Abuja: Africa Finance Corporation (AFC), the continent’s leading infrastructure solutions provider, has announced that Equatorial Guinea has become its 47th member state. This development is part of AFC’s strategic expansion in Central Africa, following the recent accession of the Central African Republic.
According to African Press Organization, Equatorial Guinea, known for its rich resources, is focused on a long-term national vision aimed at industrialization, economic diversification beyond hydrocarbons, and the enhancement of its transport, logistics, energy, and digital infrastructure. The country’s Horizon 2035 strategy emphasizes investments that can enhance regional integration, boost human capital, and fortify resilience against global market fluctuations.
Membership in AFC is aligned with Equatorial Guinea’s strategic priorities, offering the government access to AFC’s technical expertise, project development capabilities, and financial resources to drive significant infrastructure projects. AFC plans to collaborate with both public and private stakeholders to explore opportunities in sectors such as renewable energy, transport, and natural resources.
H.E. Ivan Bacale Ebe Molina, the Minister of Finance, Planning and Economic Development of Equatorial Guinea, expressed that joining AFC is a critical step in the nation’s development path. He highlighted the importance of diversifying the economy, strengthening infrastructure, and creating sustainable opportunities as part of their Horizon 2035 strategy. AFC’s proven expertise and commitment to African development make it a valuable partner in achieving these goals.
Samaila Zubairu, President and CEO of AFC, welcomed Equatorial Guinea as the 47th member state, praising the country’s ambitious agenda for economic diversification and infrastructure development. He emphasized AFC’s readiness to employ its project development and financing capabilities to facilitate transformative projects in collaboration with the government and private sector partners.
Equatorial Guinea’s membership enhances AFC’s capacity to attract global capital to key sectors in Central Africa, integrating the region into international trade routes and value chains. The country joins other Central African nations in partnering with AFC to foster sustainable growth through infrastructure development.
As a member state, Equatorial Guinea will have access to AFC’s range of products, including project preparation, equity investments, debt financing, and risk mitigation tools, designed to channel financing into viable projects. This membership reinforces AFC’s mission to provide African-led solutions to infrastructure challenges, which is crucial for job creation and industrial competitiveness.
With Equatorial Guinea’s accession, AFC concludes a significant year, welcoming three new member countries and expanding its membership to 47 African nations, thereby reinforcing its role as a leading infrastructure provider in Africa.