Swedfund Pumps €26m into AfricInvest's FIVE

Swedfund Invests EUR 26 M In AfricInvest’s FIVE To Expand Access To Finance In Africa

Swedfund, Sweden’s development finance institution, has committed EUR 26 M (USD 28.2 M) in AfricInvest’s Financial Inclusion Vehicle (FIVE), an investment vehicle designed to strengthen financial institutions across Africa and bring banking services to people and businesses who’ve been left out of the formal financial system. The investment is part of Swedfund’s broader strategy to promote inclusive finance by strengthening the capacity of local…

Swedfund Pumps €26m into AfricInvest's FIVE

By Modupe Gbadeyanka The Financial Inclusion Vehicle (FIVE) of AfricInvest has received the injection of €26 million from Swedfund to boost access to financial services in Africa. About a fifth of the African population has access to formal banking services. Limited access to finance restricts entrepreneurship, job creation, and the ability to absorb economic shocks. […]