The Africa Finance Corporation has secured a $300m loan from China’s Export-Import Bank to invest in African manufacturing projects in what the Lagos-based finance institution says is the first deal of its type with Beijing.
In an interview with the Financial Times, Samalia Zubairu, president of the AFC, said: “Having China as one of the investors we can work with is a very good addition for us.”
In the past, the AFC, which was established in 2007, has raised money mainly from the eurobond markets and from European development finance institutions.
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