AFC Secures $300mln Financing for Burkina Faso’s Largest Power Plant

July 9, 2026
By Mintesinot Nigussie

Africa Finance Corporation (AFC) has reached financial close on a US$300 million financing facility to support construction of Burkina Faso’s largest power plant, a project expected to significantly reduce the country’s dependence on imported electricity.

AFC has disbursed the first US$60 million tranche of a corporate loan facility for the 119MW thermal power plant being developed by Aksa Enerji Üretim A.Ş., Türkiye’s largest publicly listed power generation company.

The project is expected to begin operations in 2027 and will more than halve Burkina Faso’s reliance on imported electricity. The country currently imports about 60 percent of its power supply, limiting energy reliability and increasing costs for households, businesses and industries.

With a population of about 24 million people, Burkina Faso has one of the lowest electricity access rates globally, with only around one in five people connected to electricity. The new facility is expected to strengthen domestic generation capacity, improve power reliability and support industrial activity.

The investment marks AFC’s first project in Burkina Faso and forms part of its strategy to expand infrastructure financing across Africa, particularly in energy systems that support economic growth and industrial development.

The financing builds on AFC’s US$150 million corporate loan facility provided to Aksa Enerji in 2025 to support utility-scale gas-to-power projects in Senegal and Ghana. The projects included a 255MW combined-cycle gas power plant in Senegal designed to use domestic natural gas and provide more reliable electricity supply.

Samaila Zubairu, President and Chief Executive Officer of AFC, said reliable electricity infrastructure was essential for Africa’s industrialisation and economic competitiveness.

“Without dependable power, countries cannot industrialise, businesses cannot grow and communities cannot realise their full economic potential,” Zubairu said.

Cemil Kazanci, Chairman of Aksa Energy, said the Burkina Faso project represented a milestone in the company’s long-term commitment to Africa’s energy sector.

The project is expected to strengthen Burkina Faso’s energy security, attract private sector investment and provide a foundation for expanding economic activity through improved access to reliable electricity.

Source: FSX Business News