Browsing: Lobito Corridor

• AFC’s landmark wind farm in Djibouti set the country on a path to becoming the first African country fully powered by renewable energy.
• Last year, the corporation committed to overhauling Kinshasa’s mass transit system to enhance mobility.
• 2023 saw the AFC welcome three new members—Ethiopia, Burundi, and Sao Tome and Principe.

As the world looks into Africa to launch the next development phase, the Africa Finance Corporation (AFC) is increasingly emerging as a participant and a pacesetter in African infrastructure investments.

Last year marked a watershed moment for the organization, as AFC’s impact was evident in an ambitious slate of projects that span the spectrum of Africa’s developmental needs, from renewable energy sources and transport corridors to mining and climate resilience initiatives.

AFC’s impact on key economic corridors

Last year was a standout moment for AFC, with the corporation not merely navigating but thriving amidst growing global tensions, inflationary pressures, …

• Emuwa brings to Africa Finance Corporation a wealth of experience over three decades.
• He has been a part of AFC’s Board since 2015, previously serving as the Board Risk and Investment Committee Chairman.
• AFC, with its partners, is the biggest investor in renewable energy in Africa

Africa Finance Corporation (AFC), the continent’s leading instrumental infrastructure solutions provider, has appointed Emeka Emuwa as Chairman of its Board of Directors.

Emuwa brings a wealth of experience spread over three decades, leading and transforming banking institutions across Africa.

After completing a 25-year career with Citibank, where he left as the Country Officer and Managing Director of Citibank in Nigeria, he went on to serve as the Group Managing Director and Chief Executive Officer of Union Bank of Nigeria.

In this role, he led the bank’s transformation. He worked successfully with the new shareholders to transform and restore one of …

• Africa’s infrastructure gaps hinder populations from accessing healthcare, education, trade hubs, and economic opportunities.
• Africa has only 53 per cent of paved roads, isolating millions of people from access to essential services.
• AfDB President says the development of regional corridors should be complemented with one-stop border posts to stimulate trade.

Across Africa, the continent’s road infrastructure deficit creates high production and transaction costs. A new report notes that these persistent bottlenecks in the vast continent must be addressed to scale opportunities envisaged under the Africa Continental Free Trade Area (AfCFTA).

The “Cross-Border Road Corridors Expanding Market Access in Africa and Nurturing Continental Integration” report states that while roads are the primary mode of transport, carrying 80 per cent of goods and 90 per cent of passenger traffic, only 43 per cent of Africa’s main population have access to an all-season road. According to the International Monetary Fund, Africa’s …