In a landmark achievement, the African Finance Corporation (AFC) has shattered previous records, posting an all-time high revenue of $1.1 billion in 2024  a 22.8% surge powered by bold investments in infrastructure and project finance across the continent.

The pan-African multilateral institution also reported a 22.3% jump in net income to $400 million, up from $327 million the previous year, underscoring the strength of its investment model and its growing influence in transforming Africa’s economic landscape.

"In 2024 we exceeded the billion-dollar revenue mark, delivered game-changing projects, and reinforced our financial resilience, demonstrating the scalability of our unique model that blends purpose with performance to accelerate Africa’s economic transformation," said Chief Executive Samaila Zubairu.

AFC’s financial performance was bolstered by major capital mobilization across sectors including energy, natural resources, and transport. Among the headline projects was the Lobito Corridor, a 1,300km railway linking Angola’s Lobito port to the Democratic Republic of Congo (DRC) and Zambia, aimed at boosting regional trade and connectivity.

The corporation also invested $150 million in the Kamoa-Kakula Copper Complex, one of the largest copper projects globally, reinforcing the DRC’s status as Africa’s top copper producer. Additionally, AFC played a key role in commissioning Africa’s largest refinery the Dangote refinery in Nigeria.

Clean energy was another major pillar, with continued support for Infinity Power Holding’s 10GW renewable energy target, and a strategic $14.1 million investment in the Xlinks Morocco-UK Power Project a transcontinental initiative to export solar and wind energy from North Africa to Europe.

AFC’s record-breaking performance affirms its unique blend of purpose-driven investment and commercial returns, positioning the institution as a central force in driving Africa’s economic transformation through sustainable infrastructure development.