Africa Finance Corporation (AFC), one of the continent’s leading infrastructure finance institutions, has successfully closed the ground-breaking dual currency Samurai Tam Loan Scheme worth US$524 million, marking the largest Samurai Loan transaction to date. The three-year syndicated financing consists of USD 505 million and JPY 3 billion, reflecting the strong confidence of Japanese financial institutions and the deepening financial partnership between Africa and Asia.
The facility is significantly oversubscribed, demonstrating strong market demand and increasing recognition of AFC’s creditworthiness, operational resilience and investment strategy focused on closing Africa’s infrastructure financing gap.
This milestone builds on AFC’s strategic momentum in the Japanese capital markets, following significant achievements such as:
First Samurai Loan conducted in 2019
Succeeded in guaranteeing Egypt’s 75 billion yen samurai bond in 2023
Full repayment of the equivalent of USD 419 million for the Samurai facility in 2022
Obtained A+ (stable) credit rating from Japan Credit Rating Agency (JCR) in early 2025
AFC’s involvement in Asia continues to accelerate, with AFC raising more than US$1.3 billion across Asian markets including China, India and South Korea over the past decade.
Commenting on the development, Banji Fehintola, Director and Head of Financial Services at AFC, said:
“Japan remains a strategic market for AFC. The strong support from Japanese financial institutions in this latest Samurai loan confirms their growing confidence in AFC’s mission and track record. The success of this transaction further strengthens our capital base and strengthens our access to diversified global financing as we continue to accelerate infrastructure-led development across Africa.”
The latest financing was arranged by long-standing Asian banking partners Mizuho Bank, Mitsubishi UFJ Bank and SMBC Bank International, who acted as the mandated lead arrangers and bookrunners. The deal received strong investor momentum following AFC’s lender engagement during the Tokyo International Conference on African Development (TICAD 9) in August.
The facility also marks a significant milestone in the diversification of AFC’s lender base, with the participation of several first-time Asian financial institutions, including:
Proceeds from this loan will be earmarked for general corporate purposes, enabling AFC to further its mission of developing critical infrastructure in areas such as transportation, digital infrastructure, renewable energy, logistics and industrial growth across Africa.
The transaction not only strengthens the AFC’s liquidity position, but also reinforces Japan’s growing role in development financing for Africa and signals a new phase in cross-border capital flows and cooperation.
