News
We publish news and press releases about our investments and other current topics.
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
Finnfund and MLR Forestal to work on an innovative biodiversity remediation programme in Nicaragua
Finnfund, a Finnish development financier and impact investor, and MLR Forestal, a Nicaraguan agroforestry company, launched an innovative pilot project to restore 554 hectares of degraded forest lands with significant biodiversity potential in Nicaragua. MLR Forestal, established in 2013, a Finnfund investee since 2019, is an agroforestry company focusing mainly on production of teak and […]
Read moreDecember 16, 2022
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 invests in regional insurtech Igloo to increase the insurance coverage in Southeast Asia
Finnfund is one of the investors in a financing package led by The InsuResilience Investment Fund II, initiated by German development bank KfW and managed by impact investor BlueOrchard Finance Ltd. The 27 million US dollar investment in regional insurtech Igloo brings the company closer to its vision of enabling ‘Insurance for All’. Igloo facilitates […]
Read moreNovember 29, 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
Finnfund invests in VinFast, manufacturer of Vietnam’s first fully-electric public transport bus fleet
Finnfund is one of the investors in a 135 million US dollar financing package to VinFast in Vietnam. The company manufactures Vietnam’s first fully-electric public transport bus fleet and developed the first national electric vehicle (EV) charging network. The investment will support Vietnam’s efforts to achieve net-zero greenhouse gas emissions and expand high-tech manufacturing industries. […]
Read moreOctober 24, 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