The Public Investment Corp. (PIC), Africa’s largest asset manager, with more than $150 billion in assets under management, is planning to make an inaugural investment of $100 million in the Africa Finance Corp. (AFC).
The approved investment follows recent investments from the Seychelles Pension Fund, the Government of Sierra Leone, the Republic of Togo, the Central Bank of Guinea and the Ghana Infrastructure Investment Fund, which are among the 32 equity investors in AFC. These investments further embed the active collaboration among African sovereigns, financial institutions and the private sector.
AFC’s investment footprint spans 35 countries across Africa. As a shareholder, PIC will further benefit from co-investment opportunities and access to AFC’s project development and risk-mitigated projects on the continent across the power, transport and logistics, natural resources, telecommunications, and heavy industrial sectors.
“This equity investment is
