Abuja: Africa Finance Corporation (AFC), the continent's leading infrastructure solutions provider, announced that the Republic of Equatorial Guinea has officially joined as its 47th Member State. This development follows the recent accession of the Central African Republic, marking a significant expansion of AFC's presence in Central Africa.
According to African Press Organization, Equatorial Guinea, known for its resource wealth, has set a long-term vision prioritizing industrialization, economic diversification beyond hydrocarbons, and the development of transport, logistics, energy, and digital infrastructure. The country's Horizon 2035 strategy focuses on investments that enhance regional integration, human capital, and resilience against global market volatility.
Equatorial Guinea's membership with AFC aligns with these objectives by allowing the government to utilize AFC's technical expertise and project development capabilities to expedite infrastructure projects. AFC aims to collaborate with both public and private sectors to explore opportunities in renewable energy, logistics, transport, and natural resources.
H.E. Ivan Bacale Ebe Molina, Minister of Finance, Planning and Economic Development, emphasized the significance of this partnership in advancing Equatorial Guinea's Horizon 2035 strategy. He highlighted the importance of diversifying the economy, strengthening infrastructure, and creating sustainable opportunities. AFC's track record and commitment to African-led development make it a valuable partner for achieving these goals.
Samaila Zubairu, President and CEO of AFC, expressed enthusiasm over Equatorial Guinea's membership, acknowledging the country's proactive agenda for economic diversification and infrastructure development. AFC is prepared to support the nation through project development, financing, and risk mitigation to drive sustainable growth.
Equatorial Guinea's inclusion also enhances AFC's ability to attract global capital to key sectors in Central Africa, integrating the region into global trade routes. The country joins other Central African nations in partnering with AFC to promote sustainable growth through infrastructure advancement.
As a Member State, Equatorial Guinea will benefit from AFC's array of services, including project preparation, equity investments, and risk mitigation, to support transformative projects. This membership underscores AFC's mission to provide African-led solutions to the continent's infrastructure challenges, fostering job creation and industrial competitiveness.
With Equatorial Guinea's accession, AFC concludes a successful year with three new countries joining, increasing its membership to 47 African nations and reinforcing its position as a leader in infrastructure solutions on the continent.