Africa Finance Corporation (AFC), the pan-African infrastructure financier, has closed a $524mn-equivalent dual-currency Samurai term-loan facility, marking its largest such transaction to date and underscoring growing Japanese appetite for African credit.

The three-year syndicated loan, comprising $505mn and JPY3bn, was significantly oversubscribed following strong demand from Japanese banks. AFC said the outcome reflected rising investor confidence in its credit fundamentals and long-term strategy.

AFC has expanded its presence in Japan’s capital markets in recent years. Milestones include its 2019 debut Samurai loan, a guarantee for Egypt’s JPY75bn Samurai bond in 2023, and its A+ (Stable) rating from the Japan Credit Rating Agency earlier this year. Its previous Samurai facility, a $419mn-equivalent loan raised in 2022, matured in October 2025 and was fully repaid.

The Corporation has raised more than $1.3bn from Asian lenders over the past decade, including facilities arranged in China, India and South Korea, as it diversifies funding sources to support infrastructure development across Africa.

Executive board member and head of financial services, Banji Fehintola, said the level of support from Japanese lenders reflected sustained trust in AFC and strengthened its funding position.

Mizuho Bank, MUFG Bank and SMBC Bank International acted as mandated lead arrangers and bookrunners. Several institutions participated as lenders for the first time, including Bank of Taiwan, China Construction Bank, First Commercial Bank, Taiwan Business Bank, Chiba Bank, Shizuoka Bank and Yamanashi Chuo Bank.

AFC said proceeds from the new Samurai facility will be used for general corporate purposes as it continues financing energy, transport, logistics and industrial projects across member states. AFC is a multilateral institution headquartered in Lagos and owned by African sovereigns, providing debt and equity financing for infrastructure and natural-resources projects.