Four Nordic development finance institutions – Finnfund, IFU, Norfund and Swedfund – have completed a USD 34 million equity investment in Norsad Finance Limited, a provider of long term financing for SMEs in Southern Africa. The investment increases Norsad’s capital base to over USD 100 million and will facilitate the company’s strategy of expanding its investment activities in the region.
IFC, a member of the World Bank Group, and Swedfund, Sweden’s development finance institution, agreed today to increase and streamline their collaboration to provide much-needed financing to private sector companies and help boost growth and jobs in emerging markets.
On Wednesday June 27 the Sweden Ghana Medical Centre (SGMC) was officially opened. Ghanaian Vice President John Mahama Dramani, GMI’s CEO Thomas Pollare and Chairman Henry Broni-Amponsah made speeches to the media and a large number of invited guests.
UAP Holdings Limited (UAP), an insurance company with operations in Kenya, Uganda, and South Sudan, has received capital to finance expansion in the region, including Rwanda. Swedfund will contribute US$ 10 million to finance this growth.
Vattenfall has decided to buy Swedfund’s share of their jointly owned company Vattenfall Biomass Liberia AB, in which Swedfund is a minority shareholder. Vattenfall Biomass Liberia AB is a shareholder of Buchanan Renewables Fuel, Liberia. This means that Swedfund will exit its committment in Liberia.
Anders Craft has been appointed Acting Managing Director at Swedfund International AB. Anders joined Swedfund in 2004 from 3i Nordic plc and for the past two years has been director of Swedfund’s investment operations and investment portfolio. Anders brings to the role both a strong institutional knowledge of Swedfund as well as long experience in international investment.
Swedfund is the Swedish government’s Development Finance Institution, contributing through sustainable investment to economic and environmental development as well as a positive impact to society in the world poorest countries.
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