AFC aims to have $5bn in assets by 2019

Multilateral development finance institution Africa Finance Corporation (AFC) on Wednesday reported that it had invested $688-million during the 2016 financial year, returning a robust financial performance of $115.3-million in total comprehensive income – a 64% year-on-year improvement. The institution, which sets out to bridge Africa’s significant infrastructure gap through private sector investment, further reported significant growth in its balance sheet, to $3.4-billion, paired with a 51% increase in net profit to $109.4-million.