News
We publish news and press releases about our investments and other current topics.
Finnfund’s initial reaction to the Gaipe Report
On 6 July 2017, FMO and Finnfund finalized their exit from the Agua Zarca project in Honduras. Following the murder of Berta Cáceres, a well-respected human rights activist, FMO and Finnfund publicly expressed the deepest sorrow at her violent death. We have called upon the Honduran authorities for a thorough investigation and continue this call […]
Read moreNovember 2, 2017
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. […]
Read moreNovember 1, 2017
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 […]
Read moreSeptember 28, 2017
Finnfund invites comments on the discussion paper concerning its tax policy reform
Preparing to reform its tax policy, Finnfund wishes to give all those willing to comment on its first discussion paper a chance to do so. The discussion paper will provide a basis for reforming Finnfund’s tax policy. It will also provide a basis for developing a tax tool which Finnfund will use to assess the […]
Read moreSeptember 14, 2017
Finnfund provides funding for 40 MW power plant in Argentina
Finnfund has provided a senior loan facility worth USD 20 million to Methax S.A. for building a power plant in Mendoza, Argentina. The project company Methax is owned by a power investor Grupo Galileo. The power plant is supplied by Wärtsilä. The power plant will generate electricity from liquefied natural gas (LNG) which will be […]
Read moreAugust 24, 2017
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 […]
Read moreJuly 11, 2017
FMO and Finnfund finalize exit Agua Zarca
Two of the lenders of the Agua Zarca hydropower project in Honduras, FMO (Netherlands Development Finance Institution), Finnfund (Finnish Fund for Industrial Cooperation), together with owner and developer DESA, mutually agreed to end their existing contractual relations. This joint conclusion was reached after extensive consultations with a large number of local and international stakeholders and […]
Read moreJuly 6, 2017
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 […]
Read moreJune 30, 2017
Finnfund issues successfully a 5-year EUR 100 million bond
The Finnish Fund for Industrial Cooperation Ltd (Finnfund) has successfully priced a 5-year EUR 100 million private placement. The issue was oversubscribed, allocations were made to investors from Central Europe, Finland and Scandinavia. This transaction follows the EUR 50 million private placement made in 2013. It will further diversify the funding base and allow Finnfund […]
Read moreJune 21, 2017
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 […]
Read moreJune 15, 2017