Ghana to join African Finance Corporation.

By bne IntelliNews December 2, 2010
Ghana's Parliament has given the country's government an approval to join and subscribe to shares in the African Finance Corporation (AFC), GhanaWeb portal reported. Under the approval, the government of Ghana will release an amount of USD 50mn, which will be divided into 50mn shares to enable the country to have a seat on the board. AFC, which was launched in 2007, is a financial institution whose mission is to improve African economies by proactively creating, developing and financing infrastructure, industrial and financial assets. Its current member states are Nigeria, Guinea-Bissau, Gambia, Sierra-Leone and Liberia. By the end of 2009, AFC registered USD 200mn in approved transactions across various sectors and asset classes.

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