FinnFund is a Finnish development financier investing in sustainable businesses in Africa, Asia, and Latin America. Currently, Finnfund has two direct investments in Zambia. 

 

In 2019, Finnfund invested USD 6 million of equity to support the work of Yalelo, a pioneer of sustainable production and leading aquaculture business in Zambia. With this investment, Yalelo has been able to develop its operations and is aiming to expand annual production from 12 000 to 25 000 tons. Besides providing a solution to urgent challenges of overfishing and food security, Yalelo is providing vital employment opportunities both in production as well as in distribution, having a positive impact on the local economy. More information about this investment can be found at https://www.finnfund.fi/en/news/finnfundsinvestment-boosts-the-expansion-of-aquaculture-in-zambia/. 

 

In 2019, Finnfund committed to financing Maarifa Education, a private tertiary education company, with up to USD 7 million of equity. The company currently owns and operates two universities, including Cavendish University in Zambia. This funding will enable them to continue enhancing the quality of their academic programs and student services, as well as acquiring additional universities. Despite the current Covid-19 crisis, they have been striving to continue offering quality teaching to their students. Much of this has been possible with help from Claned, a Finnish EdTech company offering distance-learning platforms for teachers and students. More about this investment here. 

 

In addition, Finnfund is supporting the development of Zambia’s agricultural sector through a fund investment, fostering the growth and development of three companies operating in the Zambian agricultural sector: https://www.silverstreetcapital.com/