AFC Capital Partners secured $300-million in anchor funding led by the United Nations-backed Green Climate Fund, and plans to close the initial phase of an infrastructure-resilience fund by early 2024. The organization, part of the Lagos, Nigeria-based Africa Finance Corp., is in further talks with other investors and expects the fundraising to later rise to between $450-million and $500-million, said Ayaan Zeinab Adam, AFC Capital’s chief executive officer, in an interview on Tuesday at the Bloomberg New Economy Gateway Africa conference in Marrakesh, Morrocco.
(Bloomberg) Morocco’s removal from the Financial Action Task Force’s so-called gray list in February will “definitely” make it easier and cheaper for the sovereign to raise debt, Finance and Economy Minister Nadia Fettah Alaoui said. Countries are included on the list because of shortcomings in tackling money laundering and terrorist financing, and are subjected to greater oversight.Most Read from BloombergElizabeth Holmes Objects to $250-a-Month Victim Payments After PrisonInstant Pot and Py
AFC Nears Closing of $500 Million Africa Climate Adaptation Fund bloomberg.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bloomberg.com Daily Mail and Mail on Sunday newspapers.
(Bloomberg) Africa needs to monetize its trees to help slow global warming, the head of AFC Capital Partners said. Most Read from BloombergElizabeth Holmes Objects to $250-a-Month Victim Payments After PrisonInstant Pot and Pyrex Maker Instant Brands Files BankruptcyKen Griffin Ramps Up Credit Bets, Anticipating US RecessionTrump Urges Prosecutors to Drop Case, Offers Defense PreviewFed to Pause and Keep Option to Raise Rates in July The continent is home to the Congo Basin tropical forest, s