Skip to content

73 posts found.

Selected Category: Africa

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 more

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 more

How investing in digital infrastructure and solutions helps reduce the gender gap

Elina Happonen

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 more

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 more

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 more

The global economy has shown remarkable resilience, but low-income countries are suffering from the scars of recent shocks

The global economy has undergone unusual crises and volatility over the past years. According to the IMF’s just-released outlook, the global economy has shown resilience and continues to grow but at a slowing pace. The recent slowdown is more pronounced in advanced economies than in emerging and developing countries. Overall, global growth in 2023-24 will […]

Read more

Finnfund invests in Metier Capital Growth Fund III to foster growth companies and job creation in Sub-Saharan Africa

Finnfund, a Finnish development financier and impact investor, has announced a USD 15 million commitment to Metier Capital Growth Fund III. The fund has a geographic focus on Sub-Saharan Africa and is expected to make eight to twelve equity and equity-related investments into mid-market companies with high growth features in sectors, including ICT and manufacturing […]

Read more

Connecting the dots: How to bridge the investment gap in the clean energy sector in Sub-Saharan Africa?

A knowledge sharing and networking event between Finland-based development funders was organised to showcase and provide insights on financing for and working with local companies in the region. It also provided an opportunity to forge new partnerships and to explore how financing could be brought closer to the local companies. EEP Africa, Finnfund and Finnpartnership […]

Read more

Event: Clean energy in Africa – closing investment gaps

Join us on 28 September in Helsinki or online! What does the clean energy sector look like today in Sub-Saharan Africa? What are the biggest opportunities and bottlenecks? What lessons are there for Finnish and other companies and actors interested in or already involved with the market? What type of funding is available for companies […]

Read more

Finnfund and DFC commit 15 million US dollars in equity and loan financing to Kentegra Biotechnology to boost the expansion of pyrethrin production in Kenya

Kentegra Biotechnology was founded in 2017 and has quickly grown to become the leading pyrethrin producer in Kenya. Finnfund, the Finnish development financier and impact investor, and the United States International Development Finance Corporation (DFC), a development finance institution and agency of the United States federal government, participated in the funding round, which gathered equity […]

Read more