AfDB announces $50m equity investment in AFC

The African Development Bank (AfDB) on Wednesday announced a $50 million equity investment in African Finance Corporation (AFB).

AfDB made the announcement at the ongoing Africa Investment Forum in Johannesburg, South Africa.

AFC was founded 13 years with equity fund from the Central Bank of Nigeria and some commercial banks including First Bank and Access Bank.

The equity participation from AfDB brings to $1.85bn the paid-up capital of the AFC.