Key facts
- Implementing Partner:
Finnfund
- Guarantee volume:
Up to €100 million
- Global Gateway areas of partnership:
Digital
- Sectors:
Digital infrastructure and platform providers
- Geographical focus:
Sub-Saharan Africa with a focus on fragile states and least developed countries
- Type of support provided:
Financing, Technical assistance
- Types of investments:
Direct investments and pass-on guarantees for private co-investors are foreseen. Underlying investments include debt and equity operations.
- Investment period:
Open for investments until October 2028
- Technical assistance:
up to €7 million
Description
Promoting sustainable investments into the digital sector is at the core of the EU’s Global Gateway initiative. The Africa Connected programme, designed to mobilise investments in digital infrastructure providers and digital platform businesses in Sub-Saharan Africa, showcases the EFSD+ guarantees’ potential in addressing crucial investment needs that remain in EU partner countries – especially in rural, thinly populated or low-income areas and suburbs.
Increased digital connectivity creates employment, increases efficiency and productivity of businesses, as well as governments’ tax revenues. It also contributes to closing the digital divide in internet usage and coverage between Sub-Saharan Africa and the rest of the world. The programme promotes gender equality by targeting women, who are less likely to use mobile services than men, potentially excluding them from the benefits of using digital services such as financial, government, education or health services.
How can businesses and investors get involved?
If you are a business representative or an investor with an interest in this guarantee program, we recommend getting in touch directly with Finnfund.
Contact: investments
finnfund [dot] fi (investments[at]finnfund[dot]fi)
About Finnfund
Finnfund is a Finnish development financier aiming to build a sustainable future and generate lasting impact by investing in businesses that solve global development challenges. Finnfund invests €200-250 million in 20-30 companies in developing countries each year. The investments’ focus sectors include renewable energy, sustainable forestry, sustainable agriculture, financial institutions, and digital infrastructure and solutions.