Djibouti latest member to join AFC

DjiboutiOKORO CHINEDU
LAGOS, (CAJ News) – DJIBOUTI has become the newest member of Africa Finance Corporation (AFC), an international investment grade multilateral finance institution investing in key infrastructure projects across
Africa.

Speaking from Lagos, Ali Guelleh Aboubaker, Minister of Investments in the Office of the President, expressed delight Djibouti had become a member of  AFC, an international organisation with a proven track record in
large-scale infrastructure investment.

He said the government of Djibouti was committed to proactively investing  in essential infrastructure to drive economic growth and doing what they  could attract international private investors to infrastructure investment
opportunities.

“We look forward to working with AFC to deliver projects with real and positive economic and social impact across the country,” said Aboubaker.

Andrew Alli, President and Chief Executive Officer of AFC, welcomed Djibouti to the corporation.

He described Djibouti is a small but important market, with natural  strengths as a transport and logistics hub thanks to the government’s successful free trade policies and its location at the gateway to the Red
Sea.

“Djibouti offers some great investment opportunities and AFC is delighted to be assisting Djibouti to meet its full growth potential and to create  jobs for its citizens,” Alli said.

Djibouti is the 14th country and the third east African country to join the AFC.

The corporation’s other members are Cape Verde, Chad, Ghana, Gabon,  Guinea-Bissau, Guinea, Ivory Coast, Liberia, Nigeria, Sierra-Leone, Rwanda, The Gambia and Uganda.

Membership enables AFC to receive preferred creditor status within the  country, the benefits of which reduce AFC’s investment risk, enabling the  corporation to provide more competitive financing solutions.

CAJ News

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