February 7, 2025 - 21:34
Africa Finance Corporation (AFC), a prominent player in infrastructure solutions across the continent, has made a significant comeback in the Islamic finance sector by raising $400 million through a Shariah-compliant Commodity Murabaha facility. This marks AFC's first venture into the Islamic finance market in eight years, highlighting a renewed commitment to leveraging ethical financing options for development projects.
The successful fundraising effort is expected to bolster AFC's capacity to fund critical infrastructure initiatives throughout Africa, addressing the pressing need for investment in sectors such as transportation, energy, and telecommunications. Samaila Zubairu, the President and CEO of AFC, emphasized the importance of this facility in supporting the corporation's strategic objectives and enhancing its portfolio.
Zubairu's insights reflect a broader trend of increasing interest in Islamic finance as a viable alternative for raising capital in the region. The move not only underscores AFC's leadership in infrastructure financing but also signals a growing confidence in the potential of Islamic financial instruments to drive sustainable development across Africa.
