Ghana has marked its seventh anniversary as a member state of the Africa Finance Corporation by becoming a sovereign shareholder in the corporation, making an initial equity investment of $10m.
The government of Ghana has also committed to invest another $40m in the corporation; representing the second tranche of its $50m commitment to purchase AFC equity. Ghana has been a member state of AFC since February 2011.
According to a statement, the AFC said investments in its equity could be made by its member states, by international organisations, as well as by private sector corporations.
The President and Chief Executive Officer, AFC, Andrew Alli, was quoted in the statement as saying that, “This investment not only strengthens the partnership between the AFC and Ghana, it also serves as an acknowledgement of the AFC’s efforts thus far in the development and financing of infrastructure in Africa and acts as an incentive for the AFC’s continued commitment to infrastructure development in Ghana.”
The Deputy Minister of Finance of Ghana, Charles Adu Boahen, was quoted to have said, “The AFC remains an infrastructure development partner of choice for the government of Ghana. The corporation has proven its commitment to the socio-economic development of the country, in particular; in addition to its growing presence across the continent and stands as a beacon of corporate pan-Africanism.
“Ghana strongly encourages other African nations to invest in AFC to enhance the fulfillment of her mandate, to facilitate the continuous delivery of sustainable infrastructure assets and projects in the countries and the respective regions.”
Over the past 10 years, the AFC has mobilised more than $1.2bn of investments into Ghana.