Nairobi -based Afri Fund Capital has announced an ambitious plan to raise $6 billion (approximately 780 billion Kenyan Shillings) in commercial debt. This funding is specifically designated to complete the Lamu Port-South Sudan-Ethiopia Transport (LAPSSET) Corridor, a regional mega-project long regarded as the key to unlocking the economic potential of the Horn of Africa.
The announcement follows a strategic Memorandum of Understanding (MoU) signed on March 9 between Afri Fund Capital and the Capital Markets Authority (CMA) of Kenya. This partnership aims to move away from direct government borrowing and instead create a regulatory environment conducive to private sector-led financing.
To reach the $6 billion target, Afri Fund Capital is looking far beyond East African borders toward global markets. The company plans to follow a cross-listing strategy, listing the debt on major international stock exchanges including the Nairobi Securities Exchange (NSE), the London Stock Exchange (LSE), and the New York Stock Exchange (NYSE).
