A deal to jointly target infrastructure projects in Kenya has been launched by Africa Finance Corporation, the premier provider of infrastructure solutions on the continent, and CPF Financial Services (CPF), a prominent provider of cutting-edge financial solutions in Kenya.
AFC and CPF Financial Services have agreed to work together to identify, develop, and co-finance priority infrastructure projects that are in line with Kenya’s development roadmap by utilizing their combined technical expertise and access to domestic and international capital. The agreement was signed in Nairobi on the first morning of the Africa Climate Summit.
The collaboration aligns AFC, with a track record of generating competitive returns on over US$12.7 billion of investments in transformational infrastructure projects across 36 African countries, with CPF, one of Kenya’s leading institutional investors with more than US$1 billion in assets under management. African institutional investors, including pension funds, insurance companies and asset managers, hold nearly US$1trillion dollars of assets under management, equivalent to a third of the continent’s combined GDP and more than 5 times the annual infrastructure and climate financing needs of the continent.
“African institutional investors are one of the single largest sources of investable capital and will play a catalytic role in bridging Africa’s infrastructure gap,” said Samaila Zubairu, President & CEO of AFC “It is with this immense potential in mind that we are partnering with CPF Financial Services. Our combined expertise and access to capital will accelerate progress towards achieving economic prosperity and job creation for Kenya and, ultimately, the African continent.”
AFC is a major development partner in Kenya—a sovereign member since 2017—with cumulative investments of approximately US$400 million in the country to date and a robust in-country pipeline of infrastructure, industrial and trade finance projects valued at over US$750 million.
“We are excited to collaborate with AFC, a recognised leader in the infrastructure sector,” said Hosea Kili Group Managing Director and CEO of CPF Financial Services. “This alliance aligns perfectly with our goals of creating value-driven solutions and supporting Kenya’s infrastructure agenda. By working together, we aim to unlock new opportunities and facilitate sustainable economic growth.”