Case studies

  • Establishing FIPA - The first Private Equity fund in Angola

    Case study

    In Angola’s post-civil war capital market, risk capital was unavailable to small and medium sized companies. Norfund therefore decided to establish Fundo de Investimento Privado - Angola (FIPA), Angola’s first private equity fund. Since the first closing in 2009, FIPA I and II have invested in six companies, including the integrated fishing operation, African Selection Trust.

  • Nyama World - Sourcing from smallholder livestock farmers

    Front page

    Commercialising smallholder farms, increasing agricultural diversification, and promoting exports are key agricultural priorities for the government of Malawi. One of Norfund’s investee companies, Nyama World, is contributing to the realisation of these ambitions.

  • DFCU Bank - Increasing access to financial services in Uganda

    DFCU case study

    DFCU Bank is a Ugandan bank that offers a variety of products tailored to the needs of SMEs. Norfund's investments, expertise and technical support has supported the bank's growth into a sound and sustainable financial institution. The bank contributes to increasing access to credit and financial services for SMEs in Uganda, to job creation and to increasing government revenues.

  • Bio2watt - Electricity from organic waste


    Energy constraints are impeding South Africa's economic growth. The new Bio2Watt biogas plant produces electricity from organic waste, and is helping to reduce both the nations electricity deficit and the amount of landfill waste. Norfund provided project development financing, a third of the equity capital required and played an instrumental role in structuring the deal.

  • HKL - Increasing access to capital for MSMEs in Cambodia


    Limited access to capital is one of the key obstacles to growth in Cambodia. Norfund has supported the expansion of the microfinance institution Hattha Kaksekar Limited, thereby contributing to increased access to finance, financial literacy and job creation. In 2016 the institution was ready for investment from an experienced shareholder in the banking sector, and Norfund sold our shares.

  • Haltons Pharmacy - Funding accessible pharmacy care

    Haltons Pharmacy

    The Fanisi Venture Capital Fund invests private equity and venture capital in businesses that have substantial growth potential. Norfund was instrumental in establishing Fanisi, investing both in the management company and the fund. Haltons Pharmacy is a Fanisi investee company and provides quality medicines and medical advice in Kenya through a national network of outlets.

  • Agrivision - A staple food producer in Zambia


    The government of Zambia has identified agriculture as a priority sector for achieving economic development and reducing poverty. Agrivision is a vertically integrated agribusiness company operating in Zambia. Norfund's investment has supported the company's expansion, thereby contributing to increased food production, job creation and increased market access for smallholders.

Norfund - The Norwegian Investment Fund for Developing Countries

Fridtjof Nansens Plass 4
N-0160 Oslo

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