Swedfund invests US$26mn in the African infrastructure fund AIIF4

03 Feb 2023

On December 16, Swedfund invested USD 26 million in African Infrastructure Investment Fund 4 (AIIF4). It is an African infrastructure fund, managed by Africa Infrastructure Investment Managers (AIIM).

AIIF4's mandate covers both energy infrastructure, such as renewable energy production, digital infrastructure such as data centers, fiber networks, and transportation infrastructure in the form of roads and logistics solutions at ports. The fund is aimed at countries in Africa and through the fund's investments, infrastructure is built that strengthens companies, for example in the form of logistics solutions in ports and improved digital infrastructure. Part of the fund's investments are expected to go to the expansion of renewable energy, which creates the conditions for a green transition. However, the fund creates jobs by strengthening the competitiveness of companies.

This is the first investment Swedfund has made in broader infrastructure that includes more than just clean energy and climate infrastructure.

- This is a partly new area for Swedfund as it is more than just investments in renewable energy. It is a good way to reach out with investments that create jobs and can also contribute to the climate transition and lead to digital development, says Maria Håkansson, CEO of Swedfund.

The investment in AIIF4 provides an opportunity to build on this sector's focus on key infrastructures and services linked to them that are expected to support economic development and employment, as well as increased and improved access to renewable energy and thus climate change mitigation. AIIF4's investments in digital infrastructure and mobility and logistics, like energy-related investments, can help overcome the lack of access to services and infrastructure that play a key role in growth, development and supply.

The investment is made in collaboration with several other European development financiers and South African insurance company Old Mutual.

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