The Empower Africa Business Platform is Now Live !!!
Canada’s development finance institution, FinDev Canada, has committed a USD 100 million loan to the Africa Finance Corporation (AFC), a major infrastructure financier in Africa.
The ten-year facility marks a first-time deal in this region for FinDev Canada and the inaugural Canadian-market transaction for AFC.
The funding will enable AFC to finance a pipeline of climate-sensitive projects across Sub-Saharan Africa, including solar photovoltaic and wind power developments, as well as the construction of low-carbon rail infrastructure for an inter-urban metro system in the Democratic Republic of the Congo.
Paulo Martelli, Vice President & Chief Investment Officer at FinDev Canada, stated that the transaction offers the institution a chance to support “a leading solutions provider financing critical infrastructure in Sub-Saharan Africa” and signals a strategic expansion into the region that aligns with Canada’s goals for market development and climate-and-nature action.
On its part, AFC noted that the partnership strengthens its long-term funding base, diversifies its investor network and deepens North America’s engagement in Africa’s sustainable infrastructure sector.
This collaboration comes amid growing efforts to channel larger amounts of long-term, impact-oriented capital into Africa’s infrastructure needs, particularly in renewable energy access and low-emission transport systems — areas where the continent faces significant deficits yet also sizable opportunities.
In doing so, FinDev Canada and AFC hope to leverage the partnership to catalyze further investment flows into climate-resilient infrastructure across the continent, underscoring the importance of multilateral cooperation between Canadian and African development institutions.
GoMetro, a pioneering South African tech company specializing in fleet management solutions, has successfully secured $11.4 million in its Series A funding round.
Pan-African early-stage fintech fund manager First Circle Capital, backed by development partner International Finance Corporation (IFC) of the World Bank Group, has pledged up to $6 million to accelerate fintech innovation across Africa.
African Infrastructure Investment Managers (AIIM), Africa’s largest dedicated sustainable infrastructure equity manager, has successfully closed its fourth pan-African infrastructure fund, African Infrastructure Investment Fund 4 (AIIF4), with a total of USD748 million raised.
