NAIROBI, Kenya, September 4, 2023/ -- Africa Finance Corporation (www.AfricAFC.org), the continent’s leading infrastructure solutions provider, and CPF Financial Services (CPF), a leading provider of innovative financial solutions in Kenya, today announced an agreement to jointly target infrastructure investments within the country.

Signed on the opening morning of the Africa Climate Summit in Nairobi, the agreement commits AFC and CPF Financial Services to collaborate in identifying, developing, and co-financing priority infrastructure projects that are aligned with Kenya's development roadmap, leveraging their combined technical expertise and access to domestic and global capital.

The collaboration aligns AFC, with a track record of generating competitive returns on over US$12.7 billion of investments in transformational infrastructure projects across 36 African countries, with CPF, one of Kenya’s leading institutional investors with more than US$1 billion in assets under management. African institutional investors, including pension funds, insurance companies and asset managers, hold nearly US$1trillion dollars of assets under management, equivalent to a third of the continent’s combined GDP and more than 5 times the annual infrastructure and climate financing needs of the continent.

"African institutional investors are one of the single largest sources of investable capital and will play a catalytic role in bridging Africa’s infrastructure gap,” said Samaila Zubairu, President & CEO of AFC “It is with this immense potential in mind that we are partnering with CPF Financial Services. Our combined expertise and access to capital will accelerate progress towards achieving economic prosperity and job creation for Kenya and, ultimately, the African continent."

AFC is a major development partner in Kenya—a sovereign member since 2017—with cumulative investments of approximately US$400 million in the country to date and a robust in-country pipeline of infrastructure, industrial and trade finance projects valued at over US$750 million.

"We are excited to collaborate with AFC, a recognised leader in the infrastructure sector,” said Hosea Kili Group Managing Director and CEO of CPF Financial Services. “This alliance aligns perfectly with our goals of creating value-driven solutions and supporting Kenya's infrastructure agenda. By working together, we aim to unlock new opportunities and facilitate sustainable economic growth."