Angola Becomes Newest Sovereign Shareholder in AFC with USD 184.8mn Investment

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Angola has officially joined the Africa Finance Corporation (AFC) as a sovereign shareholder, pledging a significant USD 184.8 million in equity. This marks a pivotal moment both for Angola’s national development strategy and for AFC’s continued mission to expand its shareholder base across the African continent.

The announcement was made late Tuesday by AFC President and CEO Samaila Zubairu, who emphasised that Angola’s investment signals a strong alignment between the country’s long-term development goals and the AFC’s strategic, continent-wide investment framework.

“This is a critical milestone in our efforts to widen the scope of shareholder participation across Africa,” Zubairu noted. “Angola’s commitment reflects confidence in our ability to deliver transformative infrastructure and industrial solutions across the region.”

Angola’s Minister of Finance, Vera Daves de Sousa, echoed this sentiment, describing the investment as both a strategic move and a testament to AFC’s proven track record. She highlighted the value of the partnership in mobilising sustainable, long-term financing for the country’s key economic sectors.

“AFC has consistently supported Angola’s diversification agenda by financing crucial projects in infrastructure, energy, and industry. We are proud to strengthen our relationship with such a dependable partner, and we anticipate even deeper collaboration in the years ahead,” said Minister de Sousa.

Among the most prominent examples of this collaboration is the Lobito Corridor – a major regional transportation initiative spearheaded by AFC. This cross-border infrastructure project connects Angola with Zambia and the Democratic Republic of Congo, facilitating regional trade and economic integration.

Angola’s equity stake builds on its 2022 entry into the AFC as a member state and follows nearly USD 1 billion in AFC-financed initiatives within its borders. These have included vital developments in power generation, logistics, railway infrastructure, and the critical minerals sector – all essential pillars of Angola’s broader economic reform and diversification strategy.

This new investment also strengthens AFC’s Lusophone presence, as Angola becomes the second Portuguese-speaking African nation, after Cape Verde, to become an equity shareholder. The move helps diversify AFC’s investor base while extending its reach across different linguistic and regional blocs.

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Founded in 2007 and headquartered in Lagos, Nigeria, the AFC has to date invested more than USD15 billion in infrastructure projects spanning 36 African countries. Its main areas of focus include energy, natural resources, transport, industrial development, and telecommunications.

Angola’s USD 184.8 million investment by the Ministry of Finance adds to an earlier USD 25 million equity contribution made by its sovereign wealth fund earlier in the year, reinforcing the nation’s commitment to regional development and economic transformation through AFC’s platform.