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Finnfund Update for Investors
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Dear all,
The holiday season is over, nevertheless, I feel inspired when looking back the past six months: 17 new investment decisions and 12 new investment agreements, a new statement on climate and energy, and a new global commitment to raise a further USD 15 billion for gender-smart investments. And so forth.
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Despite the challenges caused by the COVID-19 crisis, the Finnfund team is working with a high level of enthusiasm and delivering excellent results.
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- The first half of the year 2021 was very active. Finnfund made 17 new investment decisions, worth 155 million euros.
- Our portfolio grew by 14 million euros compared to the situation at the end of the year 2020, 2.3%, reaching 622 million euros.
- The net financial income remained at the same level compared to H1/2020 (EUR 7.2 million vs. EUR 7.5 million).
- The profit was -3.8 million euros (EUR -17.9 million). The main reason for the negative result is nonlinear revenues from the funds as well the sale gains from equity investments.
The outlook for the financial year 2021 remains to be difficult. Although the beginning of the year was good, we want to be realistic; the origination of new investments will be increasingly challenging because of the global pandemic.
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Finally, as we value our stakeholder’s feedback high, we will conduct a stakeholder survey during Q3. Should you be among the respondents, please feel free to share your thoughts with us! In addition, please remember that you can always reach out to us both directly or via our website.
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Olli Sinnemaa
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P.S. We wish you find this quarterly newsletter useful. Should you wish to receive this newsletter in the future but have not yet joined our subscribers, please click the button below. You can unsubscribe at any time.
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Investment decisions and disbursements in Q2/2021
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Figures & highlights from the last year are now available.
Check our Annual Review 2020.
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Finnfund’s investment in digital connectivity increases access to internet in East, Central and Southern Africa
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Finnfund provides a senior loan of USD 12 million to Bandwidth and Cloud Services Group (BCS), a telecom infrastructure provider operating in several African countries. With Finnfund’s help as a key project investor, BCS is expanding its operations in East, Central and Southern Africa. Read more
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New statement on climate and energy will guide Finnfund’s climate actions
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Finnfund has adopted a new statement on climate and energy. With this statement, Finnfund expresses its commitment to the objectives of the Paris Agreement and explains what this commitment means in practice for its portfolio management, investment process and measuring of the portfolio’s carbon footprint. Read more
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Nordic Impact Cooperation makes its first investment in Vietnam
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Nordic Impact Cooperation AS, owned by Finnfund and Norsk Solar AS, has made its first investment decision into a Norsk Solar-developed solar PV-project in Vietnam. Read more
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FRESCOS Tool launched for accounting the carbon sequestration in forestry projects
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Finnfund, together with three European development finance institutions and Simosol, launched the FRESCOS Tool, a web-based, open-access tool to account for the carbon sequestration of afforestation and reforestation projects. Read more
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OP Finnfund Global Impact Fund I invests in EthioChicken, a forerunner in African poultry farming
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The first global emerging markets impact fund in Finland, invests USD 5 million in EthioChicken, an Ethiopian poultry company. The aim is to generate good jobs, improve food security and reduce poverty. Read more
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Unna Lehtipuu has been appointed Communications Director at Finnfund
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The Communications Director is responsible for Finnfund’s internal and external communications as well as stakeholder relations and influencer communications.
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"The role of impact investing has become more and more clear in solving the global challenges. Finnfund with its partners already has a significant global role in the field," said Unna Lehtipuu. Read more
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2X Challenge sets ambitious new $15 billion fundraising goal
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Global gender finance initiative sets ambitious new USD 15 billion fundraising goal after securing more than double its original USD 3 billion target. Read more
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2XCollaborative convenes the entire spectrum of investors to promote gender lens investing
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Finnfund has joined as a founding member the new membership-based 2XCollaborative, that aims to expand gender lens investing practices to a wider group of commercial investors. Read more
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Responsible tax principles – our work in practice
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ARTICLE – “We want to pioneer and promote responsible tax practices and engage in discussion on the topic. This is an important part of our principles of responsibility and work as a development financier. In order to achieve results, we must identify and select the right places and means to impact the world through our investments,” says Veera Mäenpää, Legal Counsel at Finnfund.
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Capturing adaptation opportunities
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BLOG – “Private sector approaches to adaptation should not only be about risk management but capturing opportunities. Capturing the upside of adaptation can both boost resilience and mobilise private sector expertise and finance for adaptation activities." How to do it in practice?
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Did you know... Digital infrastructure and solutions is our new key sector
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Finnfund has introduced its fifth focus sector: digital Infrastructure and solutions. We invest in profitable and high impact businesses within the emerging markets digital value chain, focusing on rural connectivity, access to data and digital solutions that increase productivity and improve access to products and services. Read more
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Finnfund is a Finnish development financier and professional impact investor. We build a sustainable world by investing in responsible and profitable businesses in developing countries. Each year we invest 200–250 million euros in 20-30 projects, emphasising renewable energy, sustainable forestry, sustainable agriculture and financial institutions. Today Finnfund’s investments and commitments total about 1,07 billion euros, half of them in Africa. The company has about 90 employees. For more information, please visit www.finnfund.fi
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