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