78 posts found.
Selected Category: Africa
Finnfund invests in an energy tech company that helps Africa’s power sector distribute electricity more efficiently
Africa’s power grids face significant challenges, with utilities struggling to provide consistent service due to outdated infrastructure and unreliable data. Finnfund invests in Beacon Power Services (BPS), an energy tech company that provides data-driven solutions that are based on for example AI-enabled digital mapping. One of the main products offers real-time grid monitoring and control, […]
Read moreNovember 11, 2024
OP Finnfund Global Impact Fund I invests in TerraPay to boost access to international remittances in Africa
OP Finnfund Global Impact Fund I, the first Finnish global emerging markets impact fund, invests in TerraPay to boost access to affordable remittances and support livelihoods and business activity in countries across Africa. The investment is part of a 75 million US dollar financing package that includes a 30 million US dollar loan from IFC, […]
Read moreAugust 14, 2024
Finnfund invests in CREI to improve mobile connections in South Sudan
South Sudan has one of the lowest rates of mobile access and connectivity in the world. Finnfund provides a 5 million US dollar mezzanine loan to Communication & Renewable Energy Infrastructure (CREI) in order to facilitate installing, operating and maintaining 413 telecom site hybrid power solutions in South Sudan. The project will contribute to a […]
Read moreJune 28, 2024
Phatisa and Finnfund announce exit from integrated organic sustainable palm oil producer, Planting Naturals, following acquisition by Dutch Dekker Group affiliate
Phatisa and Finnfund successfully exit their stake in Planting Naturals, a transformative brownfield investment, started in 2011, to rebuild a war-damaged palm oil mill in Sierra Leone. Planting Naturals has since grown into a leading global producer of organic and RSPO-certified palm oil, and is now being acquired by PaLenDu, an affiliate of the Dutch […]
Read moreJune 19, 2024
Minister Ville Tavio visits Kentegra’s state-of-the-art pyrethrum processing plant in Naivasha, Kenya
Finland’s Minister for Foreign Trade and Development Ville Tavio, accompanied by Finnish development financier and impact investor Finnfund, was one of the first visitors at Kentegra Biotechnology’s cutting-edge pyrethrum processing facility in Naivasha, Kenya. The visit underscores the strong collaboration between the Finnish government, Finnfund, and Kentegra in revitalizing Kenya’s pyrethrum industry. Kentegra Biotechnology Holdings […]
Read moreJune 17, 2024
Investors support Hewatele in its efforts to bring affordable medical liquid oxygen to healthcare facilities in East Africa
Hewatele, a medical oxygen producer in Kenya, has secured a 20 million USD funding package from Finnfund, DFC (the U.S. International Development Finance Corporation), SEDF (Soros Economic Development Fund), UBS Optimus Foundation and Grand Challenges Canada. Hewatele will use the debt and equity funds raised to finance the building of a liquid oxygen(LOX) manufacturing facility […]
Read moreFebruary 14, 2024
Ivory Coast’s successful Eurobond issuance raises hopes for easing Africa’s funding squeeze
For almost two years, the Sub-Saharan African economies have not received financing from international bond markets. Last week, there was a positive turn, as Ivory Coast successfully issued two Eurobonds. This raises hopes that the financing and debt crisis in Sub-Saharan Africa will begin to ease. The Covid-19 pandemic, the political uncertainty caused by the […]
Read moreFebruary 1, 2024
How investing in digital infrastructure and solutions helps reduce the gender gap
Finnfund’s Digital Infrastructure and Solutions team was established only a couple of years ago, but we have a great spirit of getting things done and we have achieved a lot already during our first years of operation. We have identified three needs or issues that our investments seek to solve: 1) access to basic mobile […]
Read moreNovember 29, 2023
Finnfund’s investment bridges the digital divide in South Africa with help of technology from Nokia
Approximately 80 % of homes in South Africa remain unserved by fast and affordable broadband internet. Fiber access is expensive and limited to affluent suburbs, perpetuating the digital divide. Moreover, micropayments are prohibitively expensive due to high bank transaction fees leading to a cash-based mindset. Finnfund has decided to invest 2 million euros in the […]
Read moreNovember 16, 2023
EU and Finnfund launch the Africa Connected Programme to mobilise more than €1 billion for Sub-Saharan Africa’s digital infrastructure
At the Global Gateway Forum, European Commissioner for International Partnerships, Jutta Urpilainen, and Finnfund CEO, Jaakko Kangasniemi, have officially signed the Africa Connected Programme, a landmark agreement aimed at mobilizing more than €1 billion in sustainable investments for digital infrastructure and digital service platforms in Sub-Saharan Africa. Finnfund becomes a first-time implementing partner of EFSD+ […]
Read moreOctober 26, 2023