Angola has become the newest sovereign shareholder in the Africa Finance Corporation (AFC), committing $184.8 million in equity to the pan-African development finance institution.
Announcing the development late Tuesday, AFC president and chief executive Samaila Zubairu said Angola’s capital commitment underscored the value of aligning national development ambitions with AFC’s pan-African investment model.
“This marks a significant step in AFC’s journey to broaden shareholder representation across Africa,” Zubairu said.
Angola’s Finance Minister Vera Daves de Sousa described the investment as a vote of confidence in AFC’s track record and a key lever for mobilising long-term development finance.
“The corporation has been a trusted ally over the last few years, financing strategic sectors including infrastructure, energy, and industrial projects critical to our diversification efforts, and we look forward to a continued, mutually beneficial partnership,” the minister said.
She pointed to ongoing collaboration on projects like the Lobito Corridor – an AFC-led regional transport network spanning Angola, Zambia and the Democratic Republic of Congo – as an example of high-impact, cross-border infrastructure.
The landmark investment followed Angola’s 2022 accession to AFC membership and built on nearly $1 billion in past AFC-backed projects within the country.
These include major investments in power, logistics, rail and critical minerals – pillars of Angola’s economic diversification agenda.
Angola joins Cape Verde as the second Lusophone country to become an equity investor in AFC, expanding the institution’s geographic footprint and shareholder diversity.
AFC, established in 2007 and headquartered in Nigeria, has invested over $15 billion in infrastructure projects across 36 African nations.
With 45 member states, its core focus areas include energy, natural resources, transport, industry and telecommunications.
The investment by Angola’s Ministry of Finance complements an earlier $25 million equity commitment made by the country’s sovereign wealth fund earlier this year.
JN/APA