Press release —
Swedfund invests USD 15 million for inclusive growth and better access to essential services in Africa
Swedfund invests USD 15 million in Lightrock Africa Growth Fund II. The investment aims to increase access to essential services, support economic growth and create jobs in underserved African markets.
Access to essential services such as financial and digital solutions, energy and transport remains limited for large parts of the population in many African countries, particularly among underserved groups and small and medium-sized enterprises (SMEs). Addressing these gaps is important for fostering inclusive economic development, strengthening businesses, and creating jobs with decent working conditions.
“Many growing businesses in Africa struggle to access the capital needed to expand services that people and small businesses rely on. This investment will help businesses scale solutions in areas such as finance, healthcare and sustainable transport, contributing to job creation and stronger local economies. We also see potential for further private capital mobilisation.” says Helen Hagos, Investment Director at Swedfund.
The investment aims to support growth-stage companies across Africa that use technology to expand and improve services. By backing businesses with proven models and growth potential, Swedfund through this investment seeks to promote financial inclusion, improve productivity and contribute to sustainable economic development.
The investment aligns with Swedfund’s strategy to support sustainable and inclusive economic development in underserved markets. It also contributes to Swedfund’s climate and digitalisation priorities.
About Lightrock
Lightrock is a global investment platform supporting the growth of technology-enabled companies. Its strategies invest in public and private companies delivering proven solutions to pressing global challenges across the themes of People, Planet, and Productivity. For more information, visit www.lightrock.com
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About Swedfund
Swedfund is Sweden’s development finance institution with the mission to reduce poverty through sustainable investments in developing countries. Swedfund plays an important role in the implementation of the 2030 Agenda and the Paris Agreement on climate. Swedfund shares the same goal as development cooperation in general, but the tools Swedfund uses are different. Swedfund has two instruments to fulfil its mission: sustainable investments in the private sector and technical feasibility studies through the Project Accelerator targeting the public sector.
Swedfund's investments contribute to the creation of decent jobs and increased access to essential products and services such as electricity and food. Swedfund is a long-term investor and is additional and catalytic through its investments and by mobilising private capital. Swedfund's feasibility studies support sustainable public infrastructure development, trade, and export opportunities for Swedish solutions.
We are part of Swedish development cooperation, and we measure and report all our results. As a state-owned company, Swedfund is managed by the Ministry of Finance and financed through portfolio reflows and annual capital injections for which the Swedish Ministry for Foreign Affairs is responsible.
For more information: please visit www.swedfund.se/en
