- Active: Active
- Region: Africa
- Country: Regional
- Sector: Banking
- Year: 2016
- Domicile: Netherlands
- Instrument: Equity
- Commitment (MNOK) as of 31.12.2018: 2 379.6
- Original Commitment (MNOK): 2 588.8
The partners agreed to pool together the stakes they held at that time in several financial service providers (FSPs) in Sub-Saharan Africa. Arise was operational from 1 January 2017. It started up with a presence in over 20 countries, a USD 660 million in assets and with an aim to grow to USD 1 billion.
Arise’s dedicated focus on banks/financial institutions strengthens Norfund’s ability to invest capital in a meaningful way in financial institutions in Sub-Saharan Africa. Arise is building up its own bank development team and helps the investee companies improve and update their operational capabilities in an environment characterized by rapid technological change.
The establishment of Arise was a continuation of the Norfund strategy which seeks to further its development mandate through the platform strategy, and thus provide stronger vehicles for the provision of capital and expertise to the growing financial sector in Sub-Saharan Africa.
Below you can see CNBC's interviews about Arise with CEO Deepak Malik:
The full prerecorded interview (30 minutes)