The Africa Finance Corporation (AFC) plans to raise and invest over KSh258 billion ($2 billion) in target segments of the economy in the East Africa region by 2028 to unlock the area's industrial potential.

While announcing the opening of AFC’s Nairobi hub, the organization said its financing will be strategically channeled to "sectors with strong multiplier effects" to the economy such as logistics and energy.

Other high target sectors will be investments in special economic zones, digital infrastructure and projects that foster resilience amid the wrath of climate change.

The financier noted that its Nairobi office will be critical in raising capital optimally structured to align with local currency solutions. Additionally, it will utilize transaction frameworks that improve bankability and crowd in institutional capital.

The Regional Office will serve as a full-service platform—originating, structuring and executing transactions—while deepening portfolio optimization via partnerships with governments, institutional investors and private operators, AFC explained in a statement.

AFC Presence in Kenya

Since Kenya joined AFC in 2017, the Corporation has committed over KSh 168 billion ($1.3 billion) on energy, transport and industrial projects across East Africa's largest economy.

Some of the projects where AFC has its footprint include development of the Dongo Kundu Integrated Industrial Park and Naivasha Special Economic Zone II in partnership with Arise Integrated Industrial Platforms. AFC is also a part of the ongoing support for the expansion of Jomo Kenyatta International Airport.

"We are reinforcing Kenya’s position at the forefront of infrastructure and industrial transformation in Africa. AFC’s presence in Nairobi will help create jobs and strengthen our capacity to deliver transformative projects aligned with Kenya’s Vision 2030," noted President William Ruto during The Africa We Build Summit in Nairobi.

Samaila Zubairu, President and CEO of AFC, said: “Nairobi’s position as a logistics, finance and technology hub makes it a natural anchor for AFC’s East African operations. Establishing a Regional Office in Nairobi allows us to originate faster, structure more effectively, and deploy capital at scale across interconnected markets. Our focus is on building investable infrastructure platforms that unlock regional trade, industrial capacity and long-term economic growth.”

East Africa: A focal point for industrialization

AFC's push into East Africa comes at the same time when Africa's largest bank by assets, the Standard Bank Group, has said the region is becoming a focal point for industrialization due to its strategic geography, dynamic economies, and growing role in regional integration. 

In an update in January, Standard Bank Group CEO Sim Tshabalala said East Africa's new phase of growth will be anchored by fast‑growing markets in Kenya, Tanzania, Ethiopia, Uganda, and Rwanda.

The lender said East Africa has evolved into a hub for infrastructure investment, innovation, and cross‑border trade, attributable to its strategic access to the Indian Ocean that offer a critical link between Africa and the Middle East, South Asia, and Indo‑Pacific economies.

 Additionally, the bank observed that East Africa’s human capital and hard and soft infrastructure make it very well placed to be a global hub for advanced IT investment and innovation.

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