GENERAL OVERVIEW

Established in March 1975 by the Heads of State of the member countries at a summit in Bangui, Central African Republic, the ASF became operational in September 1979. It is based in Niamey in the Republic of Niger. The purpose of the Fund is to contribute to the economic and social development of its regional Member States.

The Fund's main intervention tool is the guarantee of bank loans and bond issues intended to fund financially and economically profitable industrial, agricultural, commercial, infrastructure and service operations or projects under implementation or to be carried out in the regional Member States for the benefit of:

The said Regional Member states;

State and parastatal agencies;

African inter-state organizations that involve one or more Regional Member States;

Private companies having their headquarters or main field of activity in one or more regional Member States.

MISSION

The ASF's mission is to contribute to the economic development and social progress of its African Member States by facilitating, through its intervention tools, access to the financial resources needed to implement investment projects and other income-generating activities.

VISION

The ASF’s vision is "to become a strong and innovative pan-African institution at the service of the structural transformation of the economies of Member States".

CAPITAL & SHAREHOLDERS

The authorised capital of the Fund consists of callable capital and unpaid callable capital.

The callable capital represents the portion of the authorised capital, subscribed or available for subscription by members, called by the Governing Council and paid up or to be paid up by the Shareholders, within the time limits set by the said Governing Council.

The unpaid callable capital is that portion of the authorised capital which may be called up only in special circumstances, in particular in the event of the Fund having difficulties in fulfilling its commitments. It therefore constitutes a form of guarantee from the shareholders. It shall be determined and paid up in accordance with the conditions, time limits and procedures laid down by decision of the Governing Council.

The Governing Council also determines the amount of capital to be subscribed by the new member, as well as the terms and conditions of payment.

The portions of the capital held by the Shareholders are divided into two classes of shares according to the categories of members:

Class "A" Shareholders or African Member States; and
Class "B" Shareholders or non-African Member States or Institutions.

Class "A" Shareholders hold at least fifty-one percent (51%) of the callable capital of the Fund.

Class "B" Shareholders hold a maximum of forty-nine per cent (49%) of the callable capital of the Fund.

The 51% and 49% split of the callable capital must be maintained at all times. Any provision, measure or decision having the effect of modifying this distribution shall be deemed null and void.