Published On: Thu, Mar 30th, 2017

Africa Finance discloses financial targets

Andrew Alli, President and Chief Executive Officer and President of AFC

Andrew Alli, President and Chief Executive Officer and President of AFC

LAGOS, (CAJ News) – NIGERIA-based Africa Finance Corporation (AFC), a leading pan-African multilateral development finance institution and project developer, is confident of attaining its short term financial targets despite economic challenges.
Andrew Alli, President and Chief Executive Officer and President of AFC,said AFC aimed to be a US$5 billion corporation by 2019.
“Despite a challenging economic environment, we are confident that we have built the firm foundations necessary to continue delivering positive socio-economic change across Africa,” Ali said.
“Ahead of our 10 year anniversary in May, we look forward to the next chapter in AFC’s growth story.”
Alli spoke as the group disclosed its fiscal results for 2016.
It reported $115,3 million in total comprehensive income, which is up 64 percent year-on-year.
AFC reported $3,4 billion in total assets.
AFC’s mission is to address Africa’s pressing infrastructure needs and build the foundations for robust economic development across the continent, while seeking a competitive return on investment for its shareholders.
The Corporation has invested approximately US$4 billion in projects across 28 African countries and in its core sectors including power, telecommunications, transport and logistics, natural resources and heavy industries.
CAJ News

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