Arise is an company established by Norfund, FMO and Rabobank together for supporting growth in Africa through investments in African financial institutions.
Norfund, FMO and Rabobank have entered into a partnership to reaffirm their long-term commitment to Africa’s future development, growth potential and the local financial sector. The partners are committed to strengthen and develop effective, inclusive financial systems in Africa.
The partners have agreed to pool together the stakes they currently hold in several financial service providers (FSPs) in Sub-Saharan Africa. The new company, Arise, will start with a presence in over 20 countries, a USD 660 million in assets and is anticipated to grow to USD 1 billion. Arise will be operational from 1 January 2017 .
The establishment of Arise will contribute to the development of the financial sector in Africa on a scale which is far beyond what Norfund can achieve by itself. (Kjell Roland)
Read full press release here.
This is Arise - see interviews with incoming CEO of Arise, Deepak Malik, at CNBC:
The full prerecorded interview (30 minutes)