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Africa Finance Corporation Expands in Central Africa as Equatorial Guinea Joins as 47th Member State

Lagos: Africa Finance Corporation (AFC), the continent's top infrastructure solutions provider, has officially welcomed the Republic of Equatorial Guinea as its 47th Member State. This development follows closely after the Central African Republic's accession, marking a significant expansion of AFC's presence in Central Africa. According to African Press Organization, Equatorial Guinea, known for its abundant resources, has set forth a long-term national plan emphasizing industrialization, economic diversification beyond hydrocarbons, and the enhancement of transport, logistics, energy, and digital infrastructure. The country's Horizon 2035 strategy focuses on investments to add value, improve regional integration, develop human capital, and bolster resilience against global market fluctuations. By joining AFC, Equatorial Guinea aligns its national goals with the corporation's resources, gaining access to technical expertise and project development capabilities to advance infrastructure projects. AFC intend s to collaborate with both public and private stakeholders to explore opportunities in vital sectors such as renewable energy, logistics, and transport, as well as natural resource beneficiation. H.E. Ivan Bacale Ebe Molina, the Honourable Minister of Finance, Planning and Economic Development of Equatorial Guinea, emphasized that joining AFC marks a crucial milestone in the nation's development path. The membership supports Equatorial Guinea's commitment to diversifying its economy, strengthening infrastructure, and creating sustainable opportunities for its citizens. The Minister expressed confidence in AFC's expertise and dedication to African-led development, viewing the corporation as an ideal partner for delivering impactful projects that contribute to long-term growth. Samaila Zubairu, President and CEO of Africa Finance Corporation, expressed enthusiasm in welcoming Equatorial Guinea into the fold. He highlighted the country's ambitious agenda for economic diversification and infrastructure developm ent, affirming AFC's readiness to support transformational projects through its unique project development and financing approaches. Equatorial Guinea's membership also enhances AFC's ability to attract global investment into strategic sectors within Central Africa, thereby strengthening the region's integration into global trade routes. The country joins other Central African nations in collaborating with AFC to foster sustainable growth through infrastructure initiatives. As a Member State, Equatorial Guinea will benefit from AFC's comprehensive range of products, including project preparation, equity investments, debt financing, and risk mitigation tools aimed at facilitating financing for viable projects. The membership further reinforces AFC's mission to deliver African-led solutions to the continent's infrastructure challenges, laying the groundwork for job creation, industrial competitiveness, and long-term prosperity. With the inclusion of Equatorial Guinea, AFC concludes a noteworthy year, having expanded its membership to encompass 47 African nations, thereby significantly enhancing its influence across the continent. This expansion highlights AFC's pivotal role as Africa's premier infrastructure solutions provider, driving industrialization and fortifying regional value chains.

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