Press release -
Swedfund strengthens the support of African companies through investment in African Development Partners III
Sweden's development financial institution Swedfund has invested 15 million dollars in the African Development Partners III fund. With this investment, Swedfund sees an opportunity to continue to contribute to the sustainable development and growth of more companies in Africa. With one of Africa's most experienced investment teams, the Fund Manager Development Partners International has since 2008 successfully invested in many African companies and created significant social development through, among other things, new jobs and tax revenue. The Fund exercises active ownership with a clear focus on ESG issues such as business ethics and anti-corruption.
-It is important for us to continue to support one of Africa's most experienced investment teams in order to contribute to the development of the private sector in Africa through increased employment opportunities in growing companies. The Fund's focus reflects Swedfund's three pillars of social development, sustainability and financial sustainability and therefore fits well into our overall strategy and vision, says Maria Håkansson, CEO of Swedfund.
The fund manager Development Partners International has so far, through the funds ADP I and ADP II, invested in over 20 companies with operations in 29 countries in Africa. The fund manager has a well-proven and structured approach to sustainability and its portfolio companies are showing high growth and are found in sectors such as insurance and banking, food and retail, education and telecoms. The fund manager has now had its first closure for its third fund ADP III, in which Swedfund invests 15 million dollars together with other development financiers such as English CDC and Norwegian Norfund.
Swedfund is Sweden's development finance institution for sustainable investments in developing countries. In order to achieve the goal: a world without poverty, more jobs are required in the private sector and that access to renewable energy is increasing. Investments are therefore made within energy & climate, health and to reach small and medium-sized companies.
As a state-owned company, Swedfund is managed by the Ministry of Enterprise and Innovation. The operations are financed partly through capital injections for which the Ministry of Foreign Affairs is responsible and through reflows from the own portfolio. Swedfund was founded in 1979 and has since the start made more than 240 investments in more than 60 countries.