Cabo Verde joins Africa Finance Corporation

27 March 2014

Cabo Verde (Cabo Verde) has joined the Africa Finance Corporation (AFC), an international organisation set up through a treaty between sovereign states, according to Cape Verdean newspaper Expresso das Ilhas.

The document for joining the AFC was signed in Lagos by Cabo Verde’s Minister for Finance and Planning, Cristina Duarte, as part of a four-day visit to Nigeria accompanied by Cape Verdean businesspeople that travelled there to present investment projects.

The current members of the Africa Finance Corporation (AFC) are Nigeria (hosting country), Ghana, Guinea Bissau, Chad, Sierra Leone, Gambia, Liberia and Guinea Conakry.

As well as Cab Verde other countries are in the process of joining the AFC, such as Cameroon, Zambia, Mozambique and the Community of East African States, which includes Uganda, Tanzania, Burundi and Rwanda.

The AFC’s shareholders are Several African financial institutions (47.6%), the Nigerian Central Bank (42.5 percent) and companies (9.8 percent). (macauhub)