Norfund is an economic development agency based in Oslo, Norway, established in 1997. As an active and strategic minority investor, it provides equity, risk capital, and loans to support the growth of businesses in countries with limited access to capital, primarily focusing on Sub-Saharan Africa, as well as select regions in Southeast Asia and Central America. Norfund aims to foster sustainable business development in areas where the private sector is underdeveloped, by investing in small and medium-sized enterprises and other targeted sectors. The agency's approach is designed to create significant economic impact and promote long-term growth in these developing markets.
Executive Vice President, Green Infrastructure and Scalable Enterprises
Kjell Roland
Managing Director and CEO
Lisa Thomsen
Senior Investment Manager, Clean Energy
Tellef Thorleifsson
CEO
Kristoffer Valvik
Investment Manager
Donald Kariuki
Investment Manager
Past deals in COMESA
Bayport Financial Services Zambia
Debt Financing in 2024
Bayport Financial Services Zambia is a micro-finance institution in Zambia.
Wave Mobile Money
Debt Financing in 2022
Wave Mobile Money provides an app-based financial solution to save, transfer, and borrow money. Wave Mobile Money is on a mission to make Africa the first cashless continent. On a continent where less than 10% of the population has a bank account, Wave is building the first modern financial network — no account fees, instantly available, and accepted everywhere! It is building life-changing financial infrastructure. When mobile money succeeded in Kenya, it lifted about a million people out of poverty. And yet, over 10 years later, most Africans still lack access to affordable ways to save, transfer or borrow the money they need to build businesses or provide for their families. Wave is solving this problem by using technology to build a radically inclusive and extremely affordable financial network.
Brighter Life Kenya 1
Debt Financing in 2021
Brighter Life Kenya 1 Limited (BLK1), an indirect subsidiary of AFC incorporated in Jersey, was incorporated to acquire pay-as-you-go solar home system accounts receivables from d.light Limited (d.light Kenya), providing d.light Kenya with flexible working capital to finance its continued growth.
Verde Beef Processing
Private Equity Round in 2017
The project was founded by the Ethiopian venture firm, Verdant Frontiers, whose founders have established and sold numerous successful companies both in the US and Ethiopia. Verde Beef is led by two proven agribusiness managers residing in Ethiopia, Mr. Bruce Hamilton and Mr. Arnold Krul, who have both managed successful Ethiopian agribusiness ventures over the past five years. Verde Beef Processing PLC is an Ethiopian agribusiness company with an established feedlot in Adami Tulu, Oromia, Ethiopia on a 1,300 hectare farm.
Vertical Agro
Venture Round in 2015
Vertical Agro(EPZ)Limited is a vertically integrated independent grower, processor, exporter and marketer of fresh and frozen vegetables and fruits. Vertical Agro has built a state of the art processing facility in Naivasha , Kenya and it's currently the leading grower, processor and exporter of highest quality fresh and frozen vegetables,packed to the highest standards.
DFCU Group
Private Equity Round in 2013
dfcu Limited was established in 1964 as a development finance institution. For many years dfcu has been associated with many success stories in Uganda's economy. dfcu Bank is the banking branch of the group and has been successfully serving the nation especially promoting SMEs and Women In Business
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