Africa Finance, an infrastructure solutions provider in Africa, secured a $100 million, 10-year term loan facility from FinDev Canada, a bilateral development finance institution. This transaction represents Africa Finance’s debut in the Canadian market and its first partnership with FinDev Canada, while also marking FinDev Canada’s inaugural infrastructure financing in Sub-Saharan Africa.
The facility will strengthen AFC’s funding base and support a growing pipeline of renewable energy and low-carbon transport projects across Sub-Saharan Africa, further expanding the corporation’s commitment to climate-resilient infrastructure development.
FinDev Canada joins AFC’s growing pool of funding partners which includes international development finance institutions such as Cassa Depositi e Prestiti SpA (CDP) – the Italian Development Finance Institution, KfW – the German Development Bank, the India Exim Bank, The Export-Import Bank of the Republic of China, US International Development Finance Corporation and Germany’s DEG, Netherland’s FMO and France’s Proparco.
“We are delighted to partner with FinDev Canada on this milestone transaction,” Banji Fehintola, executive board member and head of financial services at Africa Finance, said. “This partnership reflects our shared commitment to accelerating sustainable development across the continent through high-impact, climate-resilient infrastructure. The transaction not only diversifies AFC’s funding base but also deepens North America’s participation in Africa’s growth story. We look forward to building on this relationship to catalyse even greater investment flows into Africa’s infrastructure sector.”
Paulo Martelli, vice president and chief investment officer of FinDev Canada, said, “This transaction represents an opportunity for FinDev Canada to support a leading solutions provider financing critical infrastructure in Sub-Saharan Africa and an important step towards expanding our market presence in the region. We are proud to invest in an institution which aligns with our impact development goals, particularly market development and climate and nature action.”
The proceeds from the facility will support Africa Finance’s long-term funding strategy, enabling the corporation to deliver innovative financing solutions that tackle climate change, strengthen energy access and promote sustainable economic growth.
