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Africa Finance Corporation (AFC) receives AAA rating from China Chengxin, as the Corporation positions for further diversification in funding sources

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Africa Finance Corporation

The AAA rating from CCXI affirms the Corporation’s intrinsic financial strength and disciplined approach to risk management

LAGOS, Nigeria, January 13, 2025/APO Group/ — 

Africa Finance Corporation (AFC) (www.AfricaFC.org), the continent’s leading infrastructure solutions provider, has received an AAA domestic credit rating with a stable outlook from China Chengxin International Credit Rating Co. Ltd (CCXI). The milestone rating enables AFC to deepen its engagement in China’s vast domestic debt capital markets. It positions the Corporation to tap a new pool of investors and further diversify its funding sources to accelerate industrialisation and critical infrastructure development across Africa.

“As a leading MDB in the region, AFC has clear strategic positioning and the ability to achieve its established goals,” CCXI analysts concluded in a report. “AFC implements a sound risk management framework and maintains a prudent risk appetite. Furthermore, its insured loan portfolio effectively mitigates the credit risk of its projects.”

“Receiving an AAA credit rating from CCXI is another significant endorsement of AFC’s strong credit profile and a defining moment in AFC’s capital-raising strategy,” said Samaila Zubairu, President & CEO of AFC. “This recognition at the highest level validates our financial resilience, robust governance, and global reach, and will enable stronger ties with Asian markets to drive essential investment in economic development, high-value job creation, and Africa’s prosperity.”

“Among various funding options, AFC intends to explore its first panda bond issuance in the near term. This credit rating positions the Corporation to further engage with the Chinese bond investor base in 2025 and beyond. This initiative also underscores AFC’s commitment to leveraging global financial markets to support transformative infrastructure projects,“ said Banji Fehintola, Executive Board Member and Head, Financial Services of AFC.

The AAA rating from CCXI affirms the Corporation’s intrinsic financial strength and disciplined approach to risk management. In 2023, AFC delivered remarkable financial results, posting a 15.3% increase in profits to US$329.7 million, and a 17.3% rise in total assets to US$12.3 billion. This surpassed AFC’s strategic target of US$10 billion in assets. The Corporation’s capital position, as measured by its Basel II ratio, remained robust at 34.5% in 2023, further demonstrating the strength of its balance sheet. Liquidity Coverage Ratios (LCR) stood at 161% under a normal scenario and 143% in a stress scenario, underscoring the robustness of AFC’s financial health.

Receiving an AAA credit rating from CCXI is another significant endorsement of AFC’s strong credit profile and a defining moment in AFC’s capital-raising strategy

Speaking to the strength of AFC’s financial performance, CCXI analysts noted: “AFC successfully achieved its strategic indicators during the 2019-2023 period. Over the five years, the average return on capital rose from approximately 7% to 12%, while total assets increased substantially, growing from about US$4.5 billion at the end of 2018 to US$12.3 billion at the end of 2023.”

Moreover, AFC’s ability to consistently expand its membership base highlights its role as a key player in African development. The CCXI report concluded: “Since its establishment in 2007 with just two founding member states, AFC has consistently outpaced other African MDBs in attracting new member states. Between 2023 and June 2024, AFC welcomed new member states, including The Federal Democratic Republic of Ethiopia, The Republic of Burundi, The Democratic Republic of Sao Tome and Principe, and The Kingdom of Swaziland.”

AFC has “expanded its investments and influence across key sectors such as energy, mining, transportation and industry,” CCXI’s analysts wrote, “which have bolstered its presence in the pan-African region and advanced its contributions to climate action and energy transition initiatives.”

“Notable projects” cited include the Dangote Refinery in Nigeria, transforming the region’s energy landscape; ARISE Integrated Industrial Platforms (ARISE IIP), fostering industrialisation across Africa; and Infinity Energy, Africa’s leading renewable energy platform.

AFC enjoys significant support and collaboration with Asian financial institutions. In 2024, the Corporation secured a landmark US$1.16 billion syndicated loan, with pivotal roles played by Bank of China and Industrial and Commercial Bank of China (ICBC) London Branch. Among multiple funding transactions in 2023, AFC also received a five-year loan facility from The Export-Import Bank of China (CHEXIM) aimed at enhancing trade finance and supporting private sector projects.

The expanding presence illustrates AFC’s strategic focus on strengthening partnerships and collaboration to advance high-impact, sustainable development outcomes through its role as a vital bridge between Africa’s infrastructure needs and the vast opportunities within global capital markets.

Distributed by APO Group on behalf of Africa Finance Corporation (AFC).

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Liberia to Preview Next Oil & Gas Licensing Round Strategy at Houston Investor Day

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The Liberia Petroleum Regulatory Authority will host operators, investors and partners in Houston on August 19 to preview future licensing opportunities and showcase the exploration potential of its offshore basins

HOUSTON, United States of America, August 7, 2026/APO Group/ –The Liberia Petroleum Regulatory Authority (LPRA) will present its strategy for the country’s next offshore licensing round at Liberia Investor Day Houston on August 19, bringing together international exploration companies, investors, service providers and energy leaders to discuss the next phase of Liberia’s upstream development.

Hosted in partnership with Energy Capital & Power, the event will provide a platform for the LPRA, led by Director General Hon. Marilyn T. Logan, to outline Liberia’s regulatory framework, investment priorities and plans to attract new participation across the country’s offshore sector. Discussions will focus on upcoming licensing opportunities, exploration prospects and the subsurface data supporting future investment decisions.

Liberia’s offshore sector is entering a new phase of exploration activity, with renewed international participation and a growing pipeline of opportunities. Following the award and ratification of eight Production Sharing Contracts in 2025, Liberia has re-established itself as a frontier exploration destination, with international operators advancing work programs designed to further evaluate the country’s petroleum potential. TotalEnergies is progressing exploration activities that include offshore geochemical surveys, 3D seismic acquisition and seabed mapping, while Oranto Petroleum has also signed contracts to explore Liberia’s offshore.

At the Liberia Investor Day Houston, the LPRA will provide industry stakeholders with insight into the priorities shaping the next licensing round, including the anticipated process, qualification requirements, available acreage and access to technical data. The engagement will give prospective investors a clearer view of Liberia’s exploration landscape and the opportunities emerging across its offshore basins.

The event will also facilitate direct dialogue between LPRA and the global upstream community, connecting companies with policymakers and industry stakeholders involved in shaping Liberia’s next chapter of petroleum development.

As exploration companies continue to seek new frontier opportunities, Liberia Investor Day Houston will highlight the role of regulatory certainty, data availability and strategic partnerships in unlocking long-term investment across Liberia’s offshore sector.

Registration is now open for attendees. Companies interested in Liberia’s emerging offshore opportunities are invited to join LPRA, investors and upstream leaders in Houston for insights into the country’s licensing strategy and exploration outlook. For more information contact info@energycapitalpower.com.

Distributed by APO Group on behalf of Energy Capital & Power.

 

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Beyond Stabroek: Guyana’s Offshore Basin Attracts New Wave of Exploration Investment

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As ExxonMobil advances appraisal activity in Stabroek and new operators target frontier acreage, Guyana is attracting global capital and building a diversified offshore portfolio designed to sustain long-term growth

GEORGETOWN, Guyana, August 7, 2026/APO Group/ –Guyana’s transformation into one of the world’s fastest-growing oil producers is entering a new phase, with a growing network of IOCs expanding exploration activity across the country’s offshore basin. Beyond the landmark discoveries that first put Guyana on the global energy map, new drilling campaigns and licensing partnerships are creating a broader exploration ecosystem designed to support long-term production growth.

At the center of this momentum is ExxonMobil’s continued exploration and appraisal activity in the prolific Stabroek Block. The company has submitted a proposal for a 35-well exploration and appraisal drilling campaign, expected to run from 2028 through 2033, pending regulatory approval. The program would build on more than 30 commercial discoveries already made in the block, with drilling activity focused on evaluating new prospects and appraising existing discoveries to support future development opportunities.

Exploration activity is also extending into Guyana’s frontier acreage, with ExxonMobil advancing drilling operations at the deepwater Canje Block. The company has deployed the Noble Stena Carron drillship for exploration activity, highlighting continued industry interest in evaluating Guyana’s underexplored offshore potential beyond the established Stabroek Block.

Guyana’s strong exploration outlook comes as the country’s economy continues to benefit from rapid oil sector expansion, with hydrocarbons expected to remain a key driver of exports, government revenues and economic growth. As production scales up, attracting additional investment across exploration, services and infrastructure will be critical to supporting the next phase of development.

That momentum is being reinforced through partnerships established under Guyana’s 2023 offshore licensing round. A consortium comprising TotalEnergies, QatarEnergy and Petronas is advancing exploration activities in Block S4 under a five-year production sharing agreement signed with the government in late 2025. The award represents one of the first major outcomes of the licensing round and demonstrates continued international confidence in Guyana’s offshore resource potential.

Beyond the largest operators, a diverse group of companies is also expanding activity across Guyana’s offshore basin. Eco Atlantic is advancing exploration at the Orinduik Block; CGX Energy and Frontera Energy are progressing work in the Corentyne Block; Occidental is evaluating opportunities in the Roraima Block; while Ratio Guyana and Cataleya Energy hold interests in the Kaieteur Block. Together, these partnerships are broadening Guyana’s exploration landscape, increasing competition for acreage and creating opportunities for future discoveries.

As Guyana transitions from an emerging producer to a global energy hub, the next challenge will be converting exploration success into sustainable investment, local value creation and regional growth. These opportunities will be explored at Caribbean Energy Week 2027, held under the theme “Unlocking the Caribbean Energy Corridor: Oil, Gas, LNG & Investment for a New Global Hub.” Bringing together governments, IOCs, investors and technology providers, the event will examine how Guyana’s expanding partnerships can accelerate offshore development, strengthen regional energy cooperation and attract the capital needed to support the Caribbean’s evolving energy landscape.

Distributed by APO Group on behalf of Energy Capital & Power.

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Energy Capital & Power Establishes London Entity, Expanding Global Platform for Energy and Mining Events

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The move strengthens ECP’s presence in the UK and Europe, and its ability to connect African and South American markets with global investors

LONDON, United Kingdom, August 6, 2026/APO Group/ –International events company Energy Capital & Power (ECP) (www.EnergyCapitalPower.com) has officially established its UK entity in London, marking a milestone in the company’s growth strategy and reinforcing its ability to deliver world-class energy and mining events and campaigns in the UK and Europe.

By establishing a presence in a key hub like London – the pre-eminent energy and mining finance center – ECP actively shapes the global energy conversation. The expansion positions ECP to better serve clients, partners and investors seeking to develop business opportunities between Africa, Europe, the Americas and energy markets worldwide.

Opening our UK company brings ECP closer to key investors in the global energy finance capital

The milestone comes as ECP strengthens its reach through a series of investment platforms that connect global capital to energy and mining projects. These include the Venezuela Energy Week London Showcase on July 30 – with over 300 delegates registered – and the annual Invest in African Energy Forum, held in Paris as the premier event connecting global investors to Africa’s energy transformation.

ECP hosts high level summits and investor conferences in leading energy and minerals producing countries in Africa and South America, including: Venezuela Energy Week; Angola Oil & Gas; MSGBC Oil, Gas & Power; African Mining Week; Libya Energy & Economic Summit; Congo Energy & Investment Forum; South Sudan Oil & Power; and Caribbean Energy Week. The company has hosted investor forums and supported licensing round roadshows in Houston, London and Paris since 2016.

“Opening our UK company brings ECP closer to key investors in the global energy finance capital,” states CEO James Chester. “Having a permanent presence in London further cements our footprint in Europe, enabling us to fulfil our mission to bring minerals and energy investment to diverse global markets.”

With teams located across Africa, Europe and the Americas, ECP has long-facilitated strategic engagement, market intelligence and industry convening, uniting investors with leading energy and mining projects.

Distributed by APO Group on behalf of Energy Capital & Power.

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