Transcription of Lori Kerr's speech as part of a presentation at the House of Commons Standing Committee on Foreign Affairs and International Development.
Date: January 27, 2026
Location: House of Commons
Speaker: Lori Kerr, CEO, FinDev Canada
[Check Against Delivery]
Thank you, Mr. Chair, and Members of the Committee, for the invitation to appear today. Good afternoon.
On behalf of FinDev Canada, it is a privilege to share with you more about FinDev Canada and what we are accomplishing in Africa in alignment with Canada’s Africa Strategy.
FinDev Canada is Canada’s bilateral Development Finance Institution established in 2018 as a wholly owned subsidiary of Export Development Canada.
We support development through the private sector by providing financing, investment, and blended finance solutions, as well as technical assistance, to support sustainable and inclusive growth in emerging and developing markets.
We were established to complement the range of tools that Canada has in place to address the significant development challenges that these markets face, with a focus on supporting growth and prosperity through private investments.
Depuis notre création, FinDev Canada a conclu plus de deux virgule neuf milliard de dollars (CAD 2.9B) d’investissements auprès de plus de cinquante-neuf clients.
Operating in Latin America and the Caribbean, Sub-Saharan Africa, and more recently, the Indo-Pacific region, we have a dual mandate to achieve both development impact and financial sustainability.
We are guided by three development impact goals: climate and nature action, gender equality, and market development - which means we assess each transaction for their current and potential impact on these goals.
Financial sustainability means generating sufficient returns to cover our costs.
This approach makes FinDev Canada an effective public policy tool for Canada’s development, economic and foreign policy priorities: we leverage private sector solutions to achieve development impact at scale; we support development and strengthening of key global relationships; and we do so as a responsible, financial steward growing the government’s capital.
We focus on three sectors: the finance industry; agribusiness, forestry, and their value chains, and sustainable infrastructure, which I will explain through examples in our portfolio.
First, the financial industry. We support banks, financial cooperatives, investment funds, and other financial intermediaries. The financial industry allows us to reach end-users that we would not have the capacity to reach directly, for example, micro, small, and medium enterprises. One example is CRDB Bank in Tanzania, where we provided a loan to support on-lending to climate-smart companies, SMEs, and women-led businesses. A strong, deep, and resilient financial system is a bedrock of development, and supporting these organizations also helps us as Canada contribute to broader capital market development as a result.
Second, agribusiness and forestry, and their value chains. This means we support private sector opportunities from production to distribution. In South Africa, for example, we invested in Phatisa Food Fund 2, a pan-African private equity fund investing in companies across the food value chain. FinDev Canada provided Phatisa with an equity investment which has helped create 3,800 jobs and support over 15,000 smallholder farmers – 50% of which are women. This develops food production, distribution, and markets for Africans and the broader global economy.
And finally, sustainable infrastructure. This means building inclusive, low-carbon, and climate resilient economies through renewable energy, transport, water, and technology.
One demonstration of our commitment to sustainable infrastructure in the region was through our equity investment in the Energy Entrepreneurs Growth Fund, alongside the 2X Canada blended finance facility, funded by Global Affairs Canada and implemented by us to promote gender equality. The fund is seeking to close the energy gap, expanding access to clean, affordable energy for off-grid households and businesses. Thus far, this investment has avoided 506,000 tons of CO₂ emissions and delivered solar energy solutions to 1.37 million people, many in rural and low-income communities. This model is increasing inclusivity for African women, and productivity and competitiveness for African people and small businesses.
L’Afrique sub-Saharienne a toujours été une de nos régions prioritaires, représentant actuellement près de trente-sept pourcent de notre portefeuille, ce qui se traduit par plus d’un milliard de dollars (CAD 1,027 M) de financement et d'investissement auprès de vingt clients.
As you can see, our approach in Africa is anchored in partnership—working closely with Global Affairs Canada, multilateral development banks, peer DFIs, and private investors to deliver results.
At FinDev Canada, we say our business moves at the speed of trust. To continue to earn that trust, we are expanding our physical presence. In Spring 2026, we will open a regional office in Cape Town —deepening our engagement and partnerships in South Africa and across the region and demonstrating that Canada is having an important impact in the region.
But beyond this, investment in private sector-led growth in emerging markets is critical to Canada’s priorities on shared economic prosperity, climate and supply chain resilience, global stability, and deepening relationships in high-growth markets - FinDev Canada is an effective public policy instrument that is contributing to these goals.
Thank you, Mr. Chair and Members of the Committee. I look forward to your questions.