Ghana Becomes AFC’s Sovereign Shareholder

Ghana has marked its 7th anniversary as a member state of Africa Finance Corporation (AFC) by becoming a sovereign shareholder in the corporation, making an initial equity investment of US$10 million.

The Government of Ghana has also committed to invest a further US$40 million in the corporation; representing the second tranche of its U$50 million commitment to purchase AFC equity.

Ghana has been a Member State of AFC since February 2011.

Investments in the equity of AFC can be made by its Member States, by international organisations, as well as by private sector corporations.

Commenting on the development, a statement quoted the President and Chief Executive Officer of AFC, Andrew Alli, to have said: ““This investment not only strengthens the partnership between AFC and Ghana, it also serves as an acknowledgement of AFC’s efforts thus far in the development and financing of infrastructure in Africa and acts as an incentive for AFC’s continued commitment to infrastructure development in Ghana”.

Also, the Deputy Minister of Finance of Ghana, Charles Adu Boahen noted thatAFC remains an infrastructure development partner of choice for the Government of Ghana.

“The corporation has proven its commitment to the socioeconomic development of the country, in particular; in addition to its growing presence across the continent and stands as a beacon of Corporate PanAfricanism. “Ghana strongly encourages other African nations to invest in AFC to enhance the fulfillment of her mandate, to facilitate the continuous delivery of sustainable infrastructure assets and projects in the countries and the respective regions,” he added.