Swedfund

Swedfund is Sweden’s development financier, established in 1979. Its mission is to reduce poverty through sustainable investments. In Kenya, Swedfund supports the agricultural sector through financial investments in banks and direct support to agri-fintech companies.

Swedfund has invested in Victoria Commercial Bank (VCB). The investment aims to expand lending to small and medium-sized enterprises (SMEs), including agricultural businesses. VCB has implemented an environmental and social management system supported by Swedfund. This system follows IFC Performance Standards and ILO core conventions. In addition, VCB runs the Women4Growth program, which promotes women’s economic empowerment with training in leadership and inclusion.

Swedfund also provided a USD 5 million loan to Apollo Agriculture, an agri-fintech company. Apollo Agriculture supplies fertilizers, seeds, and digital solutions to smallholder farmers. The loan supports Apollo’s delivery of agricultural inputs, advisory services, insurance, and financing. The financing is co-supported by ImpactConnect under the EU Global Gateway initiative. Apollo Agriculture works with approximately 7,000 sales agents and serves over 350,000 farmers in Kenya.

Through these investments, Swedfund strengthens financial institutions and supports agri-fintech solutions. It also enables access to agricultural inputs and services for farmers. These activities align with Agenda 2030, focusing on sustainable growth, financial inclusion, and capacity development in Kenya’s agricultural sector.