African Lender Eyes Unloved Neighborhoods in Mining Drive
- AFC aims to double mining assets in Africa in short term
- Sees gold and battery metals weathering commodities downturn
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African Finance Corp. will invest in countries disregarded by other companies as part of a plan to double its exposure to the mining industry, the firm’s head of investments said.
The Nigeria-based development-finance firm is mulling mining and refining opportunities in Mali, Burkina Faso, Gabon and the Democratic Republic of Congo. The sector remains attractive despite the U.S.-China trade dispute dragging down global commodity prices, Senior Vice President of Investments Begna Gebreyes said.