Apis Growth Markets Fund III
Introduction
Apis Growth Fund III invests in companies offering financial services, often with a technological component, in Africa and South Asia. Countries include Egypt, India, Indonesia, Kenya, Nigeria and South Africa.
Swedfund's investment contributes to increased digitalisation and innovation, sustainable private sector development and better access to quality financial services for low- and middle-income earners.
Co-investors include BII, DEG, IFC and OeEB.
Read more in our press release: Swedfund invests to drive digitalisation and innovation in Africa and South and Southeast Asia
Facts
SDG in Focus
No Poverty
End poverty in all its forms everywhere.
Decent Work and Economic Growth
Promote sustained, inclusive and sustainable economic growth, full and productive employment and decent work for all.
Value creation
Our Impact
The investment contributes to sustainable private sector development and economic growth, as well as to the development of the region’s digital ecosystem. The investment is expected to contribute to increased financial inclusion and the creation of jobs and other income-generating opportunities locally.
ESG
We are working closely with the fund manager to develop their environmental and social management systems that have the capacity to manage and mitigate risks related to, for example, climate. We are also working closely with the fund manager to strengthen their anti-corruption management system.
Additionality
Our investment is financially additional as it is made in a challenging context with high risks, high rates of poverty and where access to capital is limited. The investment is expected to contribute to mobilising capital. The investment is value additional through a strong focus on active value creation during the investment phase, where environmental, sustainability and corporate governance issues are prioritised.