Investments in Ghana

Direct investment

Total commitment (MNOK): 451.1 MNOK

Investment Sector Year Instrument Commitment
Arise B.V. Banking 2016 Equity 8% 191.3
AfricInvest Financial Inclusion Vehicle LLC Banking 2018 Equity 10% 18.0
CAL Bank Limited Banking 2018 Loan 100% 68.1
Interact Climate Change Facility Energy 2010 Loan 8% 20.4
E&Co (Persistent Energy) Energy 2009 Loan 10.17% 0.9
Agri-Vie II Food and agribusiness 2017 Fund 10% 12.1
Oasis Africa Fund Investment funds 2017 Fund 60% 25.3
Africa Health Fund (Aureos) Investment funds 2011 Fund 28% 13.5
GroFin Africa Fund Investment funds 2008 Fund 24% 14.0
Aureos Africa Fund Investment funds 2008 Fund 22% 26.9
Vantage Mezzanine Fund II Investment funds 2011 Fund 37% 19.0
GroFin SGB Fund Limited Partnership Investment funds 2015 Fund 16% 20.1
Aureos West Africa Fund Investment funds 2003 Fund 31% 3.8
European Financing Partners SA Investment funds 2006 Equity and loan 6% 16.6
NMI GP IV AS Microfinance 2018 Equity 5% 1.2

Indirect investment

Investment Sector Year Investor
CAL Bank Limited Banking Arise B.V.
Fidelity Bank (92-GH-DEG-0114) Banking European Financing Partners SA
Jobost Enterprise Communication GroFin Africa Fund
Angel Specialist International School Ltd. Education GroFin Africa Fund
Devine Creche & Preparatory School Education GroFin Africa Fund
Legacy Girls School Education Oasis Africa Fund
Firm Foundation Montessori Academy (FFMA) Education GroFin Africa Fund
Genser Energy Ghana Limited Energy Vantage Mezzanine Fund II
01-GH-FMO-0511-TICO Energy - natural gas Interact Climate Change Facility
Chafal Company Ltd Financial services GroFin SGB Fund Limited Partnership
Rose Joy Company Ltd Financial services GroFin SGB Fund Limited Partnership
SAS DENTAL CLINIC Financial services GroFin SGB Fund Limited Partnership
Ogudu Automotives Limited Financial services GroFin Africa Fund
SAS DENTAL CLINIC Financial services GroFin Africa Fund
Everpure Holdings Limited Food and agribusiness Oasis Africa Fund
Abec Sanitas Inc (C&J) Health Africa Health Fund (Aureos)
Aninwah Medical Centre Health Africa Health Fund (Aureos)
Banner Medical Centre Health GroFin Africa Fund
Royal Systems and Services Ltd Manufacturing GroFin SGB Fund Limited Partnership
Janak Industries Limited Manufacturing GroFin Africa Fund
Johnbeng Company Ltd Manufacturing GroFin Africa Fund
Emigoh Ghana Ltd Manufacturing GroFin Africa Fund
Strategic Global Aliance Manufacturing Aureos Africa Fund
Cob A Industries Ltd Manufacturing GroFin Africa Fund
Glade Digital Limited Manufacturing GroFin Africa Fund
Fan Milk International A/S Manufacturing Aureos Africa Fund
Regimanuel Gray Other industrial partnerships Aureos Africa Fund
JOISSAM GHANA LIMITED Other services GroFin SGB Fund Limited Partnership
Dass Security Limited Other services GroFin Africa Fund
Magna International Transport Company Ltd Other services GroFin Africa Fund
White Dove Hotel Limited Tourism GroFin Africa Fund
Hillcrest Hotel Ltd. Tourism GroFin Africa Fund
Tyco City Investments Ltd Tourism GroFin Africa Fund
I.K Ninson Ent. Ltd Wholesale and retail GroFin SGB Fund Limited Partnership
Cash Oil Company Ltd Wholesale and retail GroFin SGB Fund Limited Partnership
Elkhart Enterprise Wholesale and retail GroFin SGB Fund Limited Partnership
ST. KEM COMPANY LIMITED Wholesale and retail GroFin SGB Fund Limited Partnership
BAMYAP ENTERPRISE LIMITED Wholesale and retail GroFin SGB Fund Limited Partnership
DADDY ASH LIMITED Wholesale and retail GroFin SGB Fund Limited Partnership
TRADENET INVESTMENT LIMITED Wholesale and retail GroFin SGB Fund Limited Partnership
Yaw Boat Enterprise 2 Wholesale and retail GroFin SGB Fund Limited Partnership
Y & K Investments Ltd Wholesale and retail GroFin SGB Fund Limited Partnership
APM Limited Wholesale and retail GroFin SGB Fund Limited Partnership
Bop Investments Limited Wholesale and retail GroFin SGB Fund Limited Partnership
Zuks Multimart Wholesale and retail GroFin SGB Fund Limited Partnership
Robtina Enterprise Wholesale and retail GroFin Africa Fund
El Paraiso Holiday Resort Wholesale and retail GroFin Africa Fund
EUROPE Autoland Ltd Wholesale and retail GroFin Africa Fund
Fikos Ventures Wholesale and retail GroFin Africa Fund
Ecovans Limited Wholesale and retail GroFin Africa Fund
Collboy Wholesale and retail GroFin Africa Fund
ADB Scientific Products Ltd Wholesale and retail GroFin Africa Fund
Agya Owusu Company Limited Wholesale and retail GroFin Africa Fund
Besandy & James Company Limited Wholesale and retail GroFin Africa Fund
Great Provider Trading & Company Limited(GPTC) Wholesale and retail GroFin Africa Fund
Masachar Company Limited Wholesale and retail GroFin Africa Fund
Vida Antwi Company Wholesale and retail GroFin Africa Fund
Y & K Investments Limited Wholesale and retail GroFin Africa Fund
Yaayeb Company Limited Wholesale and retail GroFin Africa Fund
Soti-Ci Company Ltd Wholesale and retail GroFin Africa Fund
Santa Flora Enterprise Wholesale and retail GroFin Africa Fund
Mobile Zone Wholesale and retail GroFin Africa Fund
Red Fins Ltd Wholesale and retail GroFin Africa Fund
Sabadan Comp Ltd Wholesale and retail GroFin Africa Fund
BB Manufacturing Ltd Wholesale and retail GroFin SGB Fund Limited Partnership

Norfund - The Norwegian Investment Fund for Developing Countries

Fridtjof Nansens Plass 4
N-0160 Oslo

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