Business
Africa Finance Corporation (AFC) Receives Top Accolades at Europe, Middle East, and Africa (EMEA) Finance Achievement Awards
![](https://thegleamer.com/wp-content/uploads/2024/06/fit.jpeg)
Joel Ajayi
The award affirms AFC’s leadership in structuring and executing complex financial transactions that foster sustainable development across regions
Africa Finance Corporation (www.AfricaFC.org), the continent’s leading infrastructure solutions provider, received top accolades at the EMEA Finance Achievement Awards in London yesterday. AFC won “Most Innovative Bond” and the “Best Supranational Syndicated Loan,” a testament to the Corporation’s strong credit profile and solid track record in capital markets.
“The Most Innovative Bond” accolade in the Debt Capital Markets category recognised AFC’s pioneering JPY 75 billion Samurai Bond Guarantee to the Arab Republic of Egypt, showcasing commitment to innovative financial solutions that support member states’ access to international capital markets and contribute to infrastructure development. Egypt, which became a member state of AFC in 2021 and a shareholder last year, benefited from the landmark bond issuance backed by Sumitomo Mitsui Banking Corporation, with AFC providing a full re-guarantee and SMBC Nikko acting as the Sole Lead Arranger.
The “Best Supranational Syndicated Loan” award celebrates AFC’s success in securing a S$625 million syndicated loan last year, welcoming new lenders from the Middle East and Asia. Initially planned at US$500 million, the transaction was upsized due to a remarkable oversubscription of 62%, reflecting strong investor demand for AFC’s credit. The award affirms AFC’s leadership in structuring and executing complex financial transactions that foster sustainable development across regions.
“These awards are a very welcome validation of AFC’s strong market access, the strength of our credit profile, and our well-established investor engagement program,” said Banji Fehintola, Senior Director of Treasury & Financial Institutions of AFC. “AFC will continue to play a central role in mobilising the capital urgently needed for critical infrastructure to drive industrialisation, transform economies and improve livelihoods in Africa.”
Now in its 16th edition, the EMEA Achievement Awards celebrate exceptional achievements by the banking and finance sectors across Europe, the Middle East, and Africa (EMEA). Award winners chosen by the EMEA Finance editorial team exemplify diligent and innovative work taking place across the EMEA region and driving capital market transactions.
The EMEA Finance Achievement Awards adds to a series of accolades for AFC’s Treasury & Funding teams this year, including “Sovereign, Supra & Agency Treasury & Funding Team of the Year” at the 2024 Bonds, Loans & ESG Capital Markets Africa Awards. The JPY 75 billion Samurai Bond Guarantee to Egypt also earned AFC the “Innovation of the Year (MENA)” award recently at the IJGlobal Awards Gala.
Business
Climate Change: GIZ Lead Efforts To Boost Collaboration In Africa
![](https://thegleamer.com/wp-content/uploads/2024/08/IMG-20240828-WA0129.jpg)
Mariam Sanni
The German Agency for International Cooperatives ,GIZ has intensify efforts on climate change by announcing the formation of Association of Africa Climate Adaptation Business Network (AACABN) to foster collaboration among African businesses dedicated to climate adaptation.
Dr. Denis Mujibi of Usomi (Usomi) expressed gratitude to the German government, GIZ, and all stakeholders for their support.
He is the first cohort to establish such an association that is also aimed to build on the program’s momentum on climate adaptation.
The association selected Suleiman Dikwa (Green Sahara Nigeria) as Chairman and Dr. Denis Mujibi (Usomi) as Secretary. The Steering Committee comprises four members: Greg Ikwe (Oklan Best Limited), Elizabeth Mbogo (Nazava), Ibukunoluwa Animashaun (FutuX Agri-consult Ltd), and Greg Ikwe (Oklan Best Limited).
GIZ has endorsed this initiative, recognizing its strategic alignment with their objectives to sustain support for climate adaptation businesses and facilitate investment in the sector.
The establishment of AACABN marks a significant step towards creating a unified network of climate adaptation enterprises across Africa, poised to drive meaningful change and innovation.
Similarly , the two-year program, organized by GIZ, aimed at enhancing business modeling and financial linkages for climate adaptation, has successfully come to a close.
The intensive program engaged 13 select African companies from Kenya and Nigeria, with the final segment held at a summer camp in Feldafing, Germany.
The initiative focused on developing sustainable business models, measuring impact, and preparing companies for investment readiness in the climate adaptation sector. Participants underwent diverse training modules tailored to address various sectors, including:Agriculture, Forestry, Climate-smart technologies , Infrastructure, Irrigation, Water, among others .
Through this program, participants gained valuable insights and skills to refine their business approaches and adapt to evolving climate challenges.
During the closing ceremony, the African Climate Adaptation Business Network was formally established,
The Program Head Denise Engel praised the program’s achievements in promoting peer learning and enhancing business models to attract investments.
Inaugural Members of PrivABoo: Arctic, Infrastructure, Botanic Treasures, CoFarms
Ecocycle,FutuX Agri-consult Ltd, Green Sahara, IrriHub, MajiAgri, Nazava,Oklan Best Limited,Peal, Agro., Usomi, Utooni, and White Gold Camel Milk
-
Featured5 years ago
Lampard Names New Chelsea Manager
-
Featured4 years ago
FG To Extends Lockdown In FCT, Lagos Ogun states For 7days
-
Featured5 years ago
NYSC Dismisses Report Of DG’s Plan To Islamize Benue Orientation Camp
-
Featured4 years ago
Children Custody: Court Adjourns Mike Ezuruonye, Wife’s Case To April 7
-
Featured3 years ago
Transfer Saga: How Mikel Obi Refused to compensate me After I Linked Him Worth $4m Deal In Kuwait SC – Okafor
-
Sports2 years ago
TINUBU LAMBAST DELE MOMODU
-
Featured5 years ago
Board urges FG to establish one-stop rehabilitation centres in 6 geopolitical zones
-
News1 year ago
Jubilation In Kaduna As Tribunal Upholds Ekene Adam Winner Of Reps Election