Bank of Tanzania becomes Equity Shareholder in Africa Finance Corporation, boosting sovereign backing and ownership diversity

By Oke Peter 

Dar es Salaam, Tanzania – Africa Finance Corporation (AFC), a leading provider of infrastructure solutions across the continent, has announced that the Bank of Tanzania (BOT) has acquired an equity stake in the institution. This move makes BOT a sovereign shareholder and further strengthens AFC’s capital base while broadening its pan-African ownership structure.

The development signals increasing confidence from African governments in AFC’s mission to mobilise long-term funding for key infrastructure and industrial projects. It also follows AFC’s recent A (Positive Outlook) rating by S&P Global Ratings, which recognised the Corporation’s solid financial foundation, strong backing from shareholders, and consistent delivery of impactful projects across Africa.

By bringing the Bank of Tanzania on board, AFC advances its strategy to diversify its shareholder base, with greater involvement from African central banks and sovereign institutions. This reinforces its position as a dependable partner for governments aiming to drive economic growth through infrastructure development.

The investment comes at a time when many African economies are seeking increased funding to support industrialisation, energy transition, improved logistics, and value-added manufacturing. AFC’s approach—supported by sovereign partnerships and access to international capital markets—continues to enable the financing of high-impact, viable projects across the continent.

In Tanzania, AFC plans to expand its support through sovereign financing initiatives and collaborations with financial institutions. These include budget support for the Ministry of Finance and Planning, as well as trade finance facilities for local banks to improve liquidity, promote trade, and strengthen private sector activity. The investment further cements AFC’s partnership with Tanzania in promoting economic stability and long-term development.

Speaking on the development, AFC President and CEO, Samaila Zubairu, described the investment as a strong endorsement of the Corporation’s mandate and performance. He noted that the move highlights the importance of African-led institutions in mobilising large-scale, long-term capital for infrastructure and industrial growth.

Zubairu added that BOT’s participation strengthens AFC’s sovereign shareholder base and underscores its role in addressing Africa’s infrastructure gap while promoting sustainable development. He also expressed optimism about expanding AFC’s involvement in Tanzania, particularly in sectors that drive industrialisation, regional integration, and economic resilience.

Governor of the Bank of Tanzania, Emmanuel Tutuba, stated that AFC has consistently demonstrated its ability to mobilise long-term capital for infrastructure and industrial development. He said the investment aligns with Tanzania’s goals of enhancing economic resilience, supporting private sector growth, and advancing sustainable development through strategic partnerships.

With a growing network of shareholders and strong sovereign backing, AFC remains focused on channelling both domestic and international capital into critical infrastructure projects, supporting sustainable economic growth and strengthening Africa’s position in global value chains.