Swedfund backs PE fund

Swedfund has announced an investment of $10 million in African Rivers Fund III, managed by XSML, together with the IFC, FMO, BIO and DGGF (Dutch Good Growth Fund). African Rivers Fund III will primarily provide loan financing to small and medium-sized companies in the Democratic Republic of Congo (DRC), Uganda and Angola.

”In the light of Covid-19, it is more important now than ever to increase access to long-term financing for small and medium-sized companies with the purpose to create jobs. Therefore, I am very pleased to make this investment to reach vulnerable people demographics in some of the least developed countries in the world,” says Swedfund’s CEO Maria Håkansson.

XSML is a fund manager investing in frontier markets in Central and East Africa.

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