Rating Release

Agusto & Co. affirms the “Aaa” (NGA), “Aa” (foreign currency) and S2 (short-term foreign currency) ratings assigned to Africa Finance Corporation, with a stable outlook 

The rating expires on 30 June 2025. 

The ratings assigned to Africa Finance Corporation (“AFC” or “the Corporation”) reflect the Corporation’s role as a multilateral development financial institution in Africa with a preferred creditor status in 42 African countries, which enhances its capacity to drive infrastructure development in Africa. The assigned ratings reflect AFC’s good asset quality, upheld by a stringent risk management framework, good profitability for a development bank, a strong liquidity profile, and good capitalisation as demonstrated through continued capital raise from existing shareholders and the ability to attract new investors. AFC’s resilience in the face of the difficult operating climate and heightened political risks in most African countries has also been factored into the rating.