Finland backs TradeMark East Africa with US$13m to boost regional trade

EAST AFRICA – TradeMark East Africa (TMEA) and Finland have signed a three-year agreement to revive and boost trade in the region following a decline caused by Covid-19 restrictions.  The US$13 million fund is aimed at supporting initiatives along the Northern Corridor that stimulate economic activity. The agreement was signed at the Kenya Ports Authority headquarters in Mombasa on by Finnish Ambassador to Kenya Erik Lundberg and TMEA board chairman Erastus Mwencha and witnessed by Dr Kevit Desai, Principal Secretary in Kenya’s Ministry of East Africa Community Affairs. Mr Lundberg…

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OP Finnfund Fund raises US$86m in their first round for sustainability impacts

AFRICA – OP Finnfund Global Impact Fund I, a Finland based fund, has raised €76 million (US$86 million) in its first round of funding, attracting various institutional investors targeting significant sustainability impacts in addition to profits. Finland’s Church Pension Fund, Security Trading Oy, Oy Julius Tallberg AB, the Finnish Industrial Union, the Finnish Municipal Foundation, the Finnish Red Cross, OP Life Assurance Company and Finnfund have participated in the first close. It is the first Finnish impact fund to invest in emerging markets. The fund made its first close on…

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BASF unveils new car battery production plant in German to serve rising demand from European vehicle manufacturers

GERMANY – BASF, a global leader in Chemicals, Materials, Industrial Solutions, Surface Technologies, Nutrition & Care and Agricultural Solutions has unveiled a new battery materials production site in Schwarzheide, Germany. The German chemical company which is the second largest chemical producer in the world said that the new plant was part of its multi-step investment plan to support the European electric vehicle (EV) value chain. “This state-of-the art plant will produce cathode active materials (CAM) with an initial capacity enabling the supply of around 400,000 full electric vehicles per year…

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