Cabo Verde Becomes Memebr Of Africa Finance Corporation

Cabo Verde Becomes Memebr Of Africa Finance Corporation

From Asemana

Minister of Finances and Planning Cristina Duarte signed an accord in Lagos, Nigeria for Cape Verde to join the Africa Finance Corporation. The ceremony, which took place during the event AFC Live, also featured Duarte’s participation in the panel discussion “Growing Together – bridging the infrastructure divide.”

With the signing of the accord, Cape Verde will begin the process through which it will join this important manager of funds for the African region. The AFC’s shareholders include various African financial institutions (47.6 percent), the Nigerian central bank (42.5 percent) and numerous business entities (9.8 percent).

The Africa Finance Corporation has individual legal instruments with all of the rights, privileges and immunities conferred upon international financing institutions.

The members of the AFC are Nigeria (which hosts the institution), Ghana, Guinea Bissau, Chad, Sierra Leone, Liberia and Guinea, but the number of members is expected to expand with the entry of Cameroon, Zambia, Mozambique, Kenya, Uganda, Tanzania, Burundi and Rwanda.

Read more at Asemana