Swedfund invests in urban Africa fund

Swedfund has invested EUR 30 million in the Urban Resilience Fund to address climate change and urbanisation in Sub-Saharan Africa.

The fund, managed by Meridiam, invests in greenfield infrastructure projects and companies that improve the urban environment and provide essential public services to local communities. These projects will address urbanisation problems in Africa, which include inadequate infrastructure, high levels of pollution, and significant social inequalities.

To help cities adapt to the effects of climate change and reduce greenhouse gas emissions, the fund is also expected to invest in micro-grids, waste management facilities and energy-efficient community environments such as street lighting and urban mobility to reduce congestion and pollution in densely populated areas.

Jérémie Hoffsaes, a member of Swedfund’s Energy & Climate team, said, “By focusing on resilient infrastructure, TURF is not only addressing the immediate needs of rapidly growing cities, but also laying the foundation for sustainable urban development that prioritises climate resilience and social equity.”