FinDev Canada has agreed to invest US$12-million in Miro Forestry, a West African tree plantation company that is based in Ghana and Sierra Leone. The company was established in 2011 and now has plantations on an estimated 25,000 hectares of land with millions of trees already planted. The funding will be used to expand the company’s plantations on the existing land area which already make Miro Forestry the largest forestry business in West Africa.
FinDev Canada is an impact investor that provides easier access to capital for entrepreneurs in developing countries by providing direct loans, guarantees, structured project finance and equity. The firm intends to be a key contributor to inclusive international development financing with solutions for sustainable impact. FinDev Canada is wholly owned by Export Development Canada and has committed to US$181-million in funding of which US$87-million is in Sub-Saharan Africa