73 posts found.
Selected Category: Africa
Regardless of the dark clouds over Kenyan economy, the banking sector is performing relatively well
Finnfund’s strategy places a strong emphasis on Africa, with half of the investments in the continent. Kenya is one of the important markets in East Africa and that is why we opened a regional office in Nairobi in 2022. The Kenyan economy is experiencing challenging times and Finnfund’s Economist Nea Tiililä took a closer look […]
Read moreAugust 14, 2023
Finnfund invests in Evolution III to foster the availability of clean energy and climate mitigation in Africa
Finnfund, a Finnish development financier and impact investor, has announced a USD 20 million commitment to Evolution III Fund, a Pan-African equity fund aiming to foster the availability and accessibility of clean energy and increase energy efficiency. Riikka Molander, Associate Director & Head of Funds at Finnfund said: “Our investment in Evolution III Fund marks […]
Read moreMarch 20, 2023
Finnfund sells its shares in Lake Turkana Wind Power to BlackRock
– “Undeniably one of the best wind sites in the world” Finnfund, a Finnish development financier and impact investor, has entered into an agreement to sell its shares in Lake Turkana Wind Power Limited (LTWP) in Kenya, owning and operating the largest wind farm in Africa. Finnfund has been a shareholder in the company ever […]
Read moreMarch 16, 2023
Terhi Koipijärvi: Strategic thinking over administration
What is most important in Board work? How to draw the line between operational and strategic thinking? How to avoid getting bogged down in administration? What is it like to serve on the Board of the largest forestry company in East Africa? “Thank you for your faith in me, what an intriguing company!”, replied I […]
Read moreJanuary 30, 2023
Finnfund invests 8 million US dollars in Menengai Geothermal Project in Kenya
Finnfund is one of the investors financing a geothermal project in Nakuru County, Kenya. Globeleq, the leading private power company in Africa, has signed financing agreements with the African Development Bank (AfDB), Finnfund and the Eastern and Southern African Trade & Development Bank (TDB) with regard to the US$72 million debt funding for the 35MW Menengai […]
Read moreDecember 15, 2022
Finnfund’s 3.4 million US dollar investment in KaiOS helps bring affordable mobile connections to Sub-Saharan Africa
Finnfund invests 3.4 million US dollars in KaiOS Technologies, maker of KaiOS, the leading mobile operating system for smart feature phones. It has been estimated that 3.4 billion people in emerging markets do no use internet despite living in areas with mobile broadband coverage. One of the greatest barriers to mobile internet adoption is the […]
Read moreNovember 23, 2022
Investment in Africa Mobile Networks bridges the digital divide between rural and urban populations in Sub-Saharan Africa
The BlueOrchard Sustainable Assets Fund (BOSAF) and the OP Finnfund Global Impact Fund I will provide a USD 20 million debt investment to support the growth of Africa Mobile Networks (“AMN”), a telecom provider focused on rural Sub-Saharan Africa, in bringing network services to an estimated 35 million people. Mobile network access and connectivity are […]
Read moreNovember 9, 2022
First investors in African Forestry Impact Platform announced
New Forests, British International Investment (BII), Norfund and Finnfund, have signed subscription agreements for their investment in a dedicated African fund, the African Forestry Impact Platform (AFIP), for US$200 million, and announced AFIP’s first acquisition, Green Resources, East Africa’s largest forest development and wood processing company. This follows an announcement at COP26 around an intention […]
Read moreOctober 20, 2022
Sampsa Auvinen: Crisis is reshaping the global plywood market
Can this be true? A modern factory producing high-quality FSC-certified plywood in Ghana? When I showed European buyers at the Dubai Woodshow exhibition in March pictures of the factory in Ghana, many found them hard to believe. Preconceptions are hard to break. I myself believe that this is just the beginning. The war in Ukraine […]
Read moreOctober 19, 2022
Finnfund invests in Wave, a mobile money provider bringing affordable services to Sub-Saharan Africa
Finnfund’s investment is a part of a financing package arranged by IFC. Other investors are Symbiotics, Blue Orchard, responsAbility, Lendable and Norfund. Mobile money service increases financial inclusion. The LDC countries where Wave operates record some of the lowest account penetrations globally and Wave’s service gives the customers access to affordable accounts and payment services […]
Read moreJuly 25, 2022