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11 posts found.

Selected Category: Africa

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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Why sustainable forestry is good business? Chris Burchmore from FSC® Africa explains

“Sustainable forestry is good business. It shows, for instance, as better planning of operations, financial management, cooperation with local people – and at the end of the day, as better products, too,” says Chris Burchmore, Director of FSC Africa. Deforestation and degradation of forests is a global challenge. According to FAO, Food and Agriculture Organization of […]

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Finnfund to provide an additional senior loan facility to Mobisol

Finnfund has provided an additional substantial senior loan facility to Mobisol, following an already provided senior loan in 2016 to Mobisol’s operations in Tanzania, Rwanda and Kenya. This additional funding, granted up to 10 million euros, will support Mobisol’s fast expansion in East Africa, where the company installed nearly 10 megawatts of capacity in those […]

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Solar brings electric light to Mary’s family

Mobisol sells individual solar systems to rural African households beyond the grid, paid for in low monthly instalments using mobile money. A secured loan from Finnfund is supporting the company’s growth in Africa. The aim is to raise living standards and increase the use of renewable energy. An old gutted Toyota Hiace van sits in […]

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Fuzu matches workers with jobs

It is hard to find a job in Nairobi. Even good qualifications do not open all the doors. The competition is ruthless. There is no shortage of applicants and the number swells by a million each year. Nairobi, full of smart young university graduates, may be Africa’s toughest job market. Sylvia Biwott and Gregory Oyolo are […]

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Finnfund to invest in Ethiopian poultry company – aiming to improve food security and living standards

By producing chicks which will provide eggs and poultry meat, EthioChicken supports families to improve their nutrition and livelihood, particularly in rural areas. Finnfund begins to finance EthioChicken, which aims to improve food security and reduce poverty in Ethiopia. By producing chicks which will provide eggs and poultry meat, the company supports families to improve their […]

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