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Tuesday, September 6, 2022

Republic of Tunisia Becomes Africa Finance Corporation’s 34th Member State

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TUNIS, Tunisia–(BUSINESS WIRE)–The Africa Finance Company (“AFC”) has welcomed Tunisia as its 34th member state. Tunisia’s accession brings the whole variety of North African member states of the AFC to a few, with Morocco and Egypt changing into members in 2021, deepening the infrastructure supplier’s engagement with an important gateway to Africa. Tunisia’s strategic geographic place means it is a crucial transit route for pure gasoline exports from Africa to Europe.

AFC has been invested in Tunisia for a while to allow the nation to develop its key financial sectors and help the creation of excessive expert jobs. In 2017, AFC invested US$37 million within the growth of the Halk El Menzel offshore oil concession block in Northern Tunisia. The challenge has been particularly essential in offering the power required for transport, set up, begin up and commissioning, first nicely drilling together with acquisition of essential manufacturing installations, floating storage and offloading models, restore, improve of the present buoy, provide of topside amenities and completion of a wellhead platform. Extra not too long ago, AFC signed a Memorandum of Understanding in 2020 with the Tunisia Africa Enterprise Council aimed primarily at opening up AFC financing to Tunisian firms to permit for the event of core infrastructure as a pillar for financial development in Tunisia and the remainder of Africa.

Commenting on Tunisia’s accession, AFC President, and CEO, Samaila Zubairu said: “I’m delighted to welcome the Republic of Tunisia as the most recent member of AFC. As AFC celebrates 15 years of operations, we’re dedicated to broadening our impression because the dependable and resilient bridge to a affluent African future by delivering instrumental infrastructure that will increase productiveness and drives financial development and sustainable growth. We look ahead to supporting Tunisia to unlock its subsequent section of development and job creation”.

Minister of Financial system and Planning, Hon. Samir Saied additionally commented: “The federal government’s present priorities are political stability, financial restoration and diversification, and sustainable development. Vital progress in coverage reforms has been made by the federal government to encourage funding within the nation as we see personal sector funding and help to be pivotal in reaching this purpose. AFC’s monitor document bodes nicely for us as we see the AFC as companions that might work with us to ship on bankable infrastructure initiatives in sectors with excessive development potential and nice growth impression”.

ENDS.

Notes to Editors

About AFC

AFC was established in 2007 to be the catalyst for personal sector-led infrastructure funding throughout Africa. It’s the second highest funding grade rated multilateral monetary establishment in Africa. AFC’s method combines specialist business experience with a give attention to monetary and technical advisory, challenge structuring, challenge growth and threat capital to deal with Africa’s infrastructure growth wants and drive sustainable financial development. AFC invests in high-quality infrastructure property that present important companies within the core infrastructure sectors of energy, pure assets, heavy business, transport, and telecommunications. Up to now, the Company has invested US$10 billion in initiatives in 35 nations throughout Africa. www.africafc.org

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