Angola has become a shareholder in the African infrastructure and industrial development finance agency, the Africa Finance Corporation (AFC), it was announced on Tuesday. Angola has been a member of the AFC since 2022, but the country has now made an equity investment commitment to the agency of $184.8-million. It should be noted that Angola’s sovereign wealth fund, the Fundo Soberano de Angola, made an equity investment of $25-million into the AFC, earlier this year.

“Angola’s investment in [the] AFC is a powerful affirmation of sovereign alignment with our mission to deliver Africa’s transformation through infrastructure that enables industrialisation,” affirmed AFC president and CEO Samaila Zubairu. “It reflects a shared commitment to pragmatically structure solutions that blend commercial discipline with development purpose. This investment not only strengthens our ability to mobilise capital at scale but also deepens our legitimacy as Africa’s institutional platform – built by and for Africans. It marks a pivotal step forward in our ambition to broaden shareholder representation across the continent.”

To date, the AFC has invested nearly $1-billion in priority development sectors in Angola, namely critical minerals, logistics, power and railways, to support the country’s economic diversification and industrialisation. One such project is the Lobito Corridor railway redevelopment, in which the AFC is the lead developer, with a number of partners. This will link Zambia, the Democratic Republic of Congo and Angola, and unlock value chains in mining, energy and agriculture, as well as provide new opportunities for industrialisation and tourism.

“Angola’s shareholding investment in [the] AFC signals our strong belief in the power of partnerships to deliver lasting economic transformation,” highlighted Angolan Finance Minister Dr Vera Daves de Sousa. “The [AFC] has been a trusted ally over the last few years, financing strategic sectors including infrastructure, energy, and industrial projects critical to our diversification efforts, and we look forward to a continued, mutually beneficial partnership.”

Angola is the second lusophone country to become an equity investor in the AFC. The first being Cape Verde.