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Finnfund Update for Investors
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Dear all,
The COVID-19 pandemic and the challenges in the global economy are not over yet. However, I am happy to see that at Finnfund we have been able to navigate through these challenging times.
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In Q3, our activities remained at high level. Since the beginning of the year 2021, we have made 22 new investment decisions, worth 189 million euros. We have highlighted some of the latest ones below – as well as news from COP26.
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In this blog post, I discuss Finnfund’s financial results for Q3 in more detail, but you may find some of the key points below:
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- Our portfolio has grown by 42 million euros compared to the situation at the end of the year 2020, 6.9%, reaching 650 million euros.
- Interest income increased by 3% compared to Q3/2020 (EUR 16.1 million in Q3/2021 vs. EUR 15.6 million in Q3/2020). The net interest income increased 18% from the previous year, reaching 12.9 million euros (vs. EUR 10.9 million).
- Net financial income increased by 17% compared to Q3/2020 (EUR 12.5 million vs. EUR 10.7 million).
- The profit before reduction in value of investments and sales gains and losses was 2.9 million euros (vs. EUR 2.7 million).
The outlook for the financial year 2021 end remains challenging. Although the activity level has been high and many parts of the world are opening from lockdowns, the economic situation and timeline for recovery remain unclear in many developing countries. For us as a development financier, this means that our contribution is strongly needed. We at Finnfund strive to stay at the frontline of the global effort to build back better.
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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 1-9/2021
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Interested to know how we did in 2020?
Check our Annual Report.
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Finnfund and University of Helsinki to invest together into microfinancing in Africa and Asia
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Finnfund invests in the Advans Group, one of the leading international microfinance group, aiming to generate funding for micro and small businesses and promote responsible business practices and gender equality within microfinancing. University of Helsinki participates in this investment with Finnfund. Read more
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OP Finnfund Global Impact Fund I invests in CIM Santé Group
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The first Finnish global emerging markets impact fund has invested USD 10 million in equity in CIM Santé Group, a leading Moroccan private healthcare group.
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COP26: Finnfund joins the Adaptation & Resilience Investors Collaborative
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The members of the collaboration are committed to accelerate investments in climate adaptation and resilience to support vulnerable developing and emerging countries. Read more
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COP26: New partnership to scale and transform the sustainable forestry sector in sub-Saharan Africa
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Finnfund proposes innovative partnership with fellow-financiers with an ambition to raise $500m for sustainable forestry across sub-Saharan Africa. Read more
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COP26: Finnfund to become one of the founding members of the Forest Investor Club
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The Forest Investor Club, launched by the US at COP26, is a network of leading public and private financial institutions and other investors aiming to unlock and scale up investments that support sustainable, climate-aligned outcomes in the land sector.
Read more
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OP Finnfund Global Impact Fund I invests in Sathapana Bank to accelerate SME growth and women empowerment
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The first global emerging markets impact fund in Finland invests USD 10 million in Sathapana Bank, one of Cambodia’s largest banks, aiming to accelerate the development of small and medium-sized enterprises (SMEs) and women empowerment.
Read more
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Finnfund reviews the implementation of its Human Rights Statement
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At the beginning of 2019, Finnfund introduced a Human Rights Statement to guide our work in respecting and promoting human rights in all our operations. Finnfund is now reviewing the current state of implementation of the statement. Read more
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Electric mobility is a question of health and it needs investments to develop
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BLOG – “The e-mobility sector is hotter than hot now, and the development is both rapid and fascinating. Anywhere you look in the world, it’s still quite new and definitely in a development phase. No one knows what’s going to happen during the next five years,” writes Helena Teppana, Associate Director at Finnfund.
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Discovering outcomes in gender-lens investing
BLOG – "Gender-lens investing has quickly become a priority for many development finance institutions (DFIs). The 2X Challenge initiative has resulted in increased DFI investment in women. Importantly, the 2X Challenge has also defined what constitutes a gender-smart investment. (....)
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While this is all vital in building the foundation for assessing an investment’s gender potential, the next obvious step is to start looking beyond the numbers to better capture the impact of companies on women. This will not only help companies to adjust their products or programmes to better answer the needs of women, but importantly, switches focus from observing numbers to actually listening to what women have to say," writes Juho Uusihakala (Finnfund), Ilona Mooney (Work Ahead) and Nilah Mitchell (60Decibels).
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Did you know... A majority of our investments is located in Africa
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For several years, most of our investments have been located in the African continent. For example, in 2020, Africa continued to be Finnfund’s primary investment destination with 56% of volume and 58% of decisions. Asia comes in second with a third of investments. 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 1.070 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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