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Swedfund is investing an additional $5 million in the TLG Africa Growth Impact Fund II (TLG II).
TLG II, managed by TLG Capital, provides flexible, long-term debt to SMEs, backed by guarantees issued by banks. This allows the fund to offer loans with tenors and interest rates that give viable companies better conditions to strengthen their businesses and grow sustainably.
“Through our continued engagement with TLG II, Swedfund helps address an important financing gap for SMEs in Africa. Flexible and tailored credit solutions can support viable companies with temporary liquidity needs, helping to preserve jobs while enabling businesses to recover, grow and create new decent employment opportunities,” says Jonas Tornblad, investment manager at Swedfund.
The investment is made as part of TLG II’s second close, together with Proparco, Calvert Impact Capital and several existing investors. Swedfund invested $15 million in TLG II in 2025 and is now increasing its allocation by $5 million.
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