The Swedfund, IFC, FMO and the Belgian Investment Company will invest US$10-million in African Rivers Fund. The limited partner amount allocated will be used to provide loan financing to small and medium enterprises (SME) in the DRC, Uganda and Angola. African Rivers Fund is an SME mezzanine fund active in Central Africa with a specific focus on the DRC. It is managed by the Netherlands based fund manager XSML and intends to build on its prior experience with the Central African SME Fund.
The Swedfund is a development finance institution that is wholly-owned by the Swedish state. The organization was founded in 1979 to fight poverty by investing in sustainable businesses in developing countries. Capital injected in the Swedfund is SEK3-billion Swedish krona and 58% of Swedfund’s portfolio is in Sub-Saharan Africa.