Finnfund, the Finnish development financier and impact investor, makes a follow-on investment in Communication & Renewable Energy Infrastructure (CREI) to scale up sustainable telecom energy infrastructure in South Sudan. The 5 million US dollar investment is backed by the European Fund for Sustainable Development Plus (EFSD+) under the Africa Connected programme, which aims to accelerate digital inclusion and climate resilience. In total, Finnfund has now invested in 10 million US dollars in CREI.
CREI specialises in deploying hybrid energy solutions for mobile network operators (MNOs). Finnfund’s financing supports the modernisation and expansion of solar-hybrid energy systems for MTN South Sudan’s 499 telecom sites under a 10-year Energy as a Service (ESCO) contract. The project has already modernised 490 sites and reaches over 4 million customers, exceeding initial targets. The telecom stations are not only operational but consistently powered, allowing anyone with a mobile device to make a call, browse the internet, or access digital services. The overall network coverage has expanded from 69% to 80% of the population over the past three years, reflecting the broader market effect of CREI’s infrastructure upgrades.
“Reliable energy is the backbone of digital connectivity and economic growth,” said Kelvin Kiiru, Investment Associate at Finnfund. “By supporting CREI, we are enabling cleaner, more efficient power for telecom networks, which means better connectivity, lower emissions, and greater opportunities for communities. At its heart, this investment is about connecting the unconnected and driving sustainable development.”
“We are delighted to expand our partnership and collaboration with Finnfund at our TESCO project in South Sudan. CREI is committed to the Country and sustainable development of its telecommunication sector. The increased number of sites and continuing new investments are clear mark of our efforts. We already record improved connectivity and sustainable use of resources, and we are confident that the positive impact will continue with further improvements” noted Kadri El Hakim, CEO at CREI.
Pelle Enarsson, EU Ambassador to South Sudan said: “This investment shows how the EU’s Global Gateway strategy delivers impact in South Sudan. Through the EFSD+ guarantee, the EU backs private sector investments in more challenging environments. In South Sudan, this support enables renewable energy solutions for digital infrastructure, improving connectivity and driving inclusive growth while building resilient local economies. We are pleased to support this USD 5 million follow-on investment by Finnfund in CREI.”
Finnfund’s investment in CREI delivers impact across multiple dimensions: economic, environmental, and social. In a country where over 80% of the population lives in rural areas and more than 82% face extreme poverty, reliable mobile connectivity is a gateway to opportunity. By modernizing telecom infrastructure with solar-hybrid energy systems, CREI is enabling mobile networks to reach previously underserved communities, improving access to information, education, financial services, and healthcare.
Environmentally, the shift from diesel generators to solar-hybrid systems has led to a 43% reduction in carbon emissions and a significant drop in noise and local air pollution. The renewable energy ratio has risen from 11% to 42%, and with further modernization underway, even greater sustainability gains are expected.
Beyond its core business, CREI actively invests in community development. Through its CSR initiatives, the company has solarized maternity wards that previously operated without reliable access to the electricity, providing clean energy to essential healthcare facilities and enhancing maternal and neonatal health services.
Gender equality remains a key pillar of CREI’s impact strategy. CREI has launched a gender action plan aimed at increasing female representation across technical and engineering roles, enhancing workplace benefits, and ensuring equitable access to training and leadership, and career advancement opportunities. Partnerships with local women-led NGOs are established through a structured framework to co-design CSR initiatives centered on education, health, and economic empowerment, embedding gender-sensitive practices into both operations and community engagement.
More information
Kelvin Kiiru, Investment Associate, Finnfund
kelvin.kiiru@finnfund.fi, tel. +254 704 469 903
Media contact:
Valpuri Mäkinen, Senior Communications and Marketing Manager, Finnfund
valpuri.makinen@finnfund.fi, tel +358 50 384 2105
This investment is made with support from the European Union and the European Fund for Sustainable Development Plus (EFSD+), one of the financing tools of Global Gateway, promoting sustainable investments in the EU’s partner countries. Finnfund has utilised an EFSD+ guarantee under the Africa Connected programme, which supports investments into rural connectivity solutions, access to data, and digital solutions. For more information, please visit the European Commission’s website.
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