ABUJA – Nigeria is planning to launch a fund with an initial capital of US$1 billion drawn from the public and private sectors to help home-grown companies invest, the central bank governor was quoted as saying yesterday.
Chukwuma Soludo said the central bank had launched a private placement to raise funds for the proposed African Finance Corporation (AFC) and Nigerian banks had already committed US$700 million, according to Nigerian newspapers. Bankers presented the AFC as a commercially driven public-private partnership aimed at reducing poverty through credit for companies to invest in infrastructure and development projects.Nampa-ReutersBankers presented the AFC as a commercially driven public-private partnership aimed at reducing poverty through credit for companies to invest in infrastructure and development projects.Nampa-Reuters
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