Infrastructure Credit Guarantee Company Limited has announced the successful closing of a US$25 million equity investment from Africa Finance Corporation (AFC).

In this primary transaction, AFC has become a shareholder in InfraCredit alongside the Nigeria Sovereign Investment Authority (NSIA).

InfraCredit is a specialised infrastructure credit enhancement facility established in 2017 by the NSIA in collaboration with GuarantCo (a member of the Private Infrastructure Development Group) to provide guarantees that enhance the credit quality of local-currency debt instruments issued to finance eligible infrastructure projects in Nigeria.

The company maintains a ‘AAA’ long-term national scale credit rating from Agusto & Co and GCR.