ASEACC meets with IFC and the AFC

This week, ASEACC met with representatives from the International Finance Corporation (IFC) and the African Finance Corporation (AFC) to discuss ongoing projects and potential areas of collaboration.
IFC is a member of the World Bank Group and is the largest global development institution focused on the private sector in emerging markets. ASEACC was glad to facilitate the meeting between IFC and the AFC.

The Africa Finance Corporation (AFC)is a recent ASEACC member and longtime partner of other ASEACC member Olam International. During their visit to Singapore this week, the AFC's representatives were Banji Fehintola (CFA), Executive Board Member and Head of Financial Services; Mohammed Usman Abdul-Razaq, Senior Vice President, Head of Capital Mobilization and Partnerships; and Temitope Mudabai, Vice President, Capital Mobilisation and Partnerships. The ASEACC-AFC meeting on 17 January was also attended by Haresh Aswani of Tolaram Group, Jaya Krishnan of Enterprise Singapore, Gabriel Wang of Top International Holding, and Low Kai Lun of Wilmar International—a third ASEACC member.

The AFC is Africa’s only infrastructure-focused development finance institution (DFI) and has invested over $15 billion in transformative infrastructure projects across the continent. They received an AAA domestic credit rating with a stable outlook from China Chengxin International Credit Rating Co. Ltd (CCXI) from 13 January 2025.
ASEACC and all its members continue to look forward to future investments and collaborations with the AFC and IFC.