AfricInvest fund receives €26m commitment
Swedfund has invested €26 million in AfricInvest’s Financial Inclusion Vehicle.
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Swedfund has invested €26 million in AfricInvest’s Financial Inclusion Vehicle (FIVE), a platform designed to back financial institutions across Africa.
"Our investment in FIVE further strengthens our engagement to improve access to banking and other financial services in underserved communities. This in turn spurs job creation and growth. We are also able to strengthen financial institutions and the development of innovative financial services," says Jakob Larsson, senior investment manager at Swedfund.
FIVE was established in 2017 by AfricInvest. Other investors include the Norwegian, Danish, Dutch, German and Belgian development finance institutions as well as African multilateral development institutions and pension funds.
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