Nairobi is set to host a regional office of the Africa Finance Corporation (AFC), adding to Kenya’s effort to attract institutions that finance major projects across the region.
The decision emerged during President William Ruto’s New York engagements with AFC chief executive Samaila Zubairu and Dangote Industries president Aliko Dangote. Their discussions also covered financing for the proposed East Africa refinery in Lamu.
An AFC regional presence could bring project financing discussions closer to businesses and governments in East and Central Africa. It is a distinct institutional outcome of the UNGA week.
The President paid a visit to the Nigerian facility ahead of the groundbreaking in Kenya on Tuesday.