal value addition for the continent’s vast resources.”

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