{"id":5944,"date":"2022-05-31T14:17:41","date_gmt":"2022-05-31T12:17:41","guid":{"rendered":"https:\/\/norfund.wpenginepowered.com\/annualreport-2021\/?page_id=5944"},"modified":"2022-06-02T09:17:14","modified_gmt":"2022-06-02T07:17:14","slug":"25-years","status":"publish","type":"page","link":"https:\/\/reports.norfund.no\/annualreport-2021\/year-2021\/key-events\/25-years\/","title":{"rendered":"History"},"content":{"rendered":"\n
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1997<\/h2>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t
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\n\t\t\t\t\t\t\t\t\t\t\"Arve\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t
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Norfund is established<\/h3>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t
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Chairman: <\/span>Arve<\/span> Johnsen, Managing director: Per Emil <\/span>Lind\u00f8e<\/span>.<\/span><\/span>\u00a0<\/span><\/p>\n

(Photo: Norsk olje og gass, via Wikimedia Commons)<\/p>\n\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t

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1999<\/h2>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t
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\n\t\t\t\t\t\t\t\t\t\t\"\"\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t
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Norfund enters into co-operations with the World Bank\u2019s International Finance Corporation (IFC) and the Association of European Development Finance Institutions (EDFI)<\/h3>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t
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2000<\/h2>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t
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A grant facility for Norfund is established by the Norwegian Ministry of Foreign Affairs<\/h3>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t
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2001<\/h2>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t
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<\/span><\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t
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\n\t\t\t\t\t\t\t\t\t\t\"\"\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t
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A regional office for Latin America is opened in San Jose<\/h3>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t
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Aureos Capital Limited (ACL) was established<\/h3>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t
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It was established as a joint venture between CDC and Norfund in 2001<\/span><\/span>,<\/span><\/span><\/span> and became a leading fund manager for SME investments in emerging markets.<\/span><\/span><\/p>\n\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t

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2002<\/h2>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t
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Norfund\u2019s investments are untied from Norwegian industry<\/h3>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t
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\n\t\t\t\t\t\t\t\t\t\t\"\"\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t
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SN Power was established<\/h3>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t
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SN Power Invest was established \u2013 a joint venture between Norfund and Statkraft. The company grew to be a leading commercial investor and hydropower project developer in emerging markets. In 2020 Scatec acquired SN Power (see highlight).<\/p>\n\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t

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2003<\/h2>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t
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<\/span><\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t
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\n\t\t\t\t\t\t\t\t\t\t\"\"\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t
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A regional office for Southern Africa is opened in Johannesburg<\/h3>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t
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2004<\/h2>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t
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A system for measuring development effects is introduced<\/h3>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t
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<\/span><\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t
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\n\t\t\t\t\t\t\t\t\t\t\"\"\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t
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Agribusiness Development Corporation (LAAD)<\/h3>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t
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Norfund invests in Latin American Agribusiness Development Corporation (LAAD), a specialized lender that finances small and medium-sized agribusiness companies in Latin America. In 2017, Norfund supported LAAD further by providing an\u00a0 additional loan.<\/p>\n\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t

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2006<\/h2>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t
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<\/span><\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t
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\n\t\t\t\t\t\t\t\t\t\t\"\"\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t
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Kjell Roland was appointed as Managing Director for Norfund<\/h3>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t
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<\/span><\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t
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European Financing Partners (EFP)<\/h3>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t
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Norfund invested in EFP, a private limited liability company owned by 12 European Development Finance Institutions (DFIs) and the European Investment Bank.<\/p>\n\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t

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2007<\/h2>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t
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<\/span><\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t
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\n\t\t\t\t\t\t\t\t\t\t\"Kristin\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t
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Kristin Clemet is appointed chair of the board of Norfund, and a new focused strategy is adopted<\/h3>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t
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A regional office for East Africa is opened in Nairobi<\/h3>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t
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<\/span><\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t
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\n\t\t\t\t\t\t\t\t\t\t\"\"\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t
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Hattha Kaksekar (HKL)<\/h3>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t
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Norfund\u2019s equity investments, loans and active shareholding in HKL contributed to its extensive development, from a small NGO to one of Cambodia\u2019s leading mid-size microfinance institutions. In 2016 the institution was ready for investment from an experienced shareholder in the banking sector, and Norfund sold our shares.<\/p>\n\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t

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2008<\/h2>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t
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<\/span><\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t
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\n\t\t\t\t\t\t\t\t\t\t\"\"\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t
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The Norwegian Microfinance Initiative (NMI) is established<\/h3>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t
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NMI gives poor people in developing countries access to financial services by uniting private and public capital. Established in 2008 by Norfund and a group of Norwegian private investors, the Initiative aims to be the leading Nordic microfinance platform. In 2016 the Danish Investment Fund for Developing Countries (IFU) joined, and the name was changed to Nordic Microfinance Initiative.<\/p>\n\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t

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2009<\/h2>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t
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\n\t\t\t\t\t\t\t\t\t\t\"\"\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t
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Africado<\/h3>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t
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Africado \u2013 an agricultural investment that has succeeded in commercialising a traditionally low-value crop. New techniques and agricultural training are creating jobs and new sources of revenue for small-scale avocado farmers in Tanzania. This also enabled them to expand production and reach export markets.<\/p>\n\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t

\n\t\t\t\t\t\t\t
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<\/span><\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t
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\n\t\t\t\t\t\t\t\t\t\t\"Bugoye\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t
\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t

Bugoye Hydropower Plant<\/h3>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t
\n\t\t\t\t\t\t\t\t\t\t\t

The 13 MW plant in Uganda was a joint development project between Tr\u00f8nder Energi and Norfund.<\/p>\n\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t

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2010<\/h2>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t
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<\/span><\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t
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\n\t\t\t\t\t\t\t\t\t\t\"\"\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t
\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t

Agri-Vie Fund<\/h3>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t
\n\t\t\t\t\t\t\t\t\t\t\t

Agri-Vie Fund I, a fund focused on the food and agribusiness sector in Sub-Saharan Africa. In 2017 Norfund worked closely with the management to also establish Agri-Vie II.<\/p>\n\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t

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2011<\/h2>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t
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<\/span><\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t
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\n\t\t\t\t\t\t\t\t\t\t\"\"\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t
\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t

A regional office for Asia is opened in Bangkok<\/h3>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t
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2012<\/h2>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t
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<\/span><\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t
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A regional office is opened in Maputo, Mozambique<\/h3>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t
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<\/span><\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t
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\n\t\t\t\t\t\t\t\t\t\t\"\"\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t
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Scatec Solar Kalkbult<\/h3>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t
\n\t\t\t\t\t\t\t\t\t\t\t

The Kalkbult plant in South Africa\u2019s Northern Cape region is one of Africa\u2019s largest solar plants. The 75MWp plant, developed by Scatec Solar, became operational in late 2013.<\/p>\n\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t

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<\/span><\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t
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Kinyeti Venture Capital<\/h3>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t
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\u2013 a pioneering investment company in the recently independent Republic of South Sudan, investing in SMEs, was established as a joint venture between Norfund and Swedfund.<\/p>\n\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t

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2013<\/h2>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t
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<\/span><\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t
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KLP Norfund Investment AS (KNI) is established<\/h3>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t
\n\t\t\t\t\t\t\t\t\t\t\t

KNI is a co-investment vehicle financed jointly by KLP and Norfund. KNI invests equity in selected finance and renewable energy projects within Norfund\u2019s investment strategy.<\/p>\n\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t

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<\/span><\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t
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\n\t\t\t\t\t\t\t\t\t\t\"\"\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t
\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t

Lake Turkana Wind Power Project (LTWP)<\/h3>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t
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LTWP\u00a0is the largest wind power plant of its kind on the African continent, providing almost 17% of Kenya\u2019s installed capacity with 365 wind turbines installed in a dry and arid area in Northern Kenya. The LTWP is the largest single private investment in Kenya\u2019s history. The windfarm was connected to the national grid in 2018. In July 2021, Norfund sold all its shares to the Anergi Group.<\/p>\n\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t

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2014<\/h2>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t
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<\/span><\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t
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\n\t\t\t\t\t\t\t\t\t\t\"\"\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t
\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t

Globeleq<\/h3>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t
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In 2014, Norfund and CDC took full ownership of Globeleq, one of Africa\u2019s leading electricity generation developers and operators. With 13 power plants total Globeleq currently generates more than 1,400 MW and has another 2,000 MW in development.<\/p>\n\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t

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2015<\/h2>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t
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<\/span><\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t
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\n\t\t\t\t\t\t\t\t\t\t\"\"\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t
\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t

Equity Bank<\/h3>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t
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One of East Africa\u2019s leading banking groups, Equity Bank has over 9 million customer accounts in Kenya, South Sudan, Uganda, and Rwanda. Few banks have succeeded as well as Equity Bank in developing efficient services for mass markets in developing countries. Its services include insurance agency, investment banking, securities brokerage and information and telecommunications technology outsourcing services.<\/p>\n\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t

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2016<\/h2>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t
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<\/span><\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t
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Arise<\/h3>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t
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Norfund, FMO, NorFinance, and Rabobank joined forces in establishing Arise. The aim is to strengthen the financial sector in Sub-Saharan Africa and increase SMEs\u2019 and poor unbanked peoples\u2019 access to capital. Arise partners with sustainable, locally-owned Financial Services Providers and has become a leading African investment company.<\/p>\n\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t

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<\/span><\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t
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The Johannesburg office is closed, and staff are transferred to Arise<\/h3>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t
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<\/span><\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t
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\n\t\t\t\t\t\t\t\t\t\t\"\"\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t
\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t

A regional office for West Africa is decided to be opened in Accra, Ghana<\/h3>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t
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2017<\/h2>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t
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<\/span><\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t
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\n\t\t\t\t\t\t\t\t\t\t\"\"\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t
\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t

M-KOPA<\/h3>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t
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Norfund was part of a lender consortium that provided M-Kopa with USD 80 million in local currency debt to expand its business of supplying pay-go solar home systems in Kenya and Uganda. This was the largest single financing to date in the off-grid segment.<\/p>\n\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t

\n\t\t\t\t\t\t\t
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<\/span><\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t
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\n\t\t\t\t\t\t\t\t\t\t\"\"\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t
\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t

Neofresh<\/h3>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t
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\u2013 a South African company that specializes in the production, packing and marketing of papaya and other sub-tropical fruits. Norfund\u2019s investment contributes to skills development and a more efficient production line and value chain with higher yields.<\/p>\n\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t

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2018<\/h2>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t
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<\/span><\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t
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\n\t\t\t\t\t\t\t\t\t\t\"\"\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t
\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t

The Nordic Horn of Africa Opportunities Fund<\/h3>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t
\n\t\t\t\t\t\t\t\t\t\t\t

Norfund, together with Shuraako and the Danish development finance institution, IFU, established a USD 10 million fund to support small and medium sized companies in Somalia. The Fund is among the first commercial investment funds in Somalia and the business environment in Somalia is extremely challenging.<\/p>\n\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t

\n\t\t\t\t\t\t\t
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<\/span><\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t
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\n\t\t\t\t\t\t\t\t\t\t\"\"\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t
\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t

Marginpar<\/h3>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t
\n\t\t\t\t\t\t\t\t\t\t\t

An integrated group of flower producers in Kenya and Ethiopia. Norfund\u2019s investment in Marginpar enabled the acquisition and development of several underperforming farms which have secured decent jobs. Additionally, during the COVID-19 pandemic in 2020 Norfund stepped in with an emergency loan to keep people employed and the company going.<\/p>\n\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t

\n\t\t\t\t\t\t\t
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<\/span><\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t
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\n\t\t\t\t\t\t\t\t\t\t\"Tellef\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t
\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t

Tellef Thorleifsson becomes new CEO of Norfund<\/h3>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t
\n\t\t\t\t\t\t\t
\n\t\t\t\t\t

2019<\/h2>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t
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<\/span><\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t
\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t

Arise makes a direct equity investment in Ecobank<\/h3>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t
\n\t\t\t\t\t\t\t\t\t\t\t

A pan-African bank operating in 33 countries, including in the Sahel region where very few other financial institutions are present. Ecobank has a strong brand recognition through a substantial network of over 24 million customers served by some 14,000 employees and 690 branches across the continent.<\/p>\n\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t

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<\/span><\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t
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\n\t\t\t\t\t\t\t\t\t\t\"\"\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t
\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t

First Fintech investment<\/h3>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t
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Norfund invested in Quona Capital, a venture firm and an experienced investor in the Fintech sector focusing on financial inclusion in emerging markets.<\/p>\n\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t

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2020<\/h2>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t
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<\/span><\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t
\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t

SN Power sold to Scatec<\/h3>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t
\n\t\t\t\t\t\t\t\t\t\t\t

After building SN Power into a leading hydropower company in developing countries, Norfund sells all the shares to Norwegian energy developer Scatec for 1,17 billion dollars.<\/p>\n\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t

\n\t\t\t\t\t\t\t
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<\/span><\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t
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\n\t\t\t\t\t\t\t\t\t\t\"Lilongwe\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t
\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t

Lilongwe Dairy<\/h3>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t
\n\t\t\t\t\t\t\t\t\t\t\t

Norfund invests in a company that has grown to be Malawi\u2019s leading dairy producer. A year after the investment, the number of smallholder farmers delivering milk to the dairy has increased by from 8000 to 9000.<\/p>\n\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t

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\n\t\t\t\t\t\t\t\t
<\/span><\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t
\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t

Joint Impact Model (JIM)<\/h3>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t
\n\t\t\t\t\t\t\t\t\t\t\t

Norfund applies a new model to estimate the number of jobs our investments support indirectly. The results are calculated using economic modelling and do not represent actual figures, but still give a new insight into the overall impact of our investments.<\/p>\n\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t

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2021<\/h2>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t
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<\/span><\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t
\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t

Norfund asked to manage new climate investment fund<\/h3>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t
\n\t\t\t\t\t\t\t\t\t\t\t

The Norwegian government plans to allocate NOK 10 billion over five years to a new fund that will invest in renewable energy in developing countries with the aim of contributing to reduced greenhouse gas emissions. One billion NOK from Norfund\u2019s capital and one billion NOK from the state budget will be set aside annually for the fund. Read more here.<\/p>\n\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t

\n\t\t\t\t\t\t\t
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<\/span><\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t
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\n\t\t\t\t\t\t\t\t\t\t\"\"\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t
\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t

Phatisa Food Fund 2<\/h3>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t
\n\t\t\t\t\t\t\t\t\t\t\t

Together with BII, Finnfund, FinDev Canada, and BIO, Norfund jointly committed 83 million USD to the fund which will invest across the African food value chain, considering investments in mechanisation, inputs, poultry and meat production, food processing and manufacturing, logistics, aggregation and distribution across Sub-Saharan Africa. Norfund\u2019s commitment totalled 20 million USD.<\/p>\n\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t<\/div>\n\n\n\n

<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"","protected":false},"author":11,"featured_media":5980,"parent":180,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"norfund_header_layout":"","norfund_header_layout_image_id":0,"norfund_header_layout_image_focal_point_x":0,"norfund_header_layout_image_focal_point_y":0,"norfund_header_layout_suptitle":"","norfund_header_layout_subtitle":"","norfund_header_layout_title":"","teft_cards_image_id":5984,"teft_cards_image_focal_point_x":0.5,"teft_cards_image_focal_point_y":0.5,"teft_cards_title":"Norfund celebrates 25 years - our history","teft_cards_excerpt":"View a timeline of important events from our quarter century of work!"},"acf":[],"yoast_head":"\nHistory | Report on Operations 2021<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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