Africa Finance Corp prospects Emirati sovereign fund

摘要

The head of financial services at Africa Finance Corp(AFC), Sanjeev Gupta, will chair the first meeting in theUnited Arab Emirates of Invest Africa, a club founded bySouth African businessman Rob Hersov, since thebeginning of the pandemic on 13 July.Gupta, a member of Invest Africa's advisory board, hasbeen campaigning to various Gulf sovereign funds,including the Investment Corporation of Dubai, the AbuDhabi Investment Authority and the EmiratesInvestment Authority. The AFC, which is a pairing of theCentral Bank of Nigeria and various private Nigerian banks, has decided to target these funds to refill itscoffers. Since the start of the pandemic, which took aheavy toll on its reserves, the AFC has had to put mostof its projects on hold. In April, the Lagos-basedinstitution was forced to take out a $750m eurobond toget its infrastructure projects back up and running.