AFC set to finalise N36bn investment in Nigeria’s mining sector

Continental multilateral financial institution, Africa Finance Corporation (AFC) is on the verge of finalising a $100 million (N36.5 billion) investment deal in Nigeria’s mining sector. About half of the planned investment into the mining sector is coming by way of debt, equity, and off-take instruments.

The AFC Senior Vice President, Investments, Begna Gebreyes, said in an interview recently on the sidelines of the Nigerian Mining Week that the institution is a very big supporter of the Nigerian mining sector from inception. According to Gebreyes, AFC has started investing throughout the continent, adding that the multilateral finance institution was actively desirous of investing in Nigeria.

On the volume of investment the AFC is considering making in the Nigeria mining sector for a start, he said, “We’re looking at an investment size of a $100 million and we will be looking at half of the investment coming by way of debt, equity and offtake instruments.”

Source: THIS DAY

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