Finnfund’s EUR 10 million loan to Bisedge supported by EDFI Renewable Energy Transition guarantee

EU-backed risk-sharing helps Bisedge expand its fleet of electric forklifts in Nigeria and other African markets.

Brussels, Belgium – 28 October 2026 – EDFI Management Company (EDFI MC) announces its support, through the EDFI Renewable Energy Transition (RET) Programme under the European Fund for Sustainable Development Plus (EFSD+), for Finnfund’s EUR 10 million senior loan to Bisedge Holdings. The guarantee covers 70% of the loan, providing EUR 7 million in cover backed by the European Union as part of the Global Gateway strategy.

Founded in 2020, Bisedge supplies electric forklifts and warehouse logistics services to large companies in Africa under long-term service agreements that bundle the equipment, maintenance and trained operators. Around 95% of its fleet is electric, and the company employs around 1,000 people.

The loan will allow Bisedge to expand its electric fleet in Nigeria, Tanzania, Kenya, South Africa and Mauritius, where most of the funds will be used. It is Finnfund’s first electric vehicle investment in Africa. Businesses on the continent still have few practical alternatives to diesel forklifts, and companies like Bisedge need long-term debt to buy equipment that pays back over many years of service. By covering most of the credit risk on the loan, the guarantee allows Finnfund to provide that finance at this scale.

Independent verification estimates that replacing one diesel forklift with an electric one in Nigeria avoids about 37 tonnes of CO₂ a year. Bisedge is also the first company in Nigeria to offer dedicated training and employment for women forklift operators, and aims for women to make up at least 20% of its workforce.

The investment is expected to contribute to several Sustainable Development Goals:

• Affordable and clean energy (SDG 7): replacing diesel-powered equipment with electric alternatives in industry and logistics.
• Decent work and economic growth (SDG 8): creating skilled jobs, including for women in a traditionally male occupation.
• Climate action (SDG 13): cutting greenhouse gas emissions from logistics operations.

The operation supports the EU’s Global Gateway priorities on clean energy and sustainable transport in Africa, and contributes to the Team Europe Initiative on Green Economy.

About EDFI Management Company

EDFI Management Company (EDFI MC) is an impact-driven financial service provider created by the EDFIs and supported by the European Union. EDFI MC manages EU-funded investment facilities and EU guarantee programmes, including guarantees backed by the European Fund for Sustainable Development Plus (EFSD+), which is the EU’s main financing arm under the Global Gateway strategy for mobilising private capital in developing and emerging markets.

The EDFI Renewable Energy Transition (RET) Programme is a joint EFSD+ guarantee programme developed by European Development Finance Institutions and EDFI Management Company under the EU’s Global Gateway. With a guarantee envelope of up to €332 million, the Programme supports debt and equity investments in renewable energy projects—including wind, solar, hydro, biomass, geothermal, and green hydrogen—across Sub-Saharan Africa, Latin America and the Caribbean, and Asia and Pacific. RET aims to increase access to clean energy, advance the Paris Climate Agreement and Sustainable Development Goals, and accelerate the energy transition in high-impact markets. For more information see https://edfimc.eu/what-we-do/renewable-energy-transition-ret/

Enquiries: RET.Guarantee@edfimc.eu

About EFSD+

The European Fund for Sustainable Development Plus (EFSD+) is the financing arm of the EU’s Global Gateway strategy. It provides guarantees and blended finance instruments to support investments that contribute to sustainable development, particularly in fragile and emerging markets.

About Global Gateway

Global Gateway is the European Union’s strategy to boost smart, clean, and secure connections in digital, energy, and transport sectors, and to strengthen health, education, and research systems across the world. It aims to mobilise up to €300 billion in investments between 2021 and 2027 to support sustainable and trusted partnerships globally.