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The year in review

2023 was an eventful year for Swedfund. Here, we highlight some key events, including those related to our operations, strategy and partnerships.

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Portföljbolagens verksamhetsländer och det är där våra investeringar skapar utvecklingsresultat. Vårt arbete tar avstamp i vår förändringsteori (Theory of Change). Det innebär att vi gör en analys av hur en potentiell investering kan bidra till förändring samt vilka direkta och indirekta

January

Capital injection MSEK 1,460

Swedfund received a capital injection of MSEK 1,460, with MSEK 460 earmarked for climate investments

April

New regional office

As part of our increased focus on West Africa, we opened a new regional office in Abidjan, Côte d’Ivoire.

May

Stakeholder dialogue

During the development of our new strategy, we conducted a stakeholder dialogue with civil society to gather important views and perspectives.

june

Investments in Ukraine

Together with the European Bank for Reconstruction and Development and 16 other development finance institutions, we signed a cooperation agreement for private sector investment as part of the country’s reconstruction.

june

Sweden’s EU presidency

At the Financing for Digitalisation and Green Growth event, we shared key lessons from our investments and our work on digitalisation.

September

Project funding in Ukraine

Swedfund’s Project Accelerator received MSEK 50 in earmarked funding for projects in Ukraine

october

Accelerating Global Gateway

At the Global Gateway Forum, we discussed how to accelerate the implementation of the EU Global Gateway initiative with business representatives.

december

New strategy

We adopted a new strategy for 2024–2030 with the aim of tripling our contribution to the Sustainable Development Goals.

january 2024

Apollo Agriculture

Our first investment in the Food Systems sector, which is also the first to use the EU guarantee under the Global Gateway framework.

Impact and results at a glance

In our mission to contribute to poverty reduction through sustainable investments in developing countries, it is vital that we set clear goals and measure results. Here, we present some of the key results that we have achieved. The figures from 2023 show that our portfolio is performing as well as or better than last year in most of the indicators we use to measure the impact of an investment.

Sector-specific results in line with each sector’s Theory of Change

Energy & Climate

11 TWh

Energy production

~570,000

Number of households and enterprises with access to electricity via off- and mini-grids

Financial Inclusion

~8,100,000

Number of microfinance loans

~690,000

Number of loans to SMEs

Sustainable enterprises

186,000

Number of jobs

MSEK 6,886

Tax revenues

Food Systems

2023

In 2023 we added a new sector to expand our work within the agriculture sector.

By investing in production and processing, we aim to contribute to more efficient food supply.

Swedfund Employee Portrait:
Kitanha Toure, Regional Director of West Africa

Kitanha Toure, Regional Director of West Africa at Swedfund, tells us about the opening of the new regional office in Abidjan, Côte d'Ivoire, and how Swedfund plans to scale up investments in the region.