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Impact Fund Denmark has invested DKK 160 million (about $25 million) in The New Forests Company (NFC), a forestry business with plantations and timber-processing operations in Uganda and Tanzania.

Impact Fund Denmark said demand for timber products is rising across East Africa, with significant volumes imported. It added that increasing local timber production and processing could support jobs, tax revenues and value creation in the region.

The investment will be used to expand plantations and develop new facilities to produce timber products locally in East Africa.

With Impact Fund Denmark’s investment, NFC plans to expand its forest area from 30,000 to 100,000 hectares.

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Impact Fund Denmark invests in East Africa…