The African Finance Association, a company that provides infrastructure solutions on the continent, said that Somalia has become one of its members, joining Benin, Botswana and Congo as new members of this company.
The African Finance Association (AFC), said the accession of Botswana and Somalia to membership enhances the mandate of the AFC by providing diplomatic integrity and immunity in line with the multilateral status of the organization.
“It enables the AFC to mobilize international capital to work with domestic finance to achieve substantial sustainable infrastructure and industrial development in member countries. The AFC currently enjoys the support of one-third of its members from African countries, with a total of 40 independent members,” the association said in a statement.
Dr. Elmi M. Nur, Somalia’s Minister of Finance, said: “As Somalia continues to rebuild and grow, our membership of the African Financial Union will play an important role in securing the financial support needed to develop our nation,” said the minister.
The African Finance Association is an African Multilateral Development Finance Institution established in 2007. It was created by independent African governments to provide real solutions to Africa’s infrastructure development and challenging work environment.
