Swedfund invests USD 15 million for inclusive growth and better access to essential services in Africa
Introduction
Swedfund invests USD 15 million in Lightrock Africa Growth Fund II (“LAF 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