Africa Finance Corporation (AFC), Africa’s infrastructure solutions provider, and Mizuho Bank, Japan’s largest bank, have signed a Memorandum of Understanding to collaborate on project and infrastructure finance, trade finance, and treasury to drive sustainable economic growth in Africa and Asia.
This agreement was signed in Tunisia at the recently concluded 8th Tokyo International Conference on African Development.
AFC and Mizuho Bank have committed to co-financing infrastructure projects in Africa across key sectors such as energy, transportation, and telecommunications through this partnership. The agreement also sought to realign Africa’s trading position by introducing innovative finance instruments to facilitate trade between Africa and Japan.
Mizuho Bank will also leverage AFC’s specialist industry expertise and global network to strengthen its support for Japanese and other multinational companies doing business in Africa. AFC will benefit from improved access to Japanese and Asian capital markets for its fundraising activities.
“This partnership is a significant milestone in our journey to build the alliances that will deliver timely sustainable solutions for building the instrumental infrastructure that enables Africa’s industrialization and unleashes our continent’s prosperity,” said Samaila Zubairu, President and CEO of Africa Finance Corporation. Asia, particularly Japan, will be critical to Africa’s next phase of growth and structural transformation. We are excited to announce a new partnership with Mizuho Bank, one of Japan’s largest financial institutions.”
AFC has been mobilizing global capital for critical infrastructure projects in Africa for over 15 years. The Corporation has recently received equity investments from the Public Investment Corporation (PIC), Africa’s largest asset manager, as well as the Seychelles Pension Fund, the Government of Sierra Leone, and the Central Bank of Guinea, demonstrating investors’ confidence in AFC’s critical role in elevating Africa as a critical engine of global growth.
