Swedfund, is selling its stake in the Kenyan insurance company UAP. The sale, to Old Mutual, entails a capital gain exceeding SEK 160 million for Swedfund. ”In only three years we have succeeded in achieving Swedfund’s primary targets for the business. We have realized substantial value, created employment opportunities and fair employment conditions,” states Anna Ryott, MD at Swedfund.
For sustainability issues to be taken seriously, they must be integrated in corporate governance. As a development financier, we want to prove that it’s possible. That was the idea behind our Integrated Report 2013.
Swedfund invests MEUR 8 in AfricInvest Fund III LLC, a pan-African fund focused on small and medium enterprises in Sub-Saharan Africa. Through this investment Swedfund will contribute to stimulating growth, job creation and sustainable development in more companies in the region.
On October 12, Swedfund increased its financial commitment to the Interact Climate Change Facility (ICCF) by providing an additional MEUR 5 for climate change projects in emerging markets.
H&M and Swedfund have initiated a unique cooperation with the aim of contributing to the development of a responsible textile industry in Ethiopia with high social and environmental standards.
Swedfund provides Fidelity Bank, an indigenous Ghanaian bank with a strong focus on small and medium sized enterprises (SMEs) a MUSD 14 long-term subordinated loan. By supporting the banking sector in Ghana, Swedfund will contribute to job creation, increased demand and private sector development.
Addax Bioenergy has now started its first production of bioethanol and renewable electricity at the plant in Makeni, Sierra Leone. Production is estimated at 85,000 m3 of bioethanol per year by the end of 2016 and the plant is expected to contribute approximately 20% of the country’s current production of electricity.
For the first time, Swedfund presents an integrated report that equates sustainability reporting with the financial statements and clearly describes the positive development outcomes as a result of Swedfund investments.
One of Swedfunds investments in Georgia, TBC Bank, was awarded Best Bank in Georgia and Best CSR in the region in the Europe Banking Awards arranged by EMEA Finance magazine.
On March 13th 2014, Swedfund continued an ongoing stakeholder dialogue that began in the spring of 2013. Among other civil society organizations, representatives of Diakonia, Action Aid and Forum Syd participated in this latest meeting. The dialogue was chaired by Lars-Olle Larsson, Senior Manager of ESG issues at Swedfund.
Swedfund, in partnership with DEG and lead investor Quadria Capital, invests in the specialist healthcare provider Medica. The investment will facilitate Medica becoming the leading hospital chain in Eastern India. Medica’s mission is to provide high quality healthcare services at an affordable cost.
Swedfund and The Africa Health Fund through The Abraaj Group invests equity in a well established chain of private hospitals in Eastern Africa.
