Swedfund makes additional investment in African Rivers Fund 3
The Swedish development finance institution, Swedfund, announced an additional investment of $4.45 million in African Rivers Fund 3 (ARF 3), managed by XSML, increasing Swedfund’s total commitment to $14.45 million. ARF 3 primarily provides loan and equity financing to small and medium-sized companies in the Democratic Republic of Congo (DRC), Uganda and Angola.
“Small and medium-sized companies need access to long-term financing with the purpose to create jobs. We are happy to announce this additional investment that enables us to reach more SMEs getting access to finance in some of the least developed countries in the world,” says Swedfund’s CEO Maria Håkansson.
Since Swedfund’s first investment in August 2020, the fund manager has invested in approximately 20 companies enabling entrepreneurs to access the financing and support they need to strengthen and develop their businesses in regions often neglected by investors. The fund manager aims to grow small businesses into medium and large enterprises and will provide growth capital to some 30-40 companies.
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