77 posts found.
Selected Category: Africa
Access to electricity – at any cost?
Sustainable Development Goal 7 aims to ensure access to affordable, reliable, sustainable and modern energy for all by 2030. Some progress has been made but Sub-Saharan Africa remains a challenge. International Energy Agency recently published data showing that, for the first time in modern history, the global population without access to electricity is below 1 […]
Read moreAugust 21, 2019
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 […]
Read moreAugust 14, 2019
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 […]
Read moreJune 10, 2019
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 […]
Read moreApril 5, 2019
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 […]
Read moreMarch 7, 2019
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 […]
Read moreFebruary 4, 2019
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. […]
Read moreOctober 31, 2018
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 […]
Read moreSeptember 12, 2018
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 […]
Read moreFebruary 15, 2018
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 […]
Read moreNovember 13, 2017