Jacqueline Novogratz And Acumen Raise $300 Million For Off-Grid Solar In Africa [Forbes]
Shinhan Financial Group Co Ltd American Depositary Shares (SHG)
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Source: Forbes
And yet around the world half a billion people still live without electricity. The deprivation is most acute in sub-Saharan Africa; where according to the World Bank only 16% of people in Malawi, 22% in Burkina Faso and 36% in Sierra Leone can turn the lights on. Two years ago Jacqueline Novogratz and her venture capital firm Acumen set out to change that, launching the Hardest-to-Reach Initiative — a plan to electrify 70 million people in sub-Saharan Africa, mostly via off-grid solar power. Today Acumen announced that it has raised $300 million for this effort from a varied consortium of international investors. Backers include Green Climate Fund, IFC, Shinhan Bank, Nordic Development Fund and Soros Economic Development Fund. “To catalyze new markets that don't exist, like in Malawi, where no investors are going in — this requires philanthropically backed capital,” says Novogratz, 64, who has directed Acumen in deploying some $500 million over 24 years. Indeed, this is risky
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News
- Shinhan Financial Group (NYSE:SHG) was downgraded by analysts at Zacks Research from a "hold" rating to a "strong sell" rating.MarketBeat
- Surprise: Cleantech Spending May Hit Record Despite Trump's Carbon Push [Forbes]Forbes
- As U.S. women leave the workforce in droves, South Korean banks offer baby bonuses, flexible schedules, and child-raising sabbaticals [Fortune]Fortune
- EQT to invest USD 930 million in Douzone Bizon, a leading provider of ERP and software solutions in South Korea [Yahoo! Finance]Yahoo! Finance
- Shinhan Financial Group (NYSE:SHG) had its "buy (b)" rating reaffirmed by analysts at <a style="font-weight:bold" href="https://weissratings.com/">Weiss Ratings</a>.MarketBeat
SHG
Sec Filings
- 12/5/25 - Form 6-K
- 12/4/25 - Form 6-K
- 11/14/25 - Form 6-K
- SHG's page on the SEC website