AFC and China’s CEXIM Expand Partnership to Boost Trade and Infrastructure Development in Africa

Africa Finance Corporation (AFC), a leading provider of infrastructure solutions in Africa, has signed a Memorandum of Understanding (MoU) with the Export-Import Bank of China (CEXIM) to strengthen cooperation in financing trade and infrastructure projects across the continent.

Building on a partnership that began in 2018, the agreement underscores a shared commitment to accelerating Africa’s economic growth through sustainable investments. To date, AFC has secured a total of US$700 million in financing from CEXIM, including a US$300 million facility in 2018 and a US$400 million loan in 2023. The renewed collaboration will prioritize funding for projects in key sectors such as clean energy, transportation, telecommunications, and climate change mitigation. It will also facilitate knowledge-sharing on project structuring and risk management.

"Our partnership with CEXIM strengthens Africa’s trade and investment ties with China, creating new pathways for infrastructure development and industrial growth,” said Samaila Zubairu, President & CEO of AFC. “Strategic collaborations like this are key to accelerating Africa’s industrialisation, and with CEXIM’s support, we are unlocking opportunities to build more resilient economies, mobilise capital at scale, and drive long-term prosperity across the continent."

AFC has been expanding its presence in Chinese financial markets, recently earning an AAA domestic credit rating from China Chengxin International Credit Rating Co. Ltd (CCXI) and an AAAspc issuer credit rating from S&P Ratings (China) Co., Ltd. These ratings reflect AFC’s financial strength, disciplined capital management, and growing access to diverse funding sources. In addition, AFC secured a US$1.16 billion syndicated loan last year, co-led by the Bank of China and the Industrial and Commercial Bank of China (ICBC) London Branch.

The partnership between AFC and CEXIM highlights their shared vision of fostering economic integration and sustainable development in Africa. By working together, the two institutions aim to mobilize funding for transformative projects, enhance trade finance solutions, and support private sector growth across the continent.