Turk Eximbank joins AFC as first non-African shareholder
TLDR
- AFC secures historic equity investment from Turk Eximbank, the first non-African shareholder for AFC.
- The investment highlights AFC's role as a bridge between Africa and global stakeholders for development and prosperity.
- The collaboration showcases the growing partnership between African and non-African entities for mutual benefit.
Africa Finance Corporation (AFC), a prominent infrastructure solutions provider on the continent, has achieved a historic milestone by securing an equity investment from Turk Eximbank, representing the Republic of Türkiye. This marks the first time AFC has onboarded a non-African sovereign shareholder.
The equity investment, facilitated by Türkiye’s official export credit agency, Turk Eximbank, is significant for AFC's mission to serve as a bridge between Africa and global stakeholders interested in contributing to the continent's development and prosperity.
This strategic move aligns with Türkiye's broader vision of promoting resilient and sustainable growth in Africa, as outlined in the government's Africa Partnership Policy. The investment underscores the relevance of AFC in realizing these developmental aspirations and highlights the growing collaboration between African and non-African entities for mutual benefit.
Key Takeaways
Türkiye has demonstrated steadfast support as an ally in Africa's development journey, showcasing its commitment as a strategic partner of the African Union and strong advocacy for Pan-Africanism. The country has played a pivotal role in stimulating both public and private investment in sectors that contribute to economic growth across the continent. Türkiye has evolved into one of the primary development and commercial partners for Africa, with trade between Türkiye and Africa surging from $5.4 billion in 2003 to $40.7 billion in 2022. This substantial growth reflects the deepening collaboration and engagement between Türkiye and African nations, contributing to the shared objectives of development and economic progress.
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