By 
Finnfund, Finland’s development financier and impact investor, has announced the first closing of the Finnfund Digital Access Impact Fund I LP (DAIF), securing €80 million to strengthen digital infrastructure in Africa, Asia, and Latin America.
RELATED: Cassava Technologies partners Mitsui to accelerate digital transformation in Africa
The fund will invest in solutions that bridge the digital divide, and expand internet access. It will also promote financial and gender inclusion in underserved communities.
Driving Digital Transformation in Africa
Africa remains at the heart of DAIF’s strategy, with investments targeting telecom towers, and broadband connectivity. On the menu are also scalable digital infrastructure, and high-impact tech solutions. By addressing limited connectivity, the fund aims to unlock opportunities in e-commerce, remote work, digital payments, and education.
“Most African internet users rely on limited mobile data, making affordable home Wi-Fi a game-changer. By financing companies that deliver high-speed, reliable internet, we can drive digital inclusion and accelerate economic growth,” said Hanna Loikkanen, Finnfund’s Chief Investment Officer.
A Partnership for Sustainable Growth
The initiative is supported by the European Commission’s European Fund for Sustainable Development, which provides risk-sharing and technical assistance.
According to Finland’s Minister for Foreign Trade and Development, Ville Tavio, DAIF demonstrates how public-private collaboration can mobilise capital for sustainable development and improve lives in emerging markets.
Inclusive and Child-Centred Investment Approach
In addition to digital access, Finnfund applies a Child-Lens Investing approach, developed with UNICEF Innovative Finance Hub, to ensure positive outcomes for children and reduce potential risks.
Outlook: Unlocking Africa’s Digital Future
Finnfund and the Ministry for Foreign Affairs of Finland serve as anchor investors, with the first portfolio investments expected in 2025. While initial funding is targeting Latin America, Africa remains a key growth region where investments in unlimited. Affordable broadband are projected to transform digital economies and empower millions of low-income households in Africa.
