(Ecofin Agency) - Zambian aquaculture company Yalelo received $6 million from Finnfund, a Finnish financial institution that provides fund for private companies in developing countries, to expand its activity. The financing is Finnfund’s first direct investment in Zambia.
The sum will enable the company specializing in the production and marketing of fish (Tilapia) to increase its annual production capacity from 12,000 to 25,000 tons.
Finnfund generally focuses on sustainable investment opportunities through support between €1 million and €25 million. In 2018, the institution invested €154 million in 26 operations, 20 of which were in Africa. The continent has mobilized 67% of Finnfund's total funding mainly in Nigeria, Tanzania, Kenya, Ghana, and Egypt.