Finnish development financier Finnfund plans to set up its first regional office in Kenya in May 2022. The 2-3 investment professionals will be deployed to the Nairobi office.
“Africa is the place to be for European development financiers. It is a continent where jobs and investments are very much needed, and at the same time, it is the new frontier, where opportunities are abound, and life is getting better for millions of people.
Some of our best and most impactful investments are in East Africa, and we intend to make many more such investments in the coming years,” says Jaakko Kangasniemi, the CEO of Finnfund, in a press release.
The financier says its 2022-2025 strategy places a strong emphasis on Africa, with half of Finnfund’s upcoming investments in Africa. Local presence is seen as a key factor for growing the volume of investments in the region.
Finnfund’s key strategic objectives:
- Double total impact from 2020 to 2025
- 50% of investments with private capital by 2030
- Maintain a carbon net negative portfolio
“The regional office will play a central role in strengthening our position in the East African market. The location supports and streamlines the follow-up of the regional market and existing projects and collaboration with co-investors,” says the head of the Nairobi office Johanna Raehalme.
Finnfund’s focus sectors include renewable energy, sustainable forestry, sustainable agriculture, financial institutions, and digital infrastructure and solutions.
Its investments and commitments total about 1.070 billion euros, half of them in Africa.