Sharp Daily
No Result
View All Result
Saturday, July 19, 2025
  • Home
  • News
    • Politics
  • Business
    • Banking
  • Investments
  • Technology
  • Startups
  • Real Estate
  • Features
  • Appointments
  • About Us
    • Meet The Team
Sharp Daily
  • Home
  • News
    • Politics
  • Business
    • Banking
  • Investments
  • Technology
  • Startups
  • Real Estate
  • Features
  • Appointments
  • About Us
    • Meet The Team
No Result
View All Result
Sharp Daily
No Result
View All Result
Home News

Africa Finance Corporation expands presence in East Africa with inclusion of Burundi

Judd Mutua by Judd Mutua
November 18, 2023
in News
Reading Time: 2 mins read

Africa Finance Corporation (AFC) has announced the inclusion of Burundi and São Tomé & Príncipe as its newest member countries, bringing the total to 42 African nations.

Audace Niyonzima, Burundi’s Minister of Finance, Budget, and Economic Planning, expressed enthusiasm about the country’s membership in AFC, stating, “This decision is not only a milestone for our country but also an opportunity for us to foster sustainable economic growth and develop our infrastructure leveraging AFC’s vast network and reach across the continent.”

Read more: How private sector credit can boost Kenya’s economic growth

Burundi’s inclusion marks an expansion of AFC’s presence in East Africa, following recent memberships by South Sudan, Ethiopia, and Somalia. The corporation is set to leverage its expertise in infrastructure development and financing to support Burundi’s National Development Plan, focusing on modernizing and diversifying the land-locked economy. This includes initiatives in key sectors such as mining, transportation, logistics, and energy.

RELATEDPOSTS

Let’s power rural Kenya’s economic revival

April 29, 2025

Reform transport sector to drive Kenya forward

April 24, 2025

The addition of São Tomé & Príncipe enhances AFC’s footprint in Portuguese-speaking Lusophone countries. The West African twin island joins AFC’s existing Lusophone members, including Angola, Guinea Bissau, and Cape Verde. The corporation aims to support São Tomé & Príncipe in achieving its target of generating half of all renewable electricity by 2030. With plans also in place to assist the nation in developing resilient transport infrastructure to withstand climate change impacts, given its vulnerability to rising temperatures, changing precipitation patterns, higher sea levels, and extreme weather.

“We welcome São Tomé and Príncipe, and Burundi into the AFC community and look forward to furthering our close collaboration with both nations’ governments to help advance their economic development and industrialization. I am confident that working together, we will quickly identify projects that will prove transformative in driving import substitution, value addition, job creation, and beneficiation of the abundant natural wealth of both nations,” stated Samaila Zubairu, President & CEO of AFC.

Read more: Chinese firms boost Africa’s infrastructure development, report reveals

Over the last five years AFC has doubled its membership over the past five years, with a focus on driving private sector-led infrastructure projects in Africa such as the 26MW Cabeolica Wind Farm in Cape Verde, the recently inaugurated 60MW Red Sea Power Wind Farm in Djibouti, and the Segilola Gold mine in Nigeria, the country’s first commercial-scale gold mine.

Email your news TIPS to editor@thesharpdaily.com

Previous Post

Apollo Agriculture to improve fertilizer access for 100,000 Kenyan farmers with $2 million funding

Next Post

KHRC slams Ruto for constitutional violations and deception in State of the Nation address

Judd Mutua

Judd Mutua

Judd Mutua is a journalist with wide ranging interests ranging from the world of finance to the latest in tech and business news. Off duty you can find him reading his favorite books and manga. Send tips via jmutua@thesharpdaily.com

Related Posts

Business

Del Monte foods files for bankruptcy in USA

July 3, 2025
News

Private vs Public Pension Funds in Kenya

June 30, 2025
Investments

Investor shift to long term bonds drives oversubscription in CBK’s reopened auction

June 19, 2025
News

The real price of Israel – Iran Conflict for Kenya.

June 19, 2025
Economy

Resilient but strained: Kenyan firms speak out in May 2025 CEO survey.

June 19, 2025
News

Co-op Bank posts KES 6.9 billion profit in Q1’2025

May 16, 2025

LATEST STORIES

Invest in stability: introducing the Cytonn USD money market fund

July 18, 2025

The Importance of Asset Diversification on Kenyan Pension Funds

July 18, 2025

Park your money where it grows: Why more Kenyans are turning to Cytonn Money Market Fund

July 16, 2025

Strategies to boost alcohol and tobacco tax revenues

July 16, 2025

Kenya’s reactive monetary policy

July 16, 2025

Why Employers Should Prioritize Pensions Over One-Time Gratuity Payments

July 10, 2025
Business and Finance Concept - Coin, Currency, Financial Item, Graph,

Opinion: Why lower taxes may be Kenya’s only escape route

July 10, 2025

Nvidia becomes the first company globally to hit USD 4.0 trillion market value

July 10, 2025
  • About Us
  • Meet The Team
  • Careers
  • Privacy Policy
  • Terms and Conditions
Email us: editor@thesharpdaily.com

Sharp Daily © 2024

No Result
View All Result
  • Home
  • News
    • Politics
  • Business
    • Banking
  • Investments
  • Technology
  • Startups
  • Real Estate
  • Features
  • Appointments
  • About Us
    • Meet The Team

Sharp Daily © 2024