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16 posts found.

Selected Category: Africa

Finnish investment helps close the education gap in Africa

Finnish development financier Finnfund is investing 7 million US dollars in Maarifa Education Group, a private tertiary education company operating in Sub-Saharan Africa. Maarifa Education offers high quality programmes in labour market relevant studies of medicine, business, IT, law, and social-sciences, complementing public universities which can educate only a third of all applicants. Despite the […]

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Finnfund finances energy efficient solar power solutions in Nigeria’s banking sector

Finnish development financier Finnfund has signed a pioneering 5 million US dollar long-term senior debt financing to Starsight Power Utility Limited group. Starsight offers solar-diesel-battery hybrid generation and efficient cooling and lighting solutions to commercial and industrial clients throughout Nigeria. Starsight’s solution will cut the customer’s use of fossil fuels by up to 70% thanks […]

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The bank-in-phone wasn’t a joke after all

Many things changed when two Ethiopian friends opened their first bank accounts. It is evening in the Ethiopian capital Addis Ababa. Horse entrepreneur Eyob Lema carries in his pocket a 100 birr banknote, his earnings for the day. The sum equals to about three euros. Thirty-year-old Eyob Lema is a typical Ethiopian in the sense […]

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Seminar: Sustainable development and climate action from African forests

How are the forests in Africa doing? What are the most cost-effective climate actions and can deforestation be slowed down? Is there demand for sustainably produced wood? Why is it so difficult to get private funding? What could the EU do? Forests, food production and climate change are closely linked to one another, professor Markku […]

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Finnfund invests in sustainable avocado farming in Tanzania

Finnfund, a Finnish development finance company, provides a EUR 2.5 million secured loan to Africado, a Tanzanian avocado producer. Sustainable avocado farming is a viable alternative for Tanzania’s Kilimanjaro region farmers whose livelihoods have been shaken by the plunging price of coffee. The price of coffee has fallen sharply in recent years primarily due to […]

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Wind power replaces imported oil in Cape Verde

Cabeólica wind farms in the West African island state Cape Verde cover more than 14% of the country’s current energy demand. Besides the obvious climate impact, the wind farm has generated economic growth, jobs and improved income for the benefit of Cape Verdeans. In spring 2018, Finnfund commissioned an external evaluation of the project’s impact. […]

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New forestry fund projected to sequester 20 million metric tons of CO2

Finnish development financier Finnfund has committed 10 million USD to a new impact fund for sustainable forestry, the Arbaro Fund (Arbaro). Arbaro is projected to sequester over 20 million metric tons of CO2 in its lifetime and create more than 5,000 jobs in remote areas. Arbaro aims to invest in and actively manage a well-diversified […]

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Finnfund provides funding to Access Bank to support Nigerian agribusiness

Finnfund, a Finnish development finance company, provides a loan of USD 12 to Nigerian Access Bank, aiming to support the development of Nigeria’s agricultural sector, increase productivity and reduce dependence on import of agricultural and food products. The funding will be used to support private business involved in agricultural production, processing and distribution. Agriculture remains […]

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Finnfund to invest with an IFC-led consortium to support the world’s largest solar park in Egypt

Finnfund, a Finnish development finance company, participates in financing the construction of 13 solar power plants in southern Egypt, near the city of Aswan. The plants will be part of the larger Benban Solar Park, which, once complete, will be the largest solar installation in the world. Finnfund’s investment amounts to a total of USD […]

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Finnfund invests in financial services technology platform Jumo

Finnfund, a Finnish development finance company, has made an investment in Jumo, a financial services platform providing mobile financial services in emerging markets. JUMO is a multi-sided platform for Mobile Network Operators and Financial Service Providers.  To date, JUMO has served over 5 million people in Africa and Asia using behavioural data from mobile usage. […]

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