The Africa Finance Corporation (AFC) is making a landmark move. In April 2026, the pan-African financial institution officially opened its first regional office in Nairobi, in the presence of Kenyan President William Ruto and Prime Minister Musalia Mudavadi. The strategic signal is clear: the AFC is targeting an additional $2 billion in East African investments over the next three to five years.
Nairobi: East Africa's New Financial Gravity Centre
The AFC, which already manages a substantial continental portfolio, chose Nairobi for its first regional hub given the city's established role as East Africa's financial and logistics capital. The East African Community brings together more than 400 million people and is growing at roughly 6% annually — one of the fastest-expanding economic blocs in the world.
Kenya itself is recording 5.3% growth in 2026, driven by services, technology and its regional transit position. The AFC has already committed $1.3 billion to Kenya since 2017, and this new office is designed to accelerate that pace.
Four Priority Sectors
The AFC's East Africa deployment strategy focuses on four key areas: regional logistics corridors, energy (with emphasis on renewables), special economic zones, and digital infrastructure. Flagship projects already underway include the Dongo Kundu Integrated Industrial Park and the Naivasha II Special Economic Zone, developed in partnership with Arise IIP.
Local Currency Financing
A distinctive feature of the new strategy: the AFC intends to offer more financing solutions denominated in local currencies. This approach aims to reduce foreign exchange risk for African project developers — a persistent barrier to infrastructure financing across the continent. AFC CEO Samaila Zubairu signed the founding agreement for the office in the presence of Kenya's two most senior government officials, underscoring the strong political backing for this move.
Why It Matters
AFC's Nairobi foothold is part of a broader continental trend: major African financial institutions are repatriating decision-making centres to Africa, reducing dependence on external capital. For East Africa — and by extension for the Indian Ocean region, where Kenya is a key trading partner — accelerated infrastructure financing is a direct lever for regional competitiveness. Two billion dollars directed at infrastructure, energy and special economic zones has the potential to fundamentally reshape the region's commercial corridors.
Source: Africa Finance Corporation (official press release, April 2026), African Business, Zawya.