Nairametrics| Africa Finance Corporation (AFC), released its 2016 fiscal year results showing a net profit of $109.4 million up 51% year on year. See highlights below;
- US$115.3 million in Total Comprehensive Income, up 64% year-on-year
- US$109.4 million in Net Profit, up 51% year-on-year
- US$3.4 billion in Total Assets, up 13% year-on-year
- US1.4 billion in Total Equity, up 6% year-on-year
- US$192.8 million in Interest Income, up 21% year-on-year
- US$21.9 million in Fees, Commissions and other Income, up 121% year-on-year
AFC also issued the following as key milestones achieved during the period
- US$688 million of new investments
- Growth in the balance sheet to US$3.4 billion
- Expansion of the Corporations’ operational footprint to 28 countries and 14 country members with expansion to the Horn of Africa (Djibouti).
- Creation of the African Power Platform Vehicle…
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