AFC raises $400m in shariah-compliant commodity Murabaha facility.
Africa Finance Corporation (AFC), the continent’s leading infrastructure solutions provider, has successfully closed a $400 million Shariah-compliant Commodity Murabaha facility, marking its strategic return to the Islamic finance market for the first time in eight years.
This milestone reflects AFC’s commitment to diversifying funding sources while expanding access to ethical and sustainable financing to meet Africa’s infrastructure needs.
Initially launched at $300 million, the facility was upsized to $400 million as strong investor demand resulted in a 47 percent oversubscription.
Emirates NBD Capital Limited, First Abu Dhabi Bank PJSC, and SMBC Bank International Plc acted as Joint Lead Arrangers and Bookrunners for the transaction, reinforcing AFC’s strong relationships with leading global financial institutions.
The transaction attracted participation from eleven leading Islamic financial institutions, including new AFC partnerships with Abu Dhabi Islamic Bank PJSC, Al Rajhi Bank, and Emirates Islamic Bank.
Source: BUSINESSDAY
