Breaking News
Translate

Ghana becomes sovereign shareholder in AFC, to invest $50m

By Tare Youdeowei

THE Republic of Ghana has become a sovereign shareholder in  Africa Finance Corporation, AFC and is set to invest  $50 million commitment to purchase AFC equity.

Ghana achieved this status by being a member state of AFC for seven years.

This was made known by  Hon. Charles Adu Boahen, Deputy Minister of Finance.

Stock Market

He said: “AFC remains an infrastructure development partner of choice for the Government of Ghana. The Corporation has proven its commitment to the socio-economic development of the country, in addition to its growing presence across the continent and stands as a beacon of Corporate Pan-Africanism. Ghana strongly encourages other African nations to invest in AFC to enhance the fulfillment of its mandate; to facilitate the continuous delivery of sustainable infrastructure assets and projects in the countries and the respective regions.”

Lauding Ghana’s milestone, Andrew Alli, President and Chief Executive Officer of AFC said: “This investment not only strengthens the partnership between AFC and Ghana, but also serves as an acknowledgement of AFC’s efforts thus far in the development and financing of infrastructure in Africa, as well as acts as an incentive for AFC’s continued commitment to infrastructure development in Ghana.”

Over the past 10 years, AFC has mobilized more than US$1.2 billion of investments into Ghana.


Disclaimer

Comments expressed here do not reflect the opinions of vanguard newspapers or any employee thereof.