Norfund presented a record high IRR of 9% (in NOK) since inception at the Norfund Finance Seminar today . For 2017 alone, the IRR was 14%. This shows the huge investment potentials that exist in developing countries.
In 2017, Norfund's portefolio was just over 23 billion NOK in value-adjusted capital, and had a record 14 per cent return. The 2017 income statement reports a profit of almost 1,9 Billion NOK. These record high results are mainly due to realization of values in our hydropower investments, and to good performance and increased value of our financial institutions.
Over the last 20 years, NOrfund has grown and become a significant investor in many poor countries. From being an "exotic" actor that hardly anyone knew - and that was perceived as one of several instruments in the Norwegian development aid policy - Norfund is today a recognized actor in the international investor environment.
Working in some of the most challenging markets, I am proud to present an annualised return (IRR) since inception of 6% measured in invested currency and 9% in NOK.
Kjell Roland, CEO
For Norfund, profitability is a precondition for development, not the end in itself. We invest in viable businesses in poor countries to create employment and thereby contribute to reduced poverty. At the end of 2017, more than 292.000 people (of which 39 per cent are women) work in companies in our portfolio.