Japanese Investment in Africa Finds New Support through Africa Finance Corporation (AFC) and Japan Institute for Overseas Investment (JOI) Partnership
In order to expand investment in Africa, the African Finance Corporation (AFC) (www.AfricaFC.org), the continent’s leading provider of infrastructure solutions, and the Japan Overseas Investment Institute (JOI), an initiative of the Japan Bank for International Cooperation (JBIC), will undertake a series of initiatives to promote capital flows.
Building on AFC’s strong partnership with JBIC, the memorandum of understanding (MOU) signed with JOI aims to promote transformation projects, accelerate Africa’s energy transition and enhance economic sustainability. The MoU highlights the two organizations’ shared commitment to strengthening economic relations between Japan and African countries, and is expected to work together to provide Japanese investors with critical insights, risk reduction solutions and access to financing opportunities on the continent opportunity.
Banji Fehintola, AFC Executive Board Member and Head of Financial Services, commented: “Japan has been a key partner in our mission to deliver transformational infrastructure solutions in Africa. By partnering with JOI, we aim to create a better world for Japanese investors. An enabling environment, thereby promoting impactful investment and promoting economic prosperity in mainland Japan.”
Kenichiro Hayashi, President of JOI, said: “The partnership with AFC marks an important step forward in promoting investment opportunities for Japanese companies in Africa, and together with AFC, we will provide necessary information to Japanese companies. This partnership not only strengthens It strengthens our ties and strengthens our shared vision for a prosperous future through strategic investments.”
AFC’s influence in Japan’s capital markets continues to grow. In 2022, AFC secured a $389 million dual-currency Samurai term loan facility, attracting strong interest from Japanese investors, including Mizuho Bank Ltd., MUFG Bank Ltd. and acting as mandated lead arranger Sumitomo Mitsui Banking Corporation as bookrunner and bookkeeper. In 2019, AFC launched its first samurai loan facility, raising US$233 million and 1 billion yen.
Distributed by APO Group on behalf of the African Finance Corporation (AFC).
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About AFC:
AFC was established in 2007 to promote pragmatic infrastructure and industrial investment in Africa. AFC’s approach combines specialist industry 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 sustainable economic growth.
For seventeen years, AFC has a proven track record as Africa’s partner of choice in investing in and delivering useful, high-quality infrastructure assets that provide essential services to core infrastructure sectors such as power, natural resources, heavy industry, transport and more and telecommunications. The AFC has 43 member countries and has invested US$13 billion across Africa since its inception.
