The Africa Finance Corporation (AFC) announced on Tuesday July 13, 2021, that Togo is now part of shareholder base of the institution.
With this new milestone reached, Togo should “benefit from increased investment from AFC, as well as from higher risk-adjusted returns of the Company and competitive dividend payments”.
“Since Togo became a member of AFC in 2018, the Corporation has led a EUR30 million investment in the Kekeli Efficient Power project, the country’s first gas-fired combined cycle power plant, which will generate enough power to meet 35% of Togo’s energy needs.” stated the multilateral institution.
The leading infrastructure solutions provider in Africa, ” has also invested US$150 million in creating value chains for Togo’s food processing, textiles, pharmaceuticals, automotive and recycling industries as co-developer of the recently inaugurated Plateforme Industrielle d’Adétikope (PIA) project with the ARISE Integrated Industrial Platform “.
Togo will therefore be able to receive financial contributions in a wider range of sectors such as electricity, transport infrastructure, natural resources, heavy industries or telecommunications.
For the Togolese Government, this entry into AFC’s shareholding is in line with the infrastructure financing diversification policy initiated a few years ago.