AFC is an independent, majority private-sector owned, multi-lateral African financial institution providing project structuring expertise and risk capital to address Africa’s pressing infrastructure, capacity and economic development needs. With 27 member countries, and an investment footprint that has disbursed over US$7 billion across 30 countries in Africa in the power, transport, telecommunications, heavy industries and natural resources sectors, it is a truly Pan-African institution.
Putting up something like this that didn’t exist before is going to come with challenges anywhere. We have people who are resistant to change and don’t see the need for it. There is also a difference in plans and ambition with each country. We can, however, gain from the fact that West African countries are all firmly focused on improving their agricultural sectors. The onus is on us as countries to form synergies that will see us achieve our goals. There are foreseeable problems amongst countries when it comes to proprietary arguments and the need for ownership and self-preservation, but that shouldn’t deter us from the overall goal.
Perceptions are changing, and people appreciate the technology we have incorporated into the exchange. Farmers are thrilled by the fast payments, and those who aren’t comfortable using the technology are sending their children to be the floor traders for them. Opportunities exist for creating partnerships, but they must be constructed in a way that adds value to all parties involved.
"One of the key areas for AFC going forward over the next five years is how to de-risk African infrastructure for institutional global capital. How are we able to make African investment attractive to global capital?
We do that by building a coalition of investors. We are looking at how to work with a coalition of investors from across the globe for African investment opportunities. We think it is improving."
"Successory Nigeria CEO, Dr Steve Ogidan, is bringing together a broad coalition of institutions committed to driving African growth through microfinance.
Microfinance, when implemented effectively and sustainably, has been credited with lifting millions out of poverty, addressing gender inequality, and providing access to finance that aspiring business-owners can not usually access from traditional bank loans."